Mina Sirkin's Page

If you are a lawyer, your most valuable business asset is your book of business or your list.

Why? Your practice has no value without it. If you ever contemplate selling your practice, you must have a book of business. Yes, this is an actual book with names, addresses, email addresses, other valuable data, and dollar amounts this client has generated for you over the years.

When time comes for a lawyer to retire, his legal files are not an asset of the firm. The legal files are property of the… Continue

You thought the the legal industry was free from scams? Well, you were wrong.

The number of scams that have hit the legal market have increased in the last two years.

Here are the tell tail signs of some scams:

1. The scammer makes outrageous claims of financial success.

2. Scammer claims that he/she achieved the alleged multi-millions or huge success in a relatively short amount of time.

3. The scammer wants you to believe that you too can make a huge amount of money in a short time, if yo… Continue

If you have never done any work outside of the profession of law, you may actually believe that there is competition out there. This is a false belief. I interviewed some of the most successful business people, and they all pointed me to one thing: Whitelabel rights. Lawyers are not traditionally trained to think outside the box. This concept can create multiple streams of income for lawyers who are willing to step out of the competition mode and into the business development mode.

Here's what… Continue

Law Office Cash Flow Management 101
By: Mina N. Sirkin, Esq.

Time is money, and cash flow is king when it comes to the financial management of a growing law office. There are two aspects of cash flow: 1) How much time does it take for you to get paid on each invoice; and 2) How fast do you have to pay your employees and vendors. The time lag between when you have to pay your vendors and employees and the time you collect from your clients is the key problem, and the solution is cash flow manage… Continue