Owning a small business really is tough. Suddenly and without warning, no one needs legal advice. Well, no one who is willing to pay for it. I went from 2-3 inquiries a week (with about 1 inquiry every other week turning into a client) to no calls. Other attorneys in town have told me the same story.
The thing is, you still have to keep the office open, for when business picks up. The expenses don't go away. And though most people probably believe attorneys make tons of money, we are required to supply so much stuff (storage for files, fax access, secretarial staff, office space...the list goes on and on). We are required to handle each case a certain way, and if we cut any corners, we risk a lawsuit and lose of our license. These things do not go away.
So while an attorney might charge $175 an hour for legal work (not what I charge, BTW), they might actually only make $25 an hour in income. Or even less, if they are still paying ongoing expenses but suddenly have fewer clients.
Etcetera.
6 comments:
I hope things pick up!! If I know anyone needing anything, I'll let you know!
Maybe you should go chase a few ambulances ;-)
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