Re: MIAC trying to force out St Thomas
Originally Posted by
runtheoption
Let's use Gabe's numbers for his cousin as an example just on straight revenue. Let's say he bills at $350/hour, which is possible in the F/M market but I think is probably on the higher end for a solo practice around here. In order for him to produce $200K in 3 months (let's use 12 weeks), he would need to bill out 572 hours. That works out to almost 48 billable hours per week.
Now those are just 48 billable hours per week where actual work is being done for a client. There are additional hours involved with running his business that will suck up a lot time that are not billed -- IT issues, cold-calls from vendors, phone calls from prospective clients, paying bills, getting/reading the mail (which is still a thing with attorneys), "freebie" advice given to close friends and family, banking activities, actually billing your time and sending invoices to clients, collecting on delinquent invoices, continuing legal education which is mandatory in every state you are licensed in...I think you get the picture. Now throw in an hour lunch, running a personal errand here or there, taking a vacation day, etc. You are looking at some very long days/week -- a 60-70 hour work week would not be uncommon to average 48 billable hours per week.
It's attainable, but a lot of work. God Bless America.
I don’t know much about one man small offices but a 60-70 work week for an associate trying to make partner in a Twin Cities law firm would likely have to include a vacation day. Think they are normally trending toward 100 hrs per.
Don’t forget that billing has minimum increments. Fifteen minutes for a phone call even if it takes less than one minute.
If his mouth is open, he’s lying.