Need a better bottom line? Don't go the way of most firms and start "stripping the heck out of the operating costs." The real dollars come from increasing revenue. And doing that is often more common sense than magic, says financial consultant Michael R. Marget, managing director of 4L Law Firm Services in Tampa. Get under the payment wire The first and easiest way to … [Read more...] about Some not-so-difficult ways to increase revenue
Working with lawyers
How to turn a bad annual review into a self-improvement action plan
We're all human. Anyone can get into situations that are less than successful. And anyone can meet with a bad job review. But the ship can be turned around, says Theresa Rose, a professional development consultant and speaker. It takes a positive response to the partners, a positive emotional attitude, and an ongoing effort to improve in the areas that matter to the … [Read more...] about How to turn a bad annual review into a self-improvement action plan
Secrecy in the age of social media: six ways to keep sensitive practice information offline
You can be sure that most of your employees are active on social media. For younger ones, in fact, using Facebook, Instagram, and Twitter are as natural as breathing. According to James Pooley, author of "Secrets: Managing Information Assets in the Age of Cyberespionage," social media and the sharing culture it has sparked are very real threats to organizations. "The … [Read more...] about Secrecy in the age of social media: six ways to keep sensitive practice information offline
Use weekly financial reporting to keep partners aware of cash flow
A Vermont manager has found that running the financial reports weekly instead of monthly is an easy way for the partners to stay always aware and in control of what's going on. They see every penny that has come in and gone out. They know how each attorney and each practice area is faring. And they know when to expect extra expenses and what the taxes are likely to be. The … [Read more...] about Use weekly financial reporting to keep partners aware of cash flow
3 steps a manager must take to end harmful gossip in the workplace
By Lynne Curry bio The conversation stops when you walk into the break room. Two employees look at each other, mouth "later," and head back to their desks. An hour later, you see another employee dart into the restroom and come out five minutes later with reddened eyes. You ask her "what's up?" and when she looks like she might burst into tears, you usher her into your … [Read more...] about 3 steps a manager must take to end harmful gossip in the workplace
To-Dos: Your April office checklist
Here are a few tasks that should be addressed this month. Do a first quarter evaluation with employees who have a billing quota. Assess where they are in terms of reaching the annual goal and discuss any changes that need to be made, adjustments in procedures for capturing time or time management skills. Review the firm's profit and loss statement as it compares to the … [Read more...] about To-Dos: Your April office checklist
Marketing your practice: How to attract more clients by positioning your attorneys as “thought leaders”
The attorneys in your practice are more than knowledgeable; they are thought leaders in the legal field. So why not share their expertise, and market the practice in the process? Seeking information People actively seek legal information. Indeed, legal websites are highly popular, books offering legal advice sell well, and television shows like "Law & Order" have found new … [Read more...] about Marketing your practice: How to attract more clients by positioning your attorneys as “thought leaders”
For personal success, get beyond the words and metacommunicate
Meta means beyond. And though it has varying definitions, in its simplest form, metacommunication means going beyond regular communication to get the full point across. It means making sure everything—spoken or unspoken—gets communicated to, and from, both sides. Most employment situations are rife with unspoken expectations and assumptions, says Barbara Kay, LPC, RCC, a … [Read more...] about For personal success, get beyond the words and metacommunicate
7 quick ways to jump-start your firm’s business development efforts
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
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