It is time to start thinking about your firm’s goals for 2013. Consider these 13 tips to help you cut costs and make your business more profitable.
- Outsource your legal research and writing projects to a freelance attorney. There are many freelancers that excel in research and writing, and they provide an efficient solution to your dread of pouring over cases or revising that motion for the 15th time. Allow someone who enjoys research and writing to bear the burden for you. Learn more about freelance legal work here.
- Take advantage of free software. There are a number of options, including OpenOffice for word processing, spreadsheets, and database management. You can get Outlook-like email and calendaring through Mozilla with Lightning. There are free accounting providers too…check out Gnucash and Outright.
- Take your marketing efforts on-line. There is no excuse for not being familiar with at least one free social networking platform like Linked-In, Facebook, Twitter, Google+, Reddit, or blogging. Your branding efforts are complemented by an online presence, and it is very simple to become familiar with these tools.
- Buy IT service in bundles. Rather than paying a monthly fee that may be wasted if you have do not have any technology issues for a few weeks, ask your IT guy to give you a bundle of hours at a time. Even if the hourly rate initially seems high, you know you are using only what you need and not paying for services you do not use. Plus, the “IT guy” market is competitive, and he or she will probably be willing to negotiate to keep your business.
- Go online for telephone and fax service. Verizon, Skype, Vonage, AT&T, and GalaxyVoice are just some of the providers that give you variations of unlimited calling for between $20.00 and $35.00 a month. A great review of the quality of the various providers can be found here. Fax service can be had for between $5.00 and $20.00 a month with services like Nextiva, Myfax, and Metrofax.
- Buy supplies online. Most large office supply retailers now provide free delivery and features that “remember” your favorite items, so save yourself and your employees time by ordering online.
- Go green. It goes without saying that costs for paper, toner, printer maintenance, and the like can easily add up to thousands of dollars per year. Further, storage fees for mountains of paper will quickly leave you buried. Print only what you absolutely must, print double-sided when possible, and teach yourself to review documents on-screen.
- Use free online storage providers. Rather than paying hundreds of dollars for back-up storage devices, consider using free services like JustCloud and Box. However, be cognizant of privacy, privilege and security issues and make sure your provider encrypts the files during transmission using an HTTPS connection. Learn more here and here.
- Outsource time intensive work to a freelance attorney. Review of voluminous contracts or responding to a document-heavy request for production may be better served by hiring temporary outside help. Sending the work to a freelance attorney frees up your time to focus on your case and client, while ensuring the work receives the attention it deserves.
- Familiarize yourself with all possible small business deductions. The IRS offers online workshops to help small businesses learn about their tax rights and responsibilities. Here are twelve deductions that many small businesses might overlook.
- Use “group buying power.” GroupEsq uses the buying power of groups of attorneys to get savings on things like CLEs, process servers, and legal research.
- Cut back on memberships in professional organizations. If you are like me, you signed up for nearly every possible networking group at some point in your career. As your practice narrows and you become more focused on certain areas of the law, cut back on memberships in groups that are not relevant to you anymore. This should cut back on the amount of junk email you receive, too!
- Print your own postage and sign up for business accounts with the major shipping companies. Fed Ex, USPS, and UPS all offer ways for you to print postage and shipping labels directly from your computer. If you are an account holder with these companies, you may be eligible for special discounts and bulk pricing.