The recent recession and increasing levels of competition, both between forms and professionals has left many firms struggling to make profits. This book sets out a simple model for understanding and then maximizing the profitability of law firms. It addresses issues such as correct staff structures, realistic targets for chargeable time, increasing fee income levels and the improvement of cash flow. Having rationalized performance, the book then provides practical guidance to partners and fee earners on how to get the best out of the staff who create the profits. It is aimed at all partners, aspiring partners and anyone entering the legal profession who realizes the importance of developing business as well as legal skills.
The starting point - solicitors' accounts; the keys to profitability and rules of thumb; business plans - development; involvement and understanding; the mechanics of profitability; working capital control; investment appraisal; management reporting; the development of personal and management skills; the role of client care in profitability; tax planning - keeping the profits.
Number Of Pages: 142
Published: 1st November 2001
Publisher: Oxford University Press
Country of Publication: GB
Dimensions (cm): 22.1 x 15.1
Weight (kg): 0.3