Law Firm Management

Showing 145–160 of 216 results

  • Is now the time to rethink associate compensation?

    Spring 2012
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 675

    Abstract: Law firms that still compensate associates the way they always have — using a lockstep model of regular, across-the-board annual pay increases — may be harming profitability and their competitive profile. One alternative is a performance-based system that rewards attainment of specified key competencies. However, if poorly implemented, a performance-based system could squelch associates’ motivation and lead to frustration, resentment and attrition. This article describes three best practices.

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  • Search engine optimization — Boost your firm’s online profile

    Spring 2012
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 660

    Abstract: If a law firm’s website can’t be found through major search engines, it might as well not exist. Search engine optimization (SEO) isn’t necessarily difficult and it doesn’t have to cost a lot of money. But frequently updated content, carefully cultivated links and some knowledge about how search engines find and rank sites are important if a firm is to receive optimal online exposure. This article offers tips for keeping a website current and prominent.

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  • Why firms need strong, current partnership agreements

    Spring 2012
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 557

    Abstract: Any law firm with more than one owner needs a partnership agreement. But to be effective, the agreement should be well written and up-to-date. A sound agreement will address several issues that affect everything from daily operations to unexpected events. This article lists specific items a partnership agreement should cover and discusses why a firm might want to change its partnership structure.

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  • Leadership vs. management: Recognizing the difference

    Spring 2012
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 914

    Abstract: Although the roles of leaders and managers overlap to a degree, they aren’t the same. True leaders are relatively rare. And as law firms try to adapt to a rapidly changing business model and fierce market competition, they need leaders. This article compares the different tasks leaders and managers must perform, and in particular describes what leaders in small firms must do to implement effective strategic plans. A sidebar explains why some firms might prefer to hire a firm administrator to assume managerial duties.

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  • Pulse check: Is your firm in financial trouble?

    Winter 2012
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 480

    Abstract: Financially troubled law firms don’t always realize they’re troubled until it’s too late. By taking a quick pulse check, it’s possible to identify early signs of ill health — while there’s still time to treat them. This article examines what to look for in financial statements and how to spot subtle warning signs.

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  • Keep your eye on costs with a recovery system

    Winter 2012
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 628

    Abstract: A cost-recovery system is an excellent way for law firms to control expenses.  Tracking office expenses through a cost-recovery system helps show firms — and their clients — where the money is going. This article discusses the advantages of cost-recovery software and the importance of keeping it up-to-date.

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  • Eye on associates — How to build better business developers

    Winter 2012
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 719

    Abstract: For most lawyers, effectively selling their firms’ services and their own legal expertise — otherwise known as business development — is essential to a thriving career. Unfortunately, finding clients and maintaining those relationships aren’t skills that come naturally to most attorneys. As this article explains, it’s important to provide associates with networking advice and rainmaking tools. A sidebar offers three tips for making the most of networking and business development opportunities.

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  • Origination blues — Giving partners credit where credit is due

    Winter 2012
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 746

    Abstract: Client origination has long been considered one of a partner’s core responsibilities. But disagreements can arise when one partner claims origination credit for bringing a client through the door, another for growing the client’s account and a third for performing most of the client’s legal work. This article explains that firms need to take up the recognition question as they grow, especially if partners are squabbling — or worse, leaving — because they don’t feel they’re getting the credit they deserve.

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  • How to make outgoing referrals pay off

    Fall 2011
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 438

    Abstract: Most attorneys give little consideration to their outgoing business referrals — and that’s a mistake. Properly managed, outgoing referrals can contribute to a law firm’s bottom line by generating referral fees, reciprocal referrals and satisfied clients. This article talks about how to treat referrals as a critical business development strategy.

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  • Survive an IRS audit

    Fall 2011
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 675

    Abstract: Receiving an audit letter from the IRS may seem ominous. But, as this article explains, by working with their CPA and cooperating fully with the IRS, a law firm can survive an audit. Knowing the types of firms and activities that raise IRS red flags can help law firms minimize their chances of being audited. For those who do receive a notice, the article describes the audit process.

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  • The Y factor: Working effectively with your youngest attorneys

    Fall 2011
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 538

    Abstract: Generation Y, or “Millennials,” are now entering the workforce in full strength. But, while new associates of every generation share certain characteristics, Millennials tend to have different attitudes regarding work ethic, firm loyalty and authority. This article offers tips for making the most of their strengths.

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  • Capital concerns – Ensuring your firm has the financial resources it needs

    Fall 2011
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 781

    Abstract: A successful firm requires both working capital to fund daily operations and long-term capital to buy assets and make strategic investments. Unfortunately, determining a firm’s capital needs and meeting them are two of the most difficult tasks an administrator will face. This article explains how different firms have different capital requirements and ways of determining them. It also discusses sources of funding, while a sidebar explains the dangers of undercapitalization.

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  • Fee agreements: Bill like you mean it

    Summer 2011
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 394

    Abstract: Particularly in hard economic times, companies and individuals prioritize their bills, paying the most urgent invoices and the most insistent service providers first and the rest when they’re able. But a law firm can help make its bills a priority by being clear about expectations. As this article explains, this starts with a comprehensive fee agreement.

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  • Not at my firm! Expense report cheating is both easy and common

    Summer 2011
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 648

    Abstract: Expense report padding may seem like a minor offense. Inflated car mileage or exaggerated restaurant gratuities typically add only a few extra dollars per report. Over time, however, a few dollars can become thousands, and fraud can not only harm a firm’s profitability, but its reputation as well. This article lists common expense-related fraud schemes and the steps that law firms should take to detect and prevent them.

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  • More profit, less loss – Point associates to the bottom line

    Summer 2011
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 660

    Abstract: Although associates’ first priority is legal work, they also need to be aware of their firm’s investment in them. Perhaps the best way to make associates fiscally aware is to have them create individual profit and loss (P&L) statements. This article talks about how P&L statements can determine billable hours and overhead expenses for associates and provides an example of one.

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  • What to expect when you’re merging

    Summer 2011
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 807

    Abstract: Mergers offer the opportunity to gain new clients, experienced rainmakers, greater geographic reach, increased specialization and broader expertise. But first, it’s necessary to close the transaction, which is often easier said than done. This article describes the obstacles that are typically involved, and shows how an internal “deal team” working with professional advisors can address them.

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