Are Law Firms Valuable Businesses?
Well managed, profitable, organised businesses with repeat customers are worth real money. Why not law firms? We now have a large, successful, publicly owned law firm with a rising share price….
Continue readingBenchmarking – Focus where it Matters
From the early 2000’s a number of performance trends have gathered strength in the legal profession. Benchmarking data from the FMRC Legal Business Monitor (www.legalbenchmarking.com.au) shows a continuation of performance…
Continue readingCost of Production
Price is critical to profit. Price determines your client mix. Price determines how hard you have to work. Price is a critical part of your marketing strategy. Many aspects of…
Continue reading6 Strategic Opportunities
1. Life balance versus performance ethic Chargeable hours worked by employed solicitors are declining as salary expectation continues to rise. Employees are not prepared to work the long, arduous hours…
Continue readingProfit Improvement for Small Law Firms
Financial performance in the legal profession is best described as patchy. Some firms are doing exceedingly well, others are muddling along and a lot are struggling. Whilst the more financially successful…
Continue readingA Year of Practice Management
Law firms usually don’t mirror the economy. More often than not they lag behind it, slowing down some time after economic slowdown and growing some time after economic escalation. The…
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