LFM
Showing 225–240 of 256 results
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Don’t just build a Web site, optimize it
Fall 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 419
Abstract: Attracting prospective clients to a law firm’s site takes a well-strategized and -executed marketing plan. Central to that plan is search engine optimization (SEO) — which means maximizing the firm’s ranking among Internet search engines so that its site appears among the top search results. This short article offers tips on how to do just that.
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E-billing benefits law firms, too
Fall 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 529
Abstract: In-house legal departments typically prefer electronic bills to paper statements because they save companies considerable time and money. Despite some technology and training costs, e-billing can benefit law firms as well. But many are still dragging their feet making the transition, or if they have an e-billing system they’re reluctant to use it. There are, of course, some drawbacks to e-billing, but it offers faster payment, reduced errors, improved marketing opportunities, and a positive environmental impact. And, more and more clients are demanding it. Eventually, almost all firms will be expected to bill clients electronically.
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To merge or not to merge? Good question!
Fall 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 846
Abstract: Mergers often help firms realize their strategic objectives. However, if not done for the right reasons, they can be a source of frustration and lead to a firm’s demise. This article looks at some of the right reasons — and some of the wrong ones, as well. It lists several ways to minimize the pitfalls, while a sidebar describes seven would-be deal breakers.
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Why you must address partner compensation challenges
Fall 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 793
Abstract: In this recessionary environment, many firms are finding that their pie has stopped growing or even has shrunk — and that partner compensation has become a contentious issue that perhaps even threatens the firm’s viability. A firm isn’t safe just because its compensation plan is merit-based. Many firms that have a merit-based plan on paper don’t have one in practice. So top performers may be more tempted to jump ship, while less revenue, more layoffs, and tight credit further challenge plan viability. There are a number of specific steps a law firm can take to answer these challenges — but such steps must be effective over the long term.
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5 low-cost ways to market your practice
Summer 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 408
Abstract: In a weak economy, marketing is more important than ever. But your law firm also may be concerned about spending in this area. This brief article reviews five low-cost — but effective — ways to market your firm.
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Revisit economic drivers to enhance profitability
Summer 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 674
Abstract: Despite the potential for growth in countercyclical practices such as bankruptcy, the recession is having a negative impact on demand for legal services. It’s also handcuffing most firms from making up for lost business by raising rates. So just maintaining profitability, let alone increasing it, is a struggle this year. In fact, in their January 2009 Client Advisory, Hildebrandt and Citi Private Bank projected very modest law firm revenue growth of only around 3% for 2009, with some firms likely experiencing flat or even declining growth. This is a rather bleak picture, but the good news is that your firm likely has ample opportunities to enhance its profitability. You simply need to revisit your economic drivers. This article discusses expenses, leverage, utilization and realization.
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Determining how much capital your firm needs
Summer 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 557
Abstract: Does your law firm have a sufficient amount of working capital to cover its immediate capital needs and its long-term goals? Capital needs include not only costs advanced and the average amount of a firm’s write-offs and write-downs, but also a cushion for the usual expenses and partner draws during billing and collection cycles. So how do you know how much is enough? This article looks at factors that can help you determine how much capital your firm needs.
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Clear and concise fee agreements can minimize billing disputes
Summer 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 708
Abstract: Fee agreements are just as important for business reasons as they are for legal reasons. Clear and concise agreements can minimize billing disputes with cost-conscious clients and increase the likelihood your firm will get paid in a timely manner. This article explains the importance of defining the matter and services being handled, your billing process and more.
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Podcasting – Tune into a new marketing tool
Spring 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 391
Abstract: Imagine having a radio show that enables you to share your legal knowledge with hundreds of listeners but without high production costs and complicated equipment — that’s what podcasting is like. When done right, podcasting can showcase your firm’s vision, values, culture and other attributes to keep you connected with existing clients while also increasing your ability to reach a wider market and recruit new associates. To ensure you’re sending the right signal, look over this brief article for effective strategies you can implement.
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In a down economy, think long term
Spring 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 604
Abstract: As law firms deal with the impact of the economic downturn, a natural reaction may be to hunker down and wait out the financial storm. But it’s during adverse economic times that firms have the opportunity to take stock and strengthen their internal functions. This article offers strategies you can use to make the best of a difficult situation and put your firm in a strong position when things improve.
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How to reduce write-downs and boost collections
Spring 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 983
Abstract: Want to improve your firm’s cash flow and net profit? Who doesn’t? Start by getting control of write-downs that occur during the billing process and implementing effective collection practices today. This article explores tactics, such as implementing billing control procedures, requiring an explanation of all fee write-offs, ramping up collection efforts and more.
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Strategic planning: A must-do for law firms
Spring 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 992
Abstract: Strategic planning has evolved significantly from a trendy buzzword in the early 1980s to a must-do process that helps firms prepare for long-term goals and increase profitability. But many law firms don’t have a strategic plan. Why? Some consider the planning process to be too time-consuming and distracting from work that’s perceived as more important, such as business development and client relations. Others view the process as immeasurable, and therefore futile. Still other firms may not get the necessary support from partners and other leadership, which can doom the process from the outset. This article reviews the many benefits to strategic planning that shouldn’t be overlooked and explains how to make the process less difficult than it may sound.
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Is financial danger ahead for your firm?
Winter 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 316
Abstract: Like the rest of the business world, the legal industry is feeling the pinch of the credit crunch and tight economy. Is your firm like others that are struggling with lagging profitability? This brief article reviews how to assess your firm’s health to determine if serious financial trouble is ahead.
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Game on – Tracking trends affecting your clients helps keep them — and you — on top
Winter 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 680
Abstract: As the legal industry becomes increasingly competitive, it’s not enough to stay on top of your game. You must help your clients do the same by researching and tracking issues and trends that affect their businesses. Ensuring your clients dodge potential threats and maximize opportunities within their industries will help you score big points with them and set you apart from the competition. This article outlines steps your firm can take, including online resources to review, to help clients in this area.
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Don’t let partners’ relationships retire with them
Winter 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 1003
Abstract: Partners build valuable relationships during the course of their careers — relationships with clients, businesses, community organizations and many other influential contacts. But when a partner retires, those relationships often retire with him or her and are forever lost to the firm. Fortunately, this doesn’t have to be the case. This article explains how, with some planning and cooperation from the departing lawyer, you can maintain vital clients, contacts and resources after a partner leaves.
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Thanks, but no thanks – Signs you may want to decline a prospective client
Winter 2009
Newsletter: Law Firm Management
Price: $225.00, Subscriber Price: $157.50
Word count: 965
Abstract: During tough economic times, no firm wants to turn away new clients or business. But the fact is: It’s never a good time to relax your client-screening process and standards. Having an effective intake process enables you to assess potential clients from a strategic, operational and risk standpoint, helping you to head off “bad business.” This article looks at reasons to say “no” to a prospect.