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You can have plenty of clients, unparalleled courtroom success, a stellar reputation -- and your firm can still go belly up. That's because running a law firm requires business skills on top of your legal ones. And many lawyers simply don't know how to tell if their business is doing well or not.

Enter KPIs, or "key performance indicators," signposts that can help you know whether your firm is thriving or diving. You're already familiar with the one that almost all firms use, the number of hours billed. But smart, successful firms need more than just one metric to measure their success.

Why hang your own shingle when you can buy one? If you're looking to be a solo practitioner or run your own small firm, buying an existing practice can be an efficient alternative to building your own book of business.

Sound appealing? Here are some tips on how to get started.

A client company has filed Chapter 11 bankruptcy. Now the real struggle begins. Without access to capital, the most promising businesses may go under before they are able to reorganize and exit bankruptcy. Thankfully, so-called "debtor-in-possession" loans are commonplace.

Commonplace, but not straightforward. For attorneys guiding clients through bankruptcy, understanding DIP financing is essential, from the basics, like strategies for lining up DIP financing and common features in DIP credit agreements, to emerging trends that are impacting everything from who is offering DIP loans to who can secure them.

A man cannot have two masters. But a legal matter can, at least when those two masters are co-counsel.

You've probably heard horror stories about co-counsel situations; anecdotes about overbearing, intolerable co-counsel, about attorneys who steal all the work, or lawyers who are inept, sabotaging your chance for a big payout. (We could go on.) But working with co-counsel doesn't have to be difficult, if you do it right.

How Do You Respond to 'You Cost Too Much'?

Something that many solo attorneys hear perhaps all too often is the interjection: "You cost too much!" We're sure you've heard this one before.

Even with the advancement in technology making a fair number of attorney services quickly obsolete, there are still a great many tasks that should only be handled by a competent attorney. Here are a few tips for handling sticker-shocked clients.

Lawyers Should Prepare for Two Seasonal Divorce Spikes

Are you a family lawyer that handles divorces? If so, the findings that were presented at the annual meeting of the American Sociological Association may be of interest of you. Apparently, divorce could have a correlation with the seasons.

It's old news that divorces spike after the winter holidays. But the new findings indicate that there may be a second seasonal spike.

Augmented reality takes the real world and graphs a new universe on top of it. Unlike virtual reality, augmented reality doesn't remove the outside world, it just adds a new layer. You can use your phone to spot a Pikachu on the sidewalk, for example, or strap on some goggles and start crafting a virtual sculpture in your living room.

The most common AR application these days is, of course, Pokemon Go, the new AR app that lets you catch make-believe monsters in the real world. But by creating a new layer of reality, one that could lure users into potential dangerous situations, AR companies could be exposing themselves to liability for users' personal injuries.

Solo Expansion: Making the Giant Leap to Small Firm

Every solo attorney has at least entertained the idea of expanding from a single person operation into a full-fledged law firm. Dreams are good, but expansion should only be undertaken if you have a plan in place.

Here are a few tricks to help you create your plan for growth.

Is Your Law Firm Ready for 'Free Agent Season'?

Lateral hiring is becoming the standard hiring model within this industry. There was a time in the labor field where people would get hired by a particular firm, do well, and expect to stay there for the rest of their career. The reality is that this way of working is dying -- particularly for younger associates. It's basically the law firm absorption of the new gig economy.

Today, the top firms in the country are aggressively looking for ambitious young attorneys whose eyes are wandering for greener pastures outside of their current setup. Your firm may be looking for new talent, but remember, your talent could be looking for a new firm. How do you keep the current talent you have whilst growing in this increasingly cut-throat business?

After years of demand growth, things are starting to look down for BigLaw firms. Large firms are seeing their first drop in demand since 2013, according to a recent report from Thomson Reuters Peer Monitor. (Disclosure: Thomson Reuters is FindLaw's parent company.) Demand is down 0.9 percent, while productivity has dropped 2.8 percent, even as firm headcounts have grown.

What's that mean for smaller firms and solo practitioners? Could this legal demand slump impact you as well?