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Solo In Chicago

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

Saturday, November 08, 2008

How Many Billables do You Bring?

That's the subject written about here at Law.com. The above or some question regarding your "book of business" is a question you must be able to answer for several reasons.

Not to be blasphemous since right now I'm a passionate sole practitioner but the reality is that there's a great chance that one day I won't be and really shouldn't be. There are many directions that this ship may head in...continue to build a great legal services business (which would require us to add additional attorneys), merge with another firm, or possibly take my book of business to another firm. And for the second two of those three alternatives direct knowledge of income/book of business/billables is critical.

I've had job interviews over the last couple years myself and this question is very relevant and always asked and indeed it's probably your biggest selling point as a potential job candidate...unlike Jane Doe who has been an Associate at law firm X, you've built your practice up to $200k (or whatever) in billables over the last three years and thus the potential new firm is getting not only a competent attorney but also someone who brings immediate new income to the firm.

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