Today, my guest is Mathew Kerbis. Mathew is an attorney in downtown Chicago, and he recently went solo out after spending some time in the litigation world in a bigger law firm. He has launched his solo practice based entirely on the subscription model. What's really interesting about his approach is that he has envisioned a provision of legal services in much the same way as say a gym would provide services to their members with a base fee, and then extras added on, so to speak. I'll let him explain more of that to you in the podcast episode, but it's a really intriguing approach to how to structure both your firm and your pricing model that not too many people have explored. He is going to be speaking on the subject of the upcoming ABA Tech show in Chicago at the beginning of March. This episode is full of great information, and I hope you enjoy it as much as I did.
In this episode, Neil and Mathew discuss:
- What motivated Neil to leave his litigation firm and go into solo practice.
- Being a parent, finding a work-life balance, and creating a firm that works for your life.
- Making money on a subscription model.
- Growing and serving clients as a solo subscription-based practitioner.
- The pandemic has completely changed client expectations. The old trappings of the legal industry are no longer a requirement for many clients.
- Create boundaries within your subscription model. Not everyone is going to be the best client for you and you’re not the right attorney for everyone.
- Clients are more likely to pay you an additional fee for additional work if they are already a subscriber, rather than having to find a new lawyer and get everything set up with that other attorney.
- Legal tech can help you to launch your subscription firm. There are many different options out there. Find what works for you and stick with that. Many of them integrate together to serve your clients better.
"Things happen throughout our lives that we think we should handle on our own, in part, because lawyers are too expensive. Why would I pay a lawyer $250 an hour to ask a question that can be handled in five minutes? It doesn't make any sense. But it does on the subscription model." — Mathew Kerbis
Get in touch with Mathew Kerbis:
Law Subscribed Podcast: https://lawsubscribed.com/
Thank you to our sponsors!
- Ruby Receptionist - Virtual receptionist & live call services that will help you grow your office (and save money), one call at a time - to learn more, go to http://ruby.com/ or call 844.311.7829
- The Net Profit CFO - Ryan Kimler works with attorneys who want to enjoy higher net profits without working longer or harder. With just 9 Simple Numbers, Ryan will help you drive more profit to your bottom line-and he won't confuse you with all the details! Connect with Ryan at www.netprofitcfo.com.
Get in touch with Neil:
If you’ve enjoyed the podcast, please head to Apple Podcasts and leave a rating & review for the show! It only takes a moment, and really helps me to reach new listeners. You can also head to the website at TheLawEntrepreneur.com for more information on the podcast and my legal services.
Show notes by Podcastologist Chelsea Taylor-Sturkie
Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.
* This article was originally published here