Over the weekend, Alt Legal founder and CEO Nehal Madhani spoke on a panel at the Asian-American Bar Association of New York's fall conference.
The panel, titled "Finding the Entrepreneurial Spirit," focused on entrepreneurialism in the legal industry. Nehal and his co-panelists, Ashish Walia (Co-Founder of LawTrades) and Mirra Levitt (Co-Founder of Priori Legal), discussed their professional journeys from attorneys to entrepreneurs and how attorneys can be more entrepreneurially minded, particularly in their billing models and client interactions.
One piece of advice Nehal offered was for attorneys to reconsider their billing structures, both to ensure a steady income stream and to better meet the needs of entrepreneurs. "Attorneys should seriously consider adding a subscription-based billing model to their practice. Recurring revenue can stabilize their practice without the need to go hunting for new revenue each month,” he explained.
Nehal loved helping attorneys gain a clearer sense of how to better align themselves with—and meet the needs of—entrepreneurial clients.