We use a simple and effective
four-step approach to analyze
and improve your law firm’s profitability.
We conduct a financial review to determine if your firm will benefit from a profitability improvement plan. We compare your current financial results to benchmarks and key performance indicators to determine your potential financial gain.
Based on these results, you would then determine if you wish to proceed. There is no charge for this review.
Preparation of your Profit Plan
In a systematic way and working with the unique aspects of the firm as well as each individual’s personal practice, we prepare a profit plan for the current or coming fiscal period. This step includes a focused review of past results and input from all Partners, Associates and Staff. The financial plan sets targets for time capture, work in progress, billings and collections.
Clients invariably are pleased with how their profit plan improves profit by strengthening various aspects of individual practice management. As an integral part of this process, we will show you how to modify your habits to achieve these goals.
Making it Happen
Once the plan is in place, we offer consistent hands on assistance and a management system to “Make It Happen!” Many financial and strategic initiatives fail because they lack this type of an action plan. We also train clients who wish to operate the system independently in the future. This process includes regular meetings with firm members to review and report on results, as well as to focus on areas that require improvement.
Most of our engagements last for a minimal 12 month period to ensure that habits and systems are firmly instilled. We take a personal vested interest in your success.
Some clients wish to retain our services on a continuing basis after profitability has been improved. In those cases we continue to coordinate the preparation of the annual profit and financial plan. As part of this ongoing support, we also offer our expertise in all areas of law firm management including; accounting, technology, marketing, human resources, profit sharing and strategic planning.
This type of continued assistance leaves our clients free to concentrate on their clients without losing the profitability focus.
As witnessed by numerous testimonials, our process is consistently successful in terms of its ability to increase profit and cash flow. Clients also greatly appreciate the improved atmosphere our approach brings to an organization.