This presentation doesn't have any of the answers- just the questions! It was used for the roundtable discussion at the American Agriculture Law Association Annual Meeting. You can view the materials for the presentation at JD Supra at http://www.jdsupra.com/legalnews/getting-paid-billing-and-collection-st-56103/.
How do you adequately and completely qualify a prospect before you are knee deep into the presentation? Ask qualifying questions. This presentations helps you come up with the right questions in order to qualify your prospects and their needs.
How do you adequately and completely qualify a prospect before you are knee deep into the presentation? Ask qualifying questions. This presentations helps you come up with the right questions in order to qualify your prospects and their needs.
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Getting Paid: Billing and Collection Strategies for the Food & Agriculture Lawyer
1. Getting Paid:
Billing and Collection Strategies for the
Food & Agriculture Lawyer
American Agriculture Law Association (AALA) Roundtable Discussion
October 21, 2014
2. Moderator: Cari Rincker, Esq.
Rincker Law, PLLC
535 Fifth Avenue, 4th Floor
New York, NY 10017
(212) 427-2049
cari@rinckerlaw.com
www.rinckerlaw.com
3. Faculty: Robert Moore, Esq.
Wright & Moore
4266 Tuller Road
Dublin, OH 43017
(614) 791-9112
rmoore@ohiofarmlaw.com
www.ohiofarmlaw.com
4. Faculty: Allen H. Olson, Esq.
415 Pine Avenue
Albany, GA 31701
allen@olsonaglaw.com
5. This Will Be A Roundtable Discussion
• This is not your typical presentation –
we don’t have the answers, only the
conversation starters.
We want this to be an interactive
conversation
We will first take comments from the faculty
members and then from the audience
The hope is that we can learn from each
other’s experiences
• We want to focus the conversation on
food/ag clients
6. Why Have This Roundtable
Discussion?
• During my experience as the Chair of the American Bar
Association, General Practice, Solo & Small Firm
Agriculture Law Committee, many attorneys have come
to me and said:
I want to practice agriculture law/food law/equine law, but I don’t
know how to make a living at it.
Most of my food/ag clients don’t want to pay much for legal
services. I want to help them but I need to make a living at the
same time.
I want to have a larger percentage of my practice be food/ag but
don’t know how to do it. I need other types of clients to keep me in
business.
8. Picking the Right Clients
• How has your client
selection affected the
business of your law
practice and your ability
to get paid?
What traits are you
looking for?
What are the “red flags”?
9. Billing Arrangements
• How do you bill your food and
agriculture clients?
What has been your experience with flat
fee arrangements?
What are the advantages and
disadvantages of working with the billable
hour?
Any luck with subscription services?
How have you used contingency or partial
contingency?
Do you offer clients a bulk rate discount?
10. Billing Arrangements
•What have you found to be the
most effective billing strategy
for:
Different types of food/ag clients
Practice Areas
Contracts
Business/ succession/ estate planning
Farm real estate transactions
11. Legal “Packages” or “Bundles”
• Have you found any success selling
“packages” of legal services to food and
agriculture clients?
Example:
Cottage food operator (making homemade goods) – Letter
memorializing legal issues, business formation, insurance
review, and permit application (if applicable in the state)
•What have you found to be effective ways to
“reuse” and “resell” work product to similar
clients?
12. The Billable Hour
• How do you decide your rate?
• Do you have different billable
hour rates for different types of
clients?
• Do you bill out for
administrative help?
• Do you bill by the .1 or .25
hour?
• How do you deal with client
pushback on billable time?
13. Client Relationships
• Have you found that your
relationship with your clients
helps diminish accounts
receivable issues?
What has been the most beneficial?
What are some customer-service or
relationship tips for the food/ag client?
How do you handle facetime vs.
phonetime to work on client
relationships?
Do you send your clients a holiday
present?
14. The Retainer
• How much should an “up front”
retainer be?
• How do you get clients to refund
the retainer (i.e., the “Evergreen
Retainer”)?
•When should you not use an up-front
retainer and just bill clients
as you go?
15. Retainer Agreements/
Engagement Letters
•What terms in your Retainer
Agreement/ Engagement
Letter have been the most
useful on getting paid?
What has worked?
What hasn’t?
16. Billing Practices
• How often do you bill?
• Do you send the bills electronically or
hard copy via mail?
• What billing program do you use?
• What level of detail do you include the
bill?
How descriptive are your bills?
• What methods of payments do you
accept?
• What is your most useful tip for bills?
17. Collection Issues
•When should the lawyer send
written reminder notices?
•When should the lawyer make
phone calls?
•When should the lawyer fire the
client?
•What has your experience been
with liens for legal fees (e.g.,
retaining lien, charging lien,
security lien)?
18. War Stories
• How did you obtain your most profitable client?
• What was the best business decision that you made in your
food/ag law practice?
• What has helped you make the most money in your food/ag law
practice?
• What has been the biggest lesson you have learned in your
food/ag law practice?
• How did you handle your most difficult client?
• Describe a time when you had trouble collecting from a client.
What did you do?
19. Any last tips?
• What haven’t we
covered that has
helped you build a
successful law practice?
What has helped you
get paid/collect from a
client?
What has helped
prevent accounts
receivable problems?