Law Practice Management and Technology
The Bottom Line Volume 35, No. 4, August 2014
Content
- Beyond the Status Quo: Status Reports
- Lpmt Programs at the State Bar of California Annual Meeting
- MCLE Self-Study Article Ethics and Settlement: Successful Negotiations and Mediation In Your Practice
- Message From the Chair
- Message From the Editors
- The Evolution: Strategic Advisor and Strategic Advocate
- True Mobility Solutions
- Coach's Corner: Financial Savvy: Make It a Priority
Coach’s Corner: Financial Savvy: Make It a Priority
By Ed Poll, Esq.
Principal, LawBiz® Management
We should aspire to be more than average—perhaps in everything, but, in particular, in terms of financial savvy.
Law schools certainly do not devote enough attention to the practical side of being a lawyer. It’s fine—wonderful, in fact—to graduate students with knowledge of the particulars of law. However, it’s not so fine—the opposite of wonderful, in fact—if those same students become exceptional lawyers but can’t manage to make a living because they don’t know how to run a business.
A report issued by the Organization for Economic Cooperation and Development (OECD), noted a recent Associated Press (AP) story, found that American teens scored smack-dab in the middle of a group of countries in a test of money management. Out of the eighteen countries, the United States ranked ninth, with a below-average score. Shanghai, China, teens topped the chart with their financial intelligence.