Celebrating 10 years! 2007-2017

how do you find business worth 3~5 million

Anyone care to share their story or someone else story? mrlollipop10/24/17
I know a guy who worked for Cottman, a franchise of transmis flyer1410/24/17
Can someone explain or provide examples how you generate 3-5 noobster10/24/17
That's easy. Just be a Biglaw partner with 10 associate att pauperesq10/25/17
revenue or profit or a business worth 3-5 million? whiteguyinchina10/24/17
My bad....I meant a client that can generate 3-5 million rev mrlollipop10/25/17
Easy...pull up the list of Fortune 500 companies. Get one o jd4hire10/25/17
Meet the next larry flynt. Seriously though, you don't mi dingbat10/25/17
Start with a client worth 7-8 million. The old joke that you secondcareerlawyer10/25/17
You obtain multiple clients. My partner has probably 10-12 lolwutjobs10/25/17
200K each? Can you provide examples of what those billings noobster10/27/17
Be affable, get on a regional bank's commercial closing list retard10/25/17
Don't underestimate the power of schmoozing and gift giving. barelylegal10/25/17
the marijuana industry is terra incognita for most states. thecharmingmresq10/25/17
I have a family friend who was a solo taking anything that w spaghetti10/26/17
The billing work product of most single attorneys will never mrtor10/26/17
mrtor, you said you need multiple clients to bill $3-5 milli noobster10/27/17
It's still not reasonable for a solo, even with 10 clients. pauperesq10/27/17
mrlollipop (Oct 24, 2017 - 9:58 am)

Anyone care to share their story or someone else story?

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flyer14 (Oct 24, 2017 - 11:43 am)

I know a guy who worked for Cottman, a franchise of transmission shops up and down the east coast. He went from general counsel to business partner when the owner retired in 1979. Grew from 80 locations to several hundred before finally selling in 2004 for a very princely sum. $77 million or something like that.

I believe Temple is still a T2.

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noobster (Oct 24, 2017 - 1:33 pm)

Can someone explain or provide examples how you generate 3-5 million in billings per year from one corporate client?

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pauperesq (Oct 25, 2017 - 8:46 am)

That's easy. Just be a Biglaw partner with 10 associate attorneys under you billing exclusively to that one client.

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whiteguyinchina (Oct 24, 2017 - 8:34 pm)

revenue or profit or a business worth 3-5 million?

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mrlollipop (Oct 25, 2017 - 8:06 am)

My bad....I meant a client that can generate 3-5 million revenue for you. Of course, in the legal business

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jd4hire (Oct 25, 2017 - 11:53 am)

Easy...pull up the list of Fortune 500 companies. Get one of them who heavily need regulatory compliance or are constantly involved in corporate litigation, acquiring fellow businesses, etc. Then pull them down as clients.

I'm kidding. This would not be easy. You need to be a big law and know people. These things don't just randomly fall into place. Alternatively, you could have a client who has amazing success and insists on keeping you.

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dingbat (Oct 25, 2017 - 2:53 pm)

Meet the next larry flynt.

Seriously though, you don't miraculously obtain a whale of a client out of the blue. Either the whale was your client back when the whale was a minnow, or you've already got a bunch of elephants and new ones keep joining the herd.

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secondcareerlawyer (Oct 25, 2017 - 6:49 pm)

Start with a client worth 7-8 million. The old joke that you become a millionaire by starting with 2 million is sadly true for some clients.

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lolwutjobs (Oct 25, 2017 - 8:16 pm)

You obtain multiple clients. My partner has probably 10-12 clients that get billed like 200k each and a bunch that get billed like 50k annually

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noobster (Oct 27, 2017 - 2:49 pm)

200K each? Can you provide examples of what those billings look like...

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retard (Oct 25, 2017 - 8:26 pm)

Be affable, get on a regional bank's commercial closing list, do that for a while effectively and use it for street cred to get another bank. Rinse and repeat.

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barelylegal (Oct 25, 2017 - 10:18 pm)

Don't underestimate the power of schmoozing and gift giving.

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thecharmingmresq (Oct 25, 2017 - 11:46 pm)

the marijuana industry is terra incognita for most states. The revenue is there, the laws aren't. Go West, young man, Go West!

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spaghetti (Oct 26, 2017 - 2:14 am)

I have a family friend who was a solo taking anything that walked in the door when he graduated in the 70s. He incorporated what is now a multinational corporation that started as a handful of friends. He got some obscene amount of shares as part of his compensation, thinking they'd be useless. A decade later the company went public and he was worth tens of millions overnight.

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mrtor (Oct 26, 2017 - 9:33 am)

The billing work product of most single attorneys will never be worth $3-5m to a single client. If you want that kind of money, you need multiple clients or a small army of underpaid and overworked underlings.

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noobster (Oct 27, 2017 - 2:47 pm)

mrtor, you said you need multiple clients to bill $3-5 million per year. Makes sense.

So let's say you do have 10 different clients. Can you provide examples of what the billings would look like for each of these clients over a one year period?

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pauperesq (Oct 27, 2017 - 3:12 pm)

It's still not reasonable for a solo, even with 10 clients. Putting aside all of the variables, and assuming you can justifiably charge $500/hr. for your time, then expect to bill 6,000 hours to generate $3m in receivables. Now, ask any attorney what a nightmare 2,000 hours/yr. can be.

This is assuming, of course, that you're going off straight billable time and don't have a flat or contingency fee agreement on certain matters.

I can only speak to my part of the world, but there isn't a single solo I know of that is pulling in seven figure receivables every year on straight billable time. Any attorney around here that has that much work also has other attorneys doing most of the work.

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