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Solo In Chicago

...empowering the Second City's entrepreneurial legal community

Thursday, February 01, 2007

The importance of your "billing package"

As you've probably noticed from some of my recent posts, my firm has been doing quite a bit of thinking about billing/collection policy. Actually it's a very thorough re-vamp that I'll speak about more in weeks to come...it's not totally finalized. Let me be frank, our receivables have been too high and we need to be more hard-assed in our billing/collection.

One thing I'm going to change slightly is our billing package that our typical client receives each month. Currently, a typical client of our firm gets their itemized bill with descriptive explanation of all work done on their case and time spent and amount due. We attach a credit card fill-in form for client's that want to pay by credit card and a self-addressed stamped envelope. Nothing too earth shattering and likely fairly similar to most lawyers. The one addition to our billing package is now going to be a transferable coupon for a free legal consultation or 50% off of representation in a residential real estate transaction (the only thing I'm debating is what's the most attractive and feasible discount to provide). Essentially I'm copying what I see in virtually any bills we get...there's always additional advertising enclosed. By making the coupon transferable our current clients can give the coupon to their friends.

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