One of the things that you will notice when you first open your law office is that you will write a lot of checks. You will make a lot of payments. It will seem like there is much more money going out than there is money coming in and, at the beginning, that probably will be the case. Consequently, one of the major aims when you are staring out is to keep overhead costs as low as possible. That means you don’t need that corner office overlooking Park Avenue. Right now, you don’t have the client base to justify that sort of expenditure. With that in mind, below are some ideas for some “starter” office space, at least until you get your feet on the ground.1) Traditional Office.Traditional office space, while the most liberating and enticing, is also the most expensive. However, that doesn’t mean you can’t lease office space from the outset. The key is to put your office in a location where the cost is justified. For example, if you are a litigator and can get prime office space next to the courthouse (where everyone who walks by can see your sign: “Law Office of Blankity Blank”), then the investment could be worthwhile. Be sure to consult with other attorneys who have offices near the courthouse, and see how much business they get from walk-ins. Then evaluate whether the risk is worth it.2) Home Office.The home office is the least expensive of the options. Additionally, the expense is not ongoing – once you outfit your home office with furniture and technology, there really isn’t a further expense until something needs to be replaced. Be aware that some practice areas (i.e. criminal defense or family law) do not lend themselves well to practicing out of your home. However, others fit well into the warm environment that the home offers (i.e. elder law or estate planning), especially if you will be meeting clients there. You will need to create a separate office within your home, to separate work from home life and to maximize productivity.3) Office Sharing.Office sharing can be a great alternative to the traditional office. While still more pricey than other options, sharing an office with someone else creates a natural avenue for referrals. This is especially true if you are sharing with other attorneys who practice in different areas than you do, or if you are sharing with non-attorneys. If you choose wisely, the referrals alone can justify the cost. As with any option, the key is to do your research, and meet with the people who you could potentially share space with, prior to making any decisions.4) Virtual Office.A relatively new phenomenon is the virtual office. The variations on the virtual office seem limitless, but it is essentially a place where you can meet with clients, receive your mail, have your telephone answered, while not being tethered to the office space. Additionally, the cost of a virtual office can be much less than traditional or even shared office space. It is a great way to keep costs low while growing your law firm, and maintaining the look of an established law firm.At the end of the day, your office says a lot about who you are as an attorney, but also as a businessperson. Make wise choices now, so you can thrive in the future.
What to Watch Out For If You Decide to Finance at a Dealership
I am going to make this a simple article to read. I want you to be able to read this whole article and understand it before you make your next vehicle purchase.
Yeah, the economy isn’t the greatest right now. Yeah, nearly all industries are down on sales.
You see commercials on TV all the time talking about how now is the best time to buy a car. It is, BUT…..
You see, the auto industry is struggling. So of course, to get people to come in and purchase a car they need to advertise these “great” deals and show you how you can get their employee pricing! Sounds exciting, eh? Well if you walk in there with cash, maybe you are going to get a great deal. Actually, you probably are assuming you can negotiate a good deal.
But what if you are going in there without cash? Or without your own financing? Are you really going to get such a great deal? Well you may receive your dream car at employee pricing and they may promise you that its the best they can do on price.
Lets take a close look at their financing techniques.
Did you know that dealers really do shop for the best rate for you? Yeah, they do! However, they won’t give you that best rate! They shop for the best rate then give you a higher one. How? They are allowed to mark up your interest rate up to 2% higher than what they were quoted. That means that they are making profit off of the financing too. That can lead to you paying hundred to thousands more for your new car.
So think about this:
The car you are looking at costs $20,000.00 after manufacturer’s rebates. The dealership said they would take off an additional $1000.00 to get you to employee pricing. Sounds good, right? It is good. Now, you go to the financing office, they finance you at an 8% rate when you could have actually had a 6% rate. That will end up making you pay more, a lot more. They could have you paying a couple thousand dollars more in just interest! It makes that $1,000.00 discount look weak, doesn’t it?
The whole point here is to tell you that you need to be cautious when using dealer financing as if you know they aren’t making much from the car due to the incredible deal they gave you, they are going to make it up on the financing end of it.
Always negotiate interest rates. You wouldn’t ever take them up on their first offer on the price of the car would you? Nope. So treat the first offer on the interest rates the same too. A lot of dealers won’t even tell you what the rate is. Be sure to ask.
They have their own special programs through the car manufacturers to make up for lost profit. Don’t let them fool you. It is called dealer hold back. It is tough to negotiate into that.
Romance in the Law Office
We’ve all heard tales of office Christmas parties that ran amuck. Coworkers get caught making out in the copy room or a storage closet. Reports of after-hours office frolicking run like wildfire through the halls and floors of businesses. These shenanigans occur in all types of companies.Office romance isn’t only the tipsy pawing of revelers. Coworkers date. They even marry.Does office romance negatively affect office atmosphere and the service provided? I’d like to share a work story, and you can tell me if you think office romance is detrimental.One time, at band camp…no, not really, but it definitely left me feeling LIKE I was at bamp camp…For a time, I worked for a satellite office of a large law firm. I was the legal secretary for a husband and wife team. Being assigned to two attorneys married to each other was…interesting, to say the least. The entire staff could tell in the first two minutes on Monday mornings how their weekends went. If it had been a bad weekend, I was offered condolences.The thermostat which controlled both of their offices was located in husband-attorney’s office. My desk was conveniently across from their doors. One particular “bad weekend” Monday morning, Mrs. Attorney came out to my station and said, “Would you tell HIM to turn up the heat, I’m cold,” and returned immediately to her office, shutting the door firmly behind her.I stopped typing, fully aware that our close proximity created the strong likelihood that Mr. Attorney had already heard what she said. I was also aware that the secretary behind me had stopped typing as well. The day’s antics had begun.I stood up, smoothed my blouse, and ventured into Mr. Attorney’s office. He was typing and didn’t immediately acknowledge my presence. Finally, he said, “…yes?” I dutifully delivered the message. Silence reigned. Well, silence reigned in those four walls. I heard shuffling and whispers as staff began clustering near my station.Mr. Attorney swiveled his chair to face me, peering at me over his glasses. “Do tell, if you will, my lovely wife that if she had dressed appropriately for the weather, she wouldn’t now be complaining that she is cold.”Silence reigned everywhere.I walked out of his office. Exchanging glances with my coworkers who were poised to scatter but too curious to immediately beat a retreat, I veered right and knocked on Mrs. Attorney’s door. I gained entrance, and dutifully delivered the quoted reply. Silence reigned again. Coworker shuffling had ceased at that point. All ears were at attention.Mrs. Attorney said, in a voice an octave higher, “Will you please inform him that my state of dress is none of his business and that if he ignores a reasonable request it will not bode well this evening.”I returned to Mr. Attorney’s doorway, repeating Mrs. Attorney’s words. His response was, “All reasonable requests are considered. It is the unreasonable requests that are denied, in toto.”I updated Mrs. Attorney and announced that I was going back to my desk, to work (while wondering if emphasis on “work” filtered through).My fingers typed senseless words on the screen as the thermostat dance began. She walked in his office, flipped the control and went back into her office. The sound of the heat kicking in muted the return of coworker shuffling. They backed away but remained a rapt audience.His chair squeaked as he got up, turned the heat off, and sat down with more squeaking.Heels clicked (which was pretty amazing since the floors were carpeted) as she made another control-flipping appearance.I chose to take my morning break earlier than usual that morning.Yes, I believe office romance definitely affects office atmosphere. Based on my personal observation, it affects client service as well.