In today’s video, Attorney Sean Claggett of Claggett & Sykes Law Firm sits down with author and educator, Michael J. Swanson to discuss the importance of investing properly in your cases.
Why is it Important to Properly Invest in Your Cases?
Capital Structure: It’s Important
A Fair Warning about Your Firm’s Capital Structure
Capital structure probably isn’t at the top of the list when it comes to your concerns about your law firm. After all, in order to have a firm, you have to win cases, or you probably aren’t bringing in any money. There is a whole lot of other concerns that come with achieving a case victory, so it’s easy to see how capital structure could quickly fall into the backdrop. Hopefully you have an experienced accounting employee or office manager, but sometimes that just not possible when you are in the first year or so of starting your own firm.
If capital structure isn’t something you pay much attention to, Sean Larkan’s article might just help bring the importance of capital structure back to priority level. The article, Ignore your law firm capital structure at your peril, covers several good points, including why capital structure matters, why you might trick yourself into thinking it doesn’t, and how you can prevent it from becoming a problem. Go ahead, give it read.
Cash or Check? Credit.
Credit cards are a staple part of American purchasing. Almost everyone has at least one credit card, whether they use it often or save it for emergencies. Surprisingly, some attorneys, along with other professionals, choose not to accept payment via credit card. A few years ago, this would have been understandable, but technology has changed so much since then.
Those changes and improvements in technology, especially mobile technology, have made it easier than ever for all business owners to accept credit cards. Obtaining the information needed to know about credit card processing is even easier. Check out What Attorneys Should Know About Accepting Credit Cards, an article from FindLaw For Legal Professionals, to learn how you can get started today.
Affordable Funding for Mass Torts
It’s no secret that funding mass torts can get expensive really quick. Many small or mid-size firms often have to go about the difficult task of obtaining the needed capital from an outside source, contributing to the overall cost and potential loss of investment.
Fortunately, there is an option when it comes to funding a mass tort action that won’t break the bank. Check out Michael J. Swanson’s article, A Unique and Extremely Low Cost Way to Fund Mass Torts, to learn about case expense funding, and how you can fund your mass tort action.
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Even a Small Law Firm Deserves Its Own Bank Account
Why You Should Open a Business Bank Account for Your Firm
There are millions of small businesses in the United States, and many of them of have a business bank account. There a numerous reasons to have a separate bank account for your law firm, even if you are the sole owner. But don’t take it from me. I came across an article by David M. Steingold, in which he covers the following:
- The Reasons to Have an Account For Your Firm
- The Required Documents to Open It
- The Actual Process of Opening the Account
Check out his full article, Opening a Business Bank Account, to get the full scoop.
Copyright: 123RF Stock Photo