One of the first things I learned as a ski patroller was to assess a patient’s ABC’s: Airway, Breathing and Circulation. These are not high-level functions but they are vital to survival. In a healthy individual, they happen automatically and regularly. When they are disrupted, they must be treated immediately. Until the patient is handed off to a higher level of care, the ABC’s must be continually re-evaluated to ensure the patient’s health and safety.
Recording time and billing are not high-level functions, but they are vital to the survival of a law firm. A law firm’s revenue system must function automatically and regularly. When this system gets disrupted, as when time does not get entered or invoices are not sent out after the end of each month, the health of the firm is compromised.
When is the last time you stopped and checked your firm’s ABC’s? Is time entered daily? Do bills go out promptly after the end of each month? Is revenue steadily flowing in? Is the pulse of the law firm strong and regular or is it weak and irregular?