Managing the Law Firm’s Balance Sheet for Future Profit
Most law firms are run by the numbers: This year’s numbers. Afterall, “At the end of the year, my PPP must be bigger than your PPP.” While this measure is fine for reporting to the legal press, current year profit per partner is a poor management tool. This is because PPP is no indication of […]
In Brief: On Management How Do You Practice Strategy?
Management in law firms often struggle with the implementation of agreed strategies. After an elaborate review that led to a much celebrated declaration of the firm’s future direction, the demands of everyday business on most professionals put the new strategies on the backburner. It is back to business as usual. Arguably the most successful approach […]
How Can You Survive in the Future? The Purpose of Law Firm Management
Anyone involved in law firm management should be able to answer the ultimate question: “What’s the purpose of your job?” During the last ten years, finding the right answer grew more complex as law firms became incredibly busy, mushroomed in size and turned into what some perceived as “factories” or “sweatshops.” Sometime in that hectic […]