Profitability in Law Firms: Insight and Analysis
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Profitability in Law Firms: Insight and Analysis

By Toby Brown
Globe Law and Business February 2024

Specifications

ISBN-13
9781787429970
Publisher
Globe Law and Business
Publication
February 2024
Format
Paperback , 211 pages
Jurisdiction
International ? Countri(es) for reference only

Details

Profit. What a simple term. To determine it, all one needs to do is take revenue and subtract costs and there you go: profit. From there it’s easy to determine a percentage and margin. So what’s so hard about law firm profitability? Profitability in Law Firms: Insight and Analysis provides practical and proven strategies for law firm leaders and managers who want to take their firms to the next level of performance and profitability.

How can they increase their profitability and efficiency without compromising their quality and reputation? How can they leverage the power of technology, data, and innovation to create value for their clients and themselves? Law firms are facing unprecedented challenges in the current financial climate and therefore need profitability strategies to survive and thrive in a competitive and changing market.

Table of Contents

Chapter 1: The law firm profit primer
By Toby Brown, CEO – DV8 Legal Strategies
Chapter 2: Prioritizing profitability
By Eugenia Frenzel, Director of pricing and practice management economics, Perkins Coie
Chapter 3: The metrics of profitability
By Steven Campbell, principal, Acumen KPI
Chapter 4: Applying battlefield lessons during peace time – lessons from the COVID-19 pandemic
By Tim Corcoran, BringinTim
Chapter 5: Linking partner and associate compensation to the achievement of a firm’s strategy
By Mark Santiago, SB2 Consultants
Chapter 6: Pricing approaches and firm profitability
By Shaun Jardine, Big Yellow Penguin
Chapter 7: Questioning the value of law firm rack rates
By Richard Brzakala, senior director, Global External Legal Services
Chapter 8: The next frontier in pricing strategy – capturing value from legal technology
By Stuart Dodds, principal, Positive Pricing
Chapter 9: Harvey specter – the ghost of a law firm reality yet to come
By Phil Nixon
Chapter 10: AI and what it means for law firm profitability
By Wayne Hassay, managing partner, Maguire Schneider Hassay
Chapter 11: The profitability journey – navigating success
By Madhav Srinivasan, CFO, Hunton Andrews Kurth
Chapter 12: The human cost of boosting profitability
By Richard Martin, principal consultant, Byrne Dean
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