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Strategic Clients - Strategic Practices

As we have argued in this article, the market segmentation described by Alan Hodgart is likely to lead many mid-market fi

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Performance Measurement

One common issue in the management of law firms is that performance falls short of expectations for a period of time, but the firm’s management only finds out when it is too late to make the requisite improvements.

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Avoiding Unpleasant Surprises - Law Firm Failure

Over the past few months the issue of law firm failures has repeatedly appeared on our agenda.

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Fixing the Roof

When we were in the midst of a deep recession, profits and cash flow were tight, and law firms reacted by looking at their operations and taking management more seriously.

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The Growth Conundrum

Lawyers often put the emphasis on growing turnover in the expectation that higher turnover produces more profit, which can translate into more drawings – which, after all, seems impeccably logical.

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Retaining Profits - Redirecting Emphasis

One of the most troubling issues in law firm finance is the persistent desire of firms to draw more out of the firm than the level of profit that is being created in a year. In an ever more competitive world, it is very risky to weaken the firm’s finances by over-drawing profits.

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