Law Office Manager

Increasing profits

How one California law firm regained its corporate culture and improved business

How do you grow your firm and still maintain a close-knit team? Jason Pink, Administrator of Gianelli & Associates in Modesto, California, tells how their firm handled it. We're a small, but busy, 9-attorney law firm. When we outgrew the 6,500 square foot building we were in, we added an annex at the next door building. We moved three attorneys and a few staff over there. … [Read more...] about How one California law firm regained its corporate culture and improved business

5 tactics to try at the next trade show to bring in new business

It's inexpensive. It hits the exact market the firm wants to target. And it provides face-to-face contact with potential clients.  It's the trade show exhibit. It's a small investment with a good return says Linda Bishop of Thought Transformation, an Atlanta sales and marketing firm. As a trade show exhibitor, an attorney can reach several hundred people who have direct … [Read more...] about 5 tactics to try at the next trade show to bring in new business

To see better profits, look harder at where money starts and ends

Profit doesn't happen without a prod. Particularly in a tight financial environment, a firm has to know where its money is coming in and going out. It also "has to be nimble and on top of what's going on," because the supply, the demand, and the acceptable price of legal work is constantly changing, says Bob Henderson, of RJH Consulting, a business consulting group for small … [Read more...] about To see better profits, look harder at where money starts and ends

6 proven strategies to make the most of revenues to build profits

Improving the billing turnaround time, increasing the number of attorneys, cutting the expenses: All help the bottom line, but there are higher level issues that require as much or more of the financial attention. The firm's success calls for going past counting the money to evaluating the data, optimising the profit margin, keeping the billing rates up, and getting rid of … [Read more...] about 6 proven strategies to make the most of revenues to build profits

Paying too much office rent? Try these 7 rent-cutters

Can the partners live with less space? After payroll, office space is the firm's second highest expense, in most cases eating up from 7% to 10% of the revenues. With the bite that big, every office needs to look for ways to cut the office cost. Here are some good ways to do just that. And along with them are some lease negotiation factors the firm can use. 1 The same … [Read more...] about Paying too much office rent? Try these 7 rent-cutters

9 ways your firm can avoid the downward spiral of debt

By Elizabeth M. Miller  bio When it comes to debt, I believe that less is more. And it makes me shake my head when I hear about firms going into debt to finance their service business. Borrowing money to finance a law practice is opening the door to unending debt that will self-perpetuate as the borrowing and re-paying continues endlessly. There are always cash flow problems, … [Read more...] about 9 ways your firm can avoid the downward spiral of debt

Lessons from the new-model law firm: how to cut costs, increase revenue and improve profits

Traditional law firms face considerable competition today, particularly from new-model law firms that operate and structure themselves in very different ways, according to Ron Friedmann, an expert in law practice management and partner at Fireman & Company in the Washington, DC area. Many clients are moving work in-house to save money, says Friedmann, who notes that the … [Read more...] about Lessons from the new-model law firm: how to cut costs, increase revenue and improve profits

What’s overshadowing your partnerʼs big revenues?

Any firm can lose money to the very partners who are bringing in the most of it. That's because firms measure partner profitability by revenues only, and that doesn't show the full financial picture, says practice management consultant Andra Watkins of Positus Consulting in Charleston, SC. There's also a subjective side to evaluating each partner's contribution. And that … [Read more...] about What’s overshadowing your partnerʼs big revenues?

3 proven ways to build a more profitable client base

It's always a good idea for any business to revisit its business plan, making sure it's on track with its vision and meeting the needs of its target customers. Usually this review involves asking itself the three big strategic questions: Where is the practice now? Where do we want it to go? How will we get there? But sometimes it's not always easy to clearly identify where … [Read more...] about 3 proven ways to build a more profitable client base