Law Firm Management
Showing 161–176 of 256 results
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Cutting costs – Get real about your real estate needs
Fall 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 406
Abstract: Next to salaries, real estate typically is the largest expense item on a law firm’s income statement, making it a critical target for cost reduction efforts. This article examines how savings come not only from having smaller offices, but also from standardizing offices and adopting telecommuting options.
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How to make part-time partnership a viable option
Fall 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 529
Abstract: To keep productive partners and reduce high turnover costs, firms need to offer lawyers options that allow them to enjoy a better work/life balance. One such option is a part-time partnership track. But, as this article argues, it’s essential that management fully embrace the concept and formalize the terms and responsibilities.
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Paralegals may hold the key to profitability
Fall 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 682
Abstract: Although the roles and responsibilities of paralegals (or legal assistants) can differ widely by firm, these employees ideally spend minimal time performing clerical or other administrative work. By the same token, firms must be careful not to give their paralegals work that should be handled by lawyers. This article explains how to get this balance right.
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Putting a price on your firm – How professional valuators appraise law practices
Fall 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 881
Abstract: Many situations can trigger the need for a law firm’s appraisal — including insurance coverage, a partner’s divorce, capital buy-ins of new partners, firm dissolution and mergers. There are specific ways that law firms create — or diminish — value. This article discusses some of these “value drivers” and how the three most common business valuation methods are applied. But, as a sidebar notes in regard to one divorce case, valuators often disagree about the same professional practice interest.
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5 ideas for cutting overhead costs
Summer 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 434
Abstract: This article offers five opportunities to cut overhead and improve profitability: renegotiating the office lease, outsourcing services, buying smarter, reviewing employee benefits and making the most of technology.
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Carving out and marketing your firm’s niche
Summer 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 664
Abstract: A crowded legal services marketplace means that firms must seek creative ways to stand out — and one of the best strategies is to corner a niche. Generally speaking a legal niche is a concentrated, well-defined segment of businesses or people with the same behaviors, wants or needs. This article looks at how to determine a niche and get the word out.
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What you need to know about professional liability insurance
Summer 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 834
Abstract: Practicing law without professional liability insurance can be financial suicide. But attorneys have options when it comes to the amount and type of liability coverage; even the price may be flexible. This article discusses the basics of malpractice policies and how insurers set rates, while a sidebar offers advice for avoiding malpractice claims altogether.
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Two-track mind – Lawyers and firms alike benefit from multiple partnership models
Summer 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 625
Abstract: Firms that hire and retain only partnership-track associates may be turning away profitable legal talent. Many skilled lawyers don’t want the long hours and heavy responsibilities of equity partnership — and, for those who do, the organizational structure that once supported this goal has become less viable in the 21st century. This article explains why a two-tier system — of equity and nonequity partners — may be the solution.
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Legal seminars: Turning attendees into clients
Spring 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 313
Abstract: Seminars and speaking engagements offer lawyers some of the best opportunities to engage large audiences and develop new business. But such opportunities are all too easy to squander. No matter what the topic, preparation and follow-through are critical. This article offers suggestions to help attorneys make the most of these engagements.
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Will higher rates test your clients’ loyalty?
Spring 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 614
Abstract: Firms that have been putting off fee structure changes until the economy is once again thriving may want to reconsider. Various studies have shown that clients are willing to pay higher rates for proven quality, even in challenging environments. This article explains how to raise rates appropriately without alienating clients.
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Don’t let a partner defection damage — or destroy — your firm
Spring 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 603
Abstract: In recent years, partner defections have contributed to the demise of several established firms. But such disasters usually are preventable. Even if a firm can’t hold on to every partner, this article explains how a strong partnership agreement that takes pending matters into account can make it possible to minimize the financial damage caused by defections. A sidebar notes a few of the strategies one prestigious law firm uses to retain partners.
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10 common law-firm mistakes – How many are you making?
Spring 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 912
Abstract: Seemingly benign management errors or neglect can have disproportionately negative effects on a law firm’s bottom line. This article lists 10 of the most common errors and offers suggestions for avoiding them. They involve, among other things, poor financial recordkeeping, little or no business development or strategic planning, and inequitable compensation.
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How to keep your partnership accountable and collegial
Winter 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 370
Abstract: To achieve growth and profitability goals, law firms need to manage themselves like businesses. This means holding partners accountable for the firm’s success. Unfortunately, accountability sometimes interferes with the personal friendships and working relationships between partners. But collegiality doesn’t necessarily have to fall victim to accountability. This article offers five guidelines that can help a firm maintain this delicate balance.
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Marketing like a big firm … on a small firm budget
Winter 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 756
Abstract: Although they may feel overwhelmed by larger firms’ resources, small firms with tiny budgets can market themselves effectively and build their clientele. They just need to look for low-cost — and even free — marketing methods and tools. This article talks about cultivating personal relationships, establishing a brand “identity,” taking advantage of the Web and targeting spending strategically.
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Management reports — The next best thing to a crystal ball
Winter 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 710
Abstract: Managing partners have a difficult job: They must keep abreast of daily operations and forecast how the present is likely to affect their firm’s future. But management reports can help head off minor issues before they become major crises. This article describes four types of management reports and how they can help firm leaders keep an eye on troubling trends such as sluggish collections, low-billing attorneys and runaway expenses.
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Are you quoting your firm out of business? — Balance profitability with client demands
Winter 2013
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 906
Abstract: In today’s highly competitive legal market, some firms price engagements dangerously low simply to get clients in the door. Because the majority of firms can’t afford even one unprofitable year, they may be pricing themselves out of business. This article explains how firms can group engagements according to the level of experience, expertise and time needed to complete them, so that they can quote clients with confidence. A sidebar discusses what matters to clients besides cost.