Law Firm Management

Showing 177–192 of 252 results

  • Simple calculations can have broad implications

    Summer 2012
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 365

    Abstract: Law firms use financial metrics to measure profitability and to make compensation and promotion decisions. But not every metric will be effective for every firm. It’s important to let strategic objectives and values guide firms in their choice of measurements. This short article looks at a few popular metrics.

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  • Billing fraud hotbeds: Is your firm one of them?

    Summer 2012
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 771

    Abstract: Unethical billing practices — from padding time records to exaggerating expenses to performing unnecessary work so that it can be billed to a client — rarely occur in a vacuum. Billing fraud thrives in firms that explicitly or tacitly condone it. This article identifies red flags for billing partners and administrators and examines broader cultural issues that might be contributing to billing fraud.

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  • Envision your firm’s future with a strategic plan

    Summer 2012
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 672

    Abstract: As this article discusses, strategic plans enable law firms to focus on their ability to get more and better work from paying clients; pinpoint opportunities within the market; identify potential obstacles to growth; and decide what internal changes are necessary so that the firm can adapt to a constantly evolving legal market. Some of the planning tools available to firms undertaking strategic planning are covered.

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  • The problem that won’t go away — How to handle an underperforming partner

    Summer 2012
    Newsletter: Law Firm Management

    Price: $225.00, Subscriber Price: $157.50

    Word count: 831

    Abstract: It’s the challenge no managing partner or practice group leader wants to tackle: the once-productive partner whose performance has declined — in some cases, dramatically. But firms ignore underperformers at their peril. This article discusses what constitutes underperformance, how to quantify its effect on the firm, and how to develop a performance management plan for partners who are willing and able to change. A sidebar addresses terminating a partner gracefully.

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  • 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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