Not surprisingly, most small business owners rarely take vacation. According to a 2013 Sage Reinvention of Business Study, 43 percent of small business owners take less vacation time than they did five years ago. And from what I’ve observed among my fellow solos, vacations are even fewer and farther between. In fact, it’s not uncommon to find many solo and small firm attorneys who haven’t taken more than an extended three-day weekend as vacation in five years or more.
Solos’ reluctance to take vacation isn’t surprising. Some feel that they may miss out on a major client if they’re away from the office more than a couple of days, while others are so overwhelmed with work that they feel that they can’t make the time. Of course, cost is a factor as well, and it’s a veritable triple whammy what with the cost of the trip itself, lost revenues with fewer billable hours and the cost of bringing in an assistant or backup lawyer to cover cases.
Still, there are also costs to skipping vacation for years on end. Solos who never take a break experience burnout, reduced productivity and loss of time with family. Moreover, without vacation (and somewhat counter-intuitively), solos miss out on an opportunity to improve their practices….
July is turning into a cushy month for me in ATL Land (not a real place; more of a state of mind). The first Monday of the month was the Fourth, meaning a much-appreciated day off for my colleagues and me. Then there’s this post today, which is nearly half done and I haven’t even said anything yet. Then I’m off for two weeks on vacation, and back the last week of the month. Two more posts and another month in the books. Easy peasy lemon squeezy. (Yeah, I don’t know what that means either.)
Good thing I don’t get paid by the post. Wait, what? Really? Huh. OK, apparently I do. I’ll try and make this one count then.
It occurs to me as I pack for two weeks off that vacation is a difficult issue for small-firm lawyers. It’s easier at Biglaw: You get your four weeks a year, and there are armies of other lawyers to cover for you while you’re away. (Actually, that’s only half true; many big firm lawyers struggle to take all of their allotted time.) But in small firms, it’s much harder to take vacation or to get adequate coverage while you’re away.
It took me some time, but I finally figured out how to do it. Here then are my vacation-related tips for small firm lawyers, including the most important thing you can do to protect your vacation time….
As regular readers know, this is usually the time of year I go to Vegas, blow my bonus, and come back to work a week later angrier than ever.
Well, this year, it’s going to be different. Oh, don’t worry, when I return to Above the Law’s pages on March 14th, I’m sure I’ll be all kinds of pissed off. It just won’t be because a security guard prevented me from committing suicide by MGM lion enclosure.
No, for my vacation — which begins now and ends a week from this coming Monday, in case you’re wondering — I am going to start the process of quitting smoking….
Average law school debt for graduates of private universities hovered around $122,000 last year. With only 57% of new attorneys actually obtaining real lawyer jobs, recent graduates have a lot to consider when it comes to managing their student loan payments. Thanks to our friends at SoFi, today’s infographic takes a look at student loan debt, including the possible benefits of refinancing for JDs…
Kinney Recruiting’sEvan Jowers is currently in Hong Kong for client meetings and still has a few slots available through October 22. Evan will also be in Hong Kong November 14 to December 15. Further, Robert Kinney has been in Frankfurt and Munich this week and is available for meetings with our Germany based readers.
One of our key law firm clients has referred us to one of their important clients in the US, Europe and China – a leading global technology supplier for the auto industry – in order to handle their search for a new Asia General Counsel and Asia Chief Compliance Officer.
Kinney is exclusively handling this in-house search.
This position will have a lot of responsibility and include supervision of eight attorneys underneath them in the Asia in-house team. The new hire will report directly to the global general counsel and global chief compliance officer, who is based in the US. The new hire’s ability to make judgement calls is going to be as important as their technical skill set background.
The position is based in Shanghai and will deal with the company’s operations all over Asia and also in India, including frequent acquisitions in the region.
It is expected that the new hire will come from a top US firm’s Shanghai, Beijing or Hong Kong offices, currently in a top flight corporate practice at the senior associate, counsel or partner level. Of course, the candidate can be currently in a relevant in-house role.
The JOBS Act created new tools for companies to publicly advertise securities deals online. As a result, thousands of new deals have hit the market and hundreds of millions in capital has been raised, spurring a wealth of new business development opportunities for attorneys.
Fund deals, startup capital raises, PIPE deals and loan syndicates are just a handful of the transactions benefiting from the JOBS Act. InvestorID FirmTM is a platform designed to help attorneys equip their clients with the workflow, marketing and compliance tools to publicly solicit a securities offering online. By providing clients with the tools to painlessly navigate the regulatory landscape of general solicitation, InvestorID FirmTM helps attorneys add value above just legal services.
The Jumpstart Our Business Startups Act (JOBS Act) went into effect in 2013 and permits Regulation D offerings of securities to be advertised publicly. This means that funds and companies can now use social media, emails and web sites to market transactions to new “accredited” investors.
However, with these new powers come new pain points. InvestorID FirmTM provides a secure, fully hosted, cloud-based platform with a breadth of tools for your clients, including: