Financial Management >> Profitability, Leverage & Related Topics
Profitability, Leverage & Related Topics
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The Marcus Letter. Anticipating Future Shock: Changing The Billing Structure And Enhancing Per-Partner Value. At least two steps can be taken now to make firms more competitive, efficient and profitable – reintroducing value added billing to ultimately
Sullivan, Paul J. Calculating overhead-per-attorney is not a simple task; merely dividing the firm’s total expenses by the number of attorneys won’t provide an accurate number. The perfect method would be to break down every expenditure and allocate it to
Wesemann, Ed. A big problem in the pricing of legal services is “sticker shock.” This occurs when a client is confronted with the reality of what legal services cost. Open conversations about pricing may lose a few marginal clients, but can help avoid st
Clay, Thomas S. Thriving involves pursuing business practices with fervor, refocusing on clients, selectively increasing prices and concentrating practices for profitability -- resulting in better competing, more profitability and happier clients.
Wilber, James. More and more, paralegals are playing a prominent role in the delivery of legal services. As law firms increasingly rely on them, it is more important than ever to understand the drivers of paralegal profitability and whether your paraleg
Bower, Ward. Billing for legal services is an art, and pricing a science. Examine pricing policies in terms of economics (rate formula), legal market price positioning, strategic alignment with firm goals, client willingness and ability to pay, and...
The Marcus Letter. The Price of Everything; the Value of Nothing: Value As A Fee Policy. Billing is an art form. When the market - the client - determines the fee structure, fees are both a competitive and a marketing tool. What is the value of a par
Wesemann, Ed. How does a law firm's partnership judge the firm's financial performance? Here is a way to review the firm's long term success.