Legal practice management | Law Firm Profit | Small Law Firms Last month we ran a Linked In legal practice management survey asking the principals of small law firms ( in this survey a small law firm as a firm with 4 partners or less) what annual law firm profit they would be satisfied with, on a per principal basis. […]
FREE Webinar – Are You Ready to Grow Your Law Firm in the Easiest and Most Cost Effective Way? Join us for a FREE Live Webinar – March 14 If you run a smaller law firm and are ready to generate more quality fees of the type you want, from clients you like, register for this live webinar. This 30 […]
Legal Marketing to Your Existing Clients If you want to grow your small law firm by legal marketing in an easy and inexpensive way, then I encourage you to read this article that I have just had published in the Canadian ” Profits for Partners” website as a guest blogger. The legal marketing issues really are the same all over […]
Improvements to Law Firm Practice Management The ALPMA have the results of their 2011 annual benchmarking study of Australian law firms available on their website. The link is http://www.alpma.com.au/Research/benchmarking-survey if you would like to download it yourself. Law firm practice management is a key focus in profitability, working capital and overall law firm valuation. Profitability While I concentrate on small law firms, […]
Small Law Firms Show and Ability to Lift Profitability and Revenues There has been a lot of talk about how tough the economy is and various articles posted on law firms decreasing profit. I wanted to post an article to let you know that not all firms are doing it tough. I was just reviewing the results from our most […]
Attract new clients to your small legal practice While your practice may provide a range of services to clients, you probably have a particular type of work that you really enjoy doing. As well, you probably have a particular type of client that you enjoy working with. Imagine if you could develop a process to attract more of the work and […]
Valuation of Law Firm Goodwill in Small Law Firms When selling small law firms or a share of the equity in it, the question arises as to what is the goodwill of the practice worth? Talking with Ian Hyman the CEO of Hymans Valuers and Auctioneers, he indicates that he would normally use the future maintainable earnings of the law […]
Buying a Law Firm – Small Legal Practices Are you one of the many principals of small legal practices who will be looking to sell their practice in the next few years? If you understand what buyers are looking for, then you can make your practice more attractive to those buyers and potentially achieve a quicker and more lucrative result. […]
How You Can Increase Your Fees For Legal Matters One of the easiest ways to substantially lift the profitability of your legal practice is to increase your fees for legal matters you do. Now of course that comment sounds obvious, but with clients increasingly questioning fees in the current tough times how can you do it? The secret to being able to […]
Poor Law Firm Cash Flow – Strategies for Improving Cash flow in Small Legal Practices The results of our 2011 survey of small legal practices listed poor law firm cash flow as the number one concern of principals of practices. Fortunately there are plenty of strategies that you can adopt to quickly improve cash flow in your practice. While it […]
