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 […]
Pricing of Services: A Methodological Approach for Intellectual Property Practices
“Many professional services firms put more creativity, mind power and time into a brochure or an advertisement than thinking about pricing policies. This is a serious mistake, [as]pricing is how the firm captures the value it provides to the market place.”Ronald Baker, Professional’s Guide to Value Pricing, 2001 The price, together with the client’s service […]