Client Value And Law Firm Profitability
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Client Value And Law Firm Profitability
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Author : Jim Hassett Ph. D.
language : en
Publisher: Legalbizdev
Release Date : 2014-09-01
Client Value And Law Firm Profitability written by Jim Hassett Ph. D. and has been published by Legalbizdev this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-09-01 with Law categories.
The primary goal of this book is to help law firms adapt to a rapidly changing marketplace by providing insights into what has worked at other firms and what hasn't. Many articles and books have been written by law school and business school professors and by countless consultants analyzing how the legal profession is changing. The only thing that's been missing from the conversation is public statements by the people who actually run large law firms. These senior decision makers rarely publish anything on their tactics and strategies. They are the ones who deal with these issues every day and whose very livelihood depends on coming up with the right answers. What do they think? To answer this question, LegalBizDev founder Jim Hassett interviewed leaders from 50 AmLaw 200 firms in 2013 and 2014. This is the only research on the topic which is based on confidential in-depth interviews with chairs, managing partners, senior partners, and firm executives such as CEOs, COOs, and CFOs. The name of every individual who participated in the research is confidential and all quotes are anonymous. This approach has enabled senior decision makers to speak frankly and openly about what they really think. Since the participants in the study were promised that they would not be quoted by name, they were unusually frank in their responses, including the law firm chairman who said that "lawyers are about as dumb as you could possibly be about understanding how our product is made. The lawyers who understand how to make it and who can manage that process efficiently are going to be the winners." The law firm leaders also felt free to speak about both the business problems they face and possible solutions, like the managing partner who noted that "I have a $10 million practice. But that could be a disaster for a firm, because it could cost them $11 million to get $10 million. But nobody ever talks about it that way." According to Altman Weil Principal Tom Clay, "Although Jim's interviews were with 50 large law firm leaders, his commentary and takeaways should be taken to heart by every law firm, whatever its size."
Mechanics Of Law Firm Profitability
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Author : Toby Brown
language : en
Publisher:
Release Date : 2016-11
Mechanics Of Law Firm Profitability written by Toby Brown and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-11 with Law categories.
The Mechanics of Law Firm Profitability: People, Process, and Technology examines why a focus on profitability and metrics is reshaping law firm operations and matter management.
Results Oriented Financial Management
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Author : John G. Iezzi
language : en
Publisher: American Bar Association
Release Date : 2003
Results Oriented Financial Management written by John G. Iezzi and has been published by American Bar Association this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003 with Business & Economics categories.
This hands-on, how-to book will provide law firms with budget and financial knowledge they need to make critical financial decisions.
The Lawyer S Guide To Increasing Revenue
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Author : Arthur G. Greene
language : en
Publisher: American Bar Association
Release Date : 2005
The Lawyer S Guide To Increasing Revenue written by Arthur G. Greene and has been published by American Bar Association this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 with Business & Economics categories.
"Are you ready to look beyond cost-cutting and toward new revenue opportunities? Learn how you can achieve growth using the resources you already have at your firm. Discover the factors that affect your law firm's revenue production, how to evaluate them, and how to take specific action steps designed to increase your returns. You'll learn how to best improve performance and profitability in each of the key aspects of your law firm."--BOOK JACKET.
Emerging Approaches To Law Firm Profitability
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Author : Stuart J. T. Dodds
language : en
Publisher:
Release Date : 2018-05
Emerging Approaches To Law Firm Profitability written by Stuart J. T. Dodds and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-05 with Law categories.
Emerging Approaches to Law Firm Profitability is the ideal tool to assist with the implementation of innovative business practices, providing essential guidance for those seeking new means of maximizing their firm's capacit
Targeting Profitability
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Author : Helen Roche
language : en
Publisher: Exhibit A
Release Date : 2013
Targeting Profitability written by Helen Roche and has been published by Exhibit A this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business planning categories.
Law firms today are undergoing a period of continued change and competition. Law firm leaders are faced with increased pressure to raise revenues despite growing competition and changing client demands. The slow pace of growth in the global economy has had an impact on law firms, and many continue to fight to remain profitable in the wake of the economic downturn. Additional factors, such as changing regulation in the UK which has opened up the legal industry to new entrants, and the focus on alternative fee arrangements and new pricing methods in both the UK and the US, can further the demands on law firms to compete and grow. As a result, law firm leaders are under pressure to find new and better ways to increase productivity and profitability. Targeting Profitability: Strategies to Improve Law Firm Performance is an expert guide on profitability strategies for law firms. This report brings together the views of respected experts on law firm profitability from both the UK and the US, and it outlines specific areas within a firm that can be targeted to introduce improvements, adapt processes and training, and as a result increase profitability. These experts share their views on what impacts profitability within a firm, and they provide advice and tips on what can be done to make improvements. A law firm's overall objective should be to meet changing client and market needs in a manner that is profitable, and this report sets out important steps law firm leaders can take in order to meet those objectives.
Identifying Profits Or Losses In The Law Firm
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Author : Robert J. Arndt
language : en
Publisher:
Release Date : 1988
Identifying Profits Or Losses In The Law Firm written by Robert J. Arndt and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with Cost accounting categories.
Profitability In Law Firms
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Author : Toby Brown
language : en
Publisher:
Release Date : 2024-01-31
Profitability In Law Firms written by Toby Brown and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-01-31 with categories.
Insight and Analysis provides practical and proven strategies for law firm leaders and managers who want to take their firms to the next level of performance and profitability.
Optimizing Practice Management
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Author : Susan Raridon Lambreth
language : en
Publisher: Ark Company
Release Date : 2015-05-06
Optimizing Practice Management written by Susan Raridon Lambreth and has been published by Ark Company this book supported file pdf, txt, epub, kindle and other format this book has been release on 2015-05-06 with Law firms categories.
As law firms have grown larger and client problems have become increasingly complex, effective practice management has become the primary vehicle through which firms seek to deliver value to clients and differentiate themselves in a competitive market. Optimizing Practice Management: Driving Profitability and Market Position is intended to help firm leadership work through all the critical aspects of structuring and implementing an effective and optimized practice management system. The book is divided into five main sections, covering: The business case for practice management; Building the essential foundation; Developing the structure; Keys to successful implementation; and The role of the practice leader. This book will help law firm leaders to: Gain clarity on how to improve their market position and enhance the value perception of their services; Establish the optimal practice management structure to facilitate achievement of the firm's strategy and market position; Focus on particular practice specialties and subspecialties, and on clients or industries, where the firm can establish a sustainable competitive advantage; Define clearly the role of business unit leaders and members; and Align incentives to encourage the level of collaboration that clients are demanding. Detailed appendices contain the results of original research on practice management in the largest US law firms, and sample job descriptions for practice group leaders/members, based on the authors' experiences working with over half of the Am Law 200 law firms.
Maximizing Law Firm Profitability
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Author : Susan G. Manch
language : en
Publisher: Law Journal Press
Release Date : 2018-01-28
Maximizing Law Firm Profitability written by Susan G. Manch and has been published by Law Journal Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-28 with Law categories.
Maximizing Law Firm Profitability: Hiring, Training and Developing Productive Lawyers shows you how to manage your own practice and how to develop the potential of the people reporting to you.