One of the biggest issues for all businesses is their finances and budgets. This is emphatically true for small businesses and micro businesses. These businesses do not often have the financial cushions to handle drastic, sudden expenses or costs that have not been budgeted for.
When these issues arise, these companies often need to consult or rely on law firms for guidance and help. But that help comes at hefty and unpredictable costs themselves due to hourly billing, which just compounds on the problem.
A subscription law firm provides a new, better option for businesses and solos that need or want legal advice while being able to keep costs level and within budget.
WHAT ARE SUBSCRIPTION LEGAL SERVICES?
A subscription law firm offers clients legal services, either specified or within general ranges, at flat, recurring fees. These often are billed at either monthly or annual renewals. So, rather than the current standard of lawyers billing based on time, clients receive a recurring bill based on set services offered.
HOW CAN SUBSCRIPTION LEGAL SERVICES BENEFIT SMALL BUSINESSES?
This new model of legal services gives benefits to the small and solo business owners. Some examples are:
Ongoing Legal CareSubscription legal services allow the business and the law firm to become proactive, rather than reactive. This shifts the law dynamic into being something you use to grown and help go right, rather than being something reserved for the bad times. With a subscription law firm, you have the ability to reach out to your attorney before an opportunity is missed or before a small problem grows into a big problem (read: costly).
Attorneys That Understand Your BusinessTraditional legal services often focuses on a single action: one contract, one business formation, one lawsuit. But clients often do not have a long-term relationship with attorneys who understand their business inside and out. A subscription law firm changes that so that your attorney stays in touch as you grow. With repeated contact, your attorney becomes more familiar with your business and its risks, and can warn of potential problems before they become problems.
Attorneys Part Of Your TeamSmall organizations don't often have the budget or resources for a dedicated, in-house counsel. Subscription legal services allows the organization to have an attorney available at any time, at a cost far less than hiring their own. And the business gets to save on office space and resources too!
Clear and Predictable CostsLaw firms traditionally bill at hourly rates, with confusing and complicated invoices. This leads to small businesses exceeding their planned budgets with surprise bills while not understanding what these costs are going to. Since subscription law firms operate on a monthly or annual fixed fee, business owners know their expenses ahead of time, allowing them to set and stick to budgets.
Efficiency and ResultsSubscription law firms don't rely on hourly billing to generate revenue. This means that the law firm can worry less about the clock and generate fast, efficient, quality results for clients without worrying that it will hurt their bottom line. And clients can get legal support quickly and professionally without worrying about surprise costs hurting their bottom line.
The all-encompassing benefit of subscription legal services for small businesses is access. Access to justice. Access to advice. Access to help.
By having on-demand attorneys and legal services at fixed costs, small businesses can afford the help they need for the business, not only to minimize risks but to be prepared for opportunity. We all know the small business owner stressing about the next bend in the road, or even the road behind them. With subscription legal services, they have that helping hand and that ear to bend.
DISCLAIMER: This post, and all posts on DillsLawFirm.com are meant to provide basic education on a range of legal issues. Nothing written here should be construed as legal advice regarding any particular situation. No attorney-client relationship is created by this post or the information contained herein, and this post may constitute attorney advertising. To get specific legal advice, you should seek out the services of an attorney.