TOP 10 YEAR-END COLLECTION TIPS
FOR FIRMS BIG AND SMALL
by Daryl Lawson of
Squire Sanders and
John Podbielski of
Ungaretti & Harris LLP
COLLECTION TIPS
FOR FIRMS BIG AND SMALL
The importance of the year-end
collection push at many law
firms cannot be minimized. You
could probably go from one
mid-to-large-size law firm to
another throughout the country
and find one thing they all have
in common from a revenue
standpoint — they all collect 25
to 40 percent of their annual
revenue in the last quarter of
their fiscal year. At some firms,
it is common to collect 20 to 25
percent of their yearly revenue
in the last month alone. The
last few months at these firms
is often a nail-biting, stomachchurning experience for firm
management and equity
partners, in which they hope it
all comes together. Here are 10
tips that should help firms meet
and hopefully exceed year-end
collection targets.
