Money In = Money Out

Things are going great. However, it seems the minute we get our hot little hands on some cold hard cash, it burns a hole through our pockets (see post below re: Google Adwords).

Take the fact that my laptop computer just up and died a few days ago. I've had it for four years, since right before law school, and it's served me well. So off we went to Fry's, Wal-Mart, and Best Buy. We ended up purchasing a replacement at Costco.

It's gorgeous. A Hewlitt Packard G60-243CL.

What I really like about it is that it has a bigger keyboard. My old laptop was tiny. I wanted it that way because I had to haul it around campus most days. The new laptop won't need to be dragged from room to room, so I got a wider keyboard (and screen) and it has an additional number keypad to the right of the main keyboard. Sweet.

Speaking of the number keypad, it was easy to cook up a monthly budget for our law firm. We're slidding in at about $550/month in fixed expenses.

That amount covers:

• Rotary (two clubs, we each belong to a seperate Rotary. Our motto is divide and conquer. Rotary is, by far, the largest chunk of our monthly budget).
  
• Utilities
• University Club (our "office" for meeting prospective clients).
• Internet
• MyFax monthly fee
• Monthly website hosting fee

Adding a few extra fixed expenses such as health insurance and undergraduate loan payment (the mega law school loan is still on deferral) brings it to about $900/month. I did not include our ridiculous obsession with Google Adwords either. I'll have to gird up my loins for that one.

It's good to know the numbers up front and now they're on the office wall. It's certainly motivation to keep on truckin'.

A nickle ain't worth a dime anymore.
~Yogi Berra

Eight is Great

I was working on our database today, organizing our electronic files categories according to their legal need. We have eight beautiful little client files, all categorized to perfection. So pretty! I feel as though they are my children--I am so proud of them.

Anyone use Google Adwords? We started using it and it is addictive. It's incredible to see how many impressions you get, then how many people click through.

We pay per click, however, and the clicks can get pricey. For example, if you wanted to be at the top of the list when people search for "Los Angeles Personal Injury Lawyer" you'd have to pay about $15 per click. Fortunatley we're not in that area (haha..yet) but it can get crazy.

For example, our loan modification ad is hot. We get about 10 clicks per day, but they cost us approximately $5 per click. And we've only gotten about 7-8 inquires, with two people signing on for assistance. Every morning I check the balance and have to throw about $50 in the proverbial Adwords Fire. But, it is interesting to study the traffic to our site and see where people are coming from, as the analytics are very good.

Although I'm thrilled with of our eight files, everytime someone writes a check, it goes straight to advertising! It'll be a blog-worthy event when we get ahead of this prediciment. Will keep you posted. If anyone has tips on Google Adwords, please share!

For a business not to advertise is like winking at a girl in the dark.
You know what you are doing but no one else does.
~Stuart H. Britt

Two Pictures in ONE Day

Okay, so we didn't want to jinx ourselves, but we have good news.

Let's hear it for not one, but two new clients!

No estate plans here, we're doing what's hot in this region: loan modification and foreclosure avoidance. There are so many scams out there. We look forward to assisting these folks and providing advice and counsel.



In other good news, we got our first settlement check for our rent deposit return website.

Paul wrote a mind-blowing demand letter, and the check just came in the mail yesterday. The client is over the moon and so are we. This could be big. More on that in a few weeks, when it's bigger than one check. ;-)

I know the price of success: dedication,
hard work, and an unremitting devotion to
the things you want to see happen.
~Frank Lloyd Wright

Slow as Molasses

Hopefully by the end of next week Green Street Law will have more news. Until then, we can't risk jinxing anything. One can become very superstitious in this practice.


Feels like molasses.

If we are facing in the right direction, all we have to do is keep on walking.
~Buddhist Saying

Drum Roll Please...

Ladies and gentlemen, boys and girls...we have our first family law matter!

Considering we walked out of the first day of Family Law class, I was surprised to get a referral for a divorce. Um, sure, we do divorces!

The initial meeting was a little rough, due to our lack of experience (this is where I thank God we have a list of helpful attorneys in our contact database). We wouldn't have taken the case save for the facts that there are no children (those can get really ugly and last a long time) and the wife (who we represent) has a moderate income.

Due to these two factors, we are going to do the "unbundled approach." That means we limit our representation to assisting with specific items such as document preparation and coaching, rather than "full representation" which would entail her paying a hefty retainer fee. Several attorneys who practice divorce law complain that when they burn through the retainer and ask for more, the client then squeals "I have no more money!" and the lawyer is left to do the rest of the work for free. It puts both attorney and client in a real bind.

Unbundled legal services is a great solution, providing affordable legal services to middle income families, and allowing attorneys to do many family law matters on a flat fee basis.

Anyways, off the soapbox. Wishing you all a great weekend!

Ah, yes, divorce ... from the Latin word meaning
to rip out a man's genitals through his wallet.
~Robin Williams

Tell Me Your Story

My apologies for the lack of entries recently. It's not that we've been bowled over with clients throwing themselves at our door like voracious zombies (that one is for you, James!).

Actually, we've had several phone calls. But many are those we like to call "Story Tellers."

Take "Mike," for example. He calls me on a Saturday (at this point, we'd answer the phone for a client on Christmas Eve if we had to). He's talking really fast, something about a physical illness he had which was something something with his Veteran's benefits.... Finally I interject and ask for his name and telephone number, politely stating that I'll need it in case we get disconnected.

He tells me his name is Mike. He gives me his area code, then goes off on another long tangent about how the Veteran's Administration misdiagnosed him, yada yada yada. I interject a second time, explaining it's a Saturday and I actually have to meet a friend shortly, but I'd be happy to talk to him more on Monday, if he'd just give me the rest of that phone number.

He hangs up. I kid you not!

Now seriously people, did he get anything out of yaking my ear off for five minutes? I don't know. But, I've run this by several other attorneys and they agree it's pretty common. Some people just want to talk, share their story.

One more thing they don't teach in those non-existant Law Firm Management classes at law school.

That's my story, and I'm sticking to it.

If you've heard this story before, don't stop me, because I'd like to hear it again.
~Groucho Marx

It's My Birthday and I Got a Stapler

My mom is in town, and she took us on an office supply blow-out buying spree at Costco today. Her gifts will cover both of our birthdays (mine being May 12th) and Paul's in July.

On the long-coveted list:

• A rockin' STAPLER--this baby can do 25 sheets. It is HOT.
• A Brother 4-in-1 machine. Faxer, printer, scanner, copier. Wow!
• Paper--5,000 blindingly white sheets.
  
• Business security envelopes.

She also bought me a pair of shorts, running socks, a new shirt, and some Philips Sonicare toothbrush heads. What can I say, I'm a practical woman.

Thanks Mom! Seriously, the "business" gifts are much appreciated because they will really increase our productivity. Let's hear it for Liz's Mom!