Law Firm Rainmaking for Small Law Firms - Strategist
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If you want to increase your law firm's revenue, think twice before raising your rates. That's the take away from a new report by Thomson Reuters Peer Monitor, which surveyed data among firms and found that those who raised their rates the slowest tended to have higher demand and revenue.

The report's results go against conventional practice, which typically sees firms raising billing rates in order to grow revenue -- a practice that could need some rethinking, in light of the study's findings.

Four years ago, Congress passed the Jumpstart Our Business Startups Act, or JOBS Act, which removed barriers that keep the public from providing capital to startup businesses; equity crowdfunding was about to be legalized. Then, just this May, the SEC's "Regulation Crowdfunding" rules went into effect. Suddenly, every regular Joe and Jane can become an investor in new companies.

It's one of the biggest changes to securities law in decades, and it could result in a lot of small time investors, and small companies, needing your legal guidance.

If you want to make it rain, you've got to hustle. But some of us would prefer not to. Maybe you're an introvert, or maybe inauthentic schmoozing turns you off, or maybe you'd just rather go home after a long day and take a nap. We understand.

But you're still going to need to get out there and make connections anyway. So here are some tips to help you network -- tips that don't require you to collect every business card or attend every cocktail party.

Over the past decade, craft brewing has taken off, with hip, local microbreweries popping up everywhere from post-industrial Brooklyn to downtown St. Louis, just a DIPA's throw away from the Anheuser-Busch mega breweries.

But your small batch sours are no longer the hot new thing when it comes to drinking. The cool kids these days (along with plenty of discerning drinkers) are all about craft distilling, seeking out the best microvodkas, the rarest whiskeys, and the most artisanal bitters. And when craft distilling booms, so too does the need for skilled, knowledgeable attorneys to guide small distillers through this highly-regulated industry.

Growth is good. But how do you go about it? You could take in more clients, bring on higher-paying clients, or make more efficient use of the resources you already have.

To help you out, here are our top posts on growing your small or solo firm's profits, from the FindLaw archives.

Succession planning isn't easy. After all, no one likes to think about death, particularly their own.

While many adults can cope with their mortality long enough to put together a will or estate plan, when it comes of business succession planning, one of the biggest obstacles facing lawyers is convincing business owners to just get started. Here's how attorneys can help clients get over their inertia.

If arguments about gender parity, viewpoint diversity, and good old-fashion equality hasn't convinced you of the importance of women in leadership, maybe this will: having women in power is connected to increased profitability.

A study recently released by the Peterson Institute for International Economics and EY (Ernst & Young) shows that having a woman in the highest corporate positions is correlated to better profits. The legal industry, long dominated by men, might want to take note.

The health care industry continues to be reshaped by changes in federal law and technological developments. Health care companies are merging at greater rates and putting more attention towards corporate governance. Patients are starting to receive their first video consultations and turning to health care apps.

Many of these industry developments have legal implications that will directly influence health law practitioners this year. And you don't need a crystal ball to see what those issues will be. Bloomberg BNA's Health Law Reporter's 2016 outlook is good enough, outlining the major issues that will face lawyers and the industry in the year ahead. Here are the highlights.

Hoverboards were 2015's Cabbage Patch Doll or Tickle-Me Elmo -- that is, the gift to get this holiday season. The self-balancing platforms on wheels (think Segway's, but without anything to hold on to) are everyone's favorite new toy. That is, when they're not dropping you on your back or bursting into flames.

And now, lawyers want in on the fun too. Here's why the New Year may be the year of hoverboard liability.

The home health care industry is thriving. Fueled by an aging Boomer population and the desire of many patients to be treated in their own residences, the at-home provisioning of nursing and therapist care has become a $30 billion industry, with 12,000 Medicare-certified agencies.

That industry growth has lead to an increased need for attorneys experienced in Medicare reimbursement, industry regulations, and old-fashioned litigation. As a practice area, expect to see home health care law grow as quickly as the population grays.