“Do the Math” to Improve Law Firm Profitability
Calculating client profitability is one of the best ways to assess the financial health of a law practice. A firm that understands the basic economics of their practice has the competitive advantage to make meaningful improvements.
During this information-packed session, we will discuss reliable methods for computing client profitability. We will also review methods for applying profitability data in:
- Partner Compensation;
- Client Pricing;
- Overhead efficiency;
- Lateral Hiring
March 15, 2016 at 11:00am EST
Speaker: Brian Kennel, CEO and Lead Consultant, PerformLaw
Tools of Choice
Lawyers and other professionals – like most creatures on this planet – spend lots of mental energy dealing with choices. We face them ourselves, pose them to others, and participate as advisers and advocates. Choices permeate our organizational and personal lives. They have become more frequent and complex, and can be the focus of prolonged deliberation and debate.
It is notable that we don’t use technology very creatively or aggressively to support an activity as ubiquitous as decision making. This session will review the software tools we use and might use to make better choices.
July 12, 2016 at 11:00am EST
Speaker: Marc Lauritsen, President, Capstone Practice Systems and Legal Systematics
Exit Strategies for the Boomer Generation
The Boomer Generation is retiring. This large and hard-working cohort group controls significant client relationships, has invested the bulk of their firm’s capital and enjoys considerable income. The very best are actively sought by other firms – the lateral market phenomenon. This session provides a primer on considerations for making senior partner transitions work better for all concerned – retiree, successor partners and the client.
The presenter will discuss:
- Client relationships
- Market presence
- Capital and liquidity
- Unfunded obligations
October 11, 2016 at 11:00am EST
Speaker: James Cotterman, Principal, Altman Weil Inc.
In-House vs. Outsourced IT
Approximately 50% of law firms have made the decision to outsource some or all of their IT support. IT infrastructure support is a highly complex weave of network and servers (physical onsite or offsite “cloud”), cyber security, backup/disaster recovery systems, desktops, printers, remote access, personal/work laptops and tablets, and smartphones. These are all separate components, yet fully integrated, so who takes care of what? How much should it really cost to “make it all work?” The LEGUS Coffee Café will help you analyze ways to align your current IT support with today’s “best practices” for responsible IT management, reduce the firm’s bottom line, and minimize employee downtime.
December 6, 2016 at 11:00am EST
Speaker: Jennifer Colwell, Administrator, McGill, Gotsdiner, Workman & Lepp