By David H. Freeman bio Every so often, you may think, "I could use some fresh ideas to jump-start the firm's business development efforts." Or perhaps the managing partner is looking to you for some input on how to grow the business. I have some resources that can help. Over the years, I've produced very short business development tips designed to trigger new … [Read more...] about 7 quick ways to jump-start your firm’s business development efforts
Increasing profits
To-Dos: Your February office checklist
February might be a short month, but there's a lot packed into it. Here are 7 areas you can tackle this month to help improve profits, protect the firm, and boost morale. 1. Review each department's revenues. By now the profit and loss statement for 2022 is in. Review the gross revenues of the firm and the revenues for each department if the firm practices in more than … [Read more...] about To-Dos: Your February office checklist
Do these 5 tasks now and get ahead of your tax preparations
By Elizabeth M. Miller bio The holidays are over and it's time to get back to work—and reality. And the reality is that tax season is just around the corner. Ideally, you were attentive to your accounting and recordkeeping last year so you're ready to just hand over your records and reports to the accountant and—voila—your tax return is ready. But the reality … [Read more...] about Do these 5 tasks now and get ahead of your tax preparations
To-Dos: Your January checklist
Make a fresh start this year with a focused team, a financial plan, organized files, and a decluttered computer. Here are some tasks you can accomplish this month to help keep your office running smoothly and profitably throughout the year. 1. Help staff set and achieve goals. Addressing staff issues in January gets people charged up for the year and gives you a roadmap for … [Read more...] about To-Dos: Your January checklist
TO-DOs: Your December office checklist
Congratulations on making it through 2022! We hope it was a successful and satisfying year for you and your firm and that you take some time this month to celebrate your accomplishments. Of course, the work never stops, so here are some reminders for this month. Start thinking about the firm's taxes. Are there any bills you can pay this year to offset any unexpected income … [Read more...] about TO-DOs: Your December office checklist
7 steps you can take now to improve next year’s bottom line
Year-end is a great time to evaluate the firm's finances and make a plan to improve next year's bottom line. Even if the year went well, there are always improvements to be made and areas that can be trimmed without impacting employees or the service they provide to clients. Here are 7 steps you can take now to improve next year's bottom line. 1. Evaluate your advertising … [Read more...] about 7 steps you can take now to improve next year’s bottom line
Boost quarterly profits with this proven 6-pronged cost cutting plan
Every now and then, office administrators are forced to look for new ways to cut expenses. There are lots of dollars waiting to be saved, but many of them are in places so conspicuous they get overlooked. Go for the obvious. To save the firm money, begin with increasing staff productivity and continue on to reclaiming lost office supplies and capping what the firm pays for … [Read more...] about Boost quarterly profits with this proven 6-pronged cost cutting plan
TO-DOs: Your November office checklist
There's a lot happening this month—everything from Thanksgiving to budget preparations. Here are a few things you should address this month. Make your reservations. If you are planning a holiday party and haven't yet booked a venue, don't wait any longer. Certain restaurants get booked up quickly, especially if your firm wants to do a holiday luncheon instead of a dinner. … [Read more...] about TO-DOs: Your November office checklist
Haven’t prepared your 2023 budget yet? These 3 steps will help you get it done
By Elizabeth M. Miller bio No one likes to prepare a budget. Looking ahead a year and seeing what it's going to cost to run your law firm can sometimes be overwhelming, especially when you know that it's up to you to make sure the firm generates the revenues to cover the budget. And with so many year-end things on your plate, strategizing for next year is probably the last … [Read more...] about Haven’t prepared your 2023 budget yet? These 3 steps will help you get it done
Establishing an effective pricing policy in your law firm
As law firms evolve, tracking key metrics and producing top-tier results are absolutely necessary, and new methodologies and thought processes have begun to play key roles in rationalizing, monitoring, controlling and setting strategic pricing. This information can change the profitability structure of your law firm, says Brenda Barnes, certified public accountant (CPA) and … [Read more...] about Establishing an effective pricing policy in your law firm