Performance

Your firm's profitability depends on principally on the genreation of fees. Operating costs rarely cause trouble. They are predictable and as long as you monitor spending closely you should have no surprises.

Salaries will be your biggest single overhead. Fee earning staff can and should be measured, comparing what they cost the firm with what they bring in in fees. In the following sub-pages under Performance there are some ideas for getting the best out of your business.

And if you are seeing a thread running throughout this website it is this: Your practice is a business. It provides high quality legal services as a means to an end. Depending on your strategy, it is most likely to be to make profits. As soon as you begin to think of your firm as a business rather than as a law practice you are nearly there.

Please forgive me if this is "teaching my grandmother to suck eggs". If you are already using these techniques then I hope you will find plenty of other things on the site of interest, but I am putting them in here because there are still an awful lot of firms that have yet to grasp these things.

IMPORTANT NOTE

All the opinions expressed are those of the contributors, are based on personal experience and are given in good faith. The ideas and suggestions here have worked for us but every situation is different. As a result, we are sure you will understand that no liability can be accepted for anything that may arise from following advice on this site.