Many thanks - I found the seminar very helpful and I think it could easily have been expanded to a day plus
Strategy and the Role of the Finance Director
In a recent piece of research, the McKinsey Quarterly considered the role of the CFO in the top 100 global companies by market capitalisation, and came up with four profiles of top-flight finance professionals.
The Perils of a Fixed Cost Structure
One of the problems we regularly come across working with law firms is the lack of headroom, or buffer, the partners have when it comes to the firm’s cost structure. In balance sheet terms, the late Professor Larry Ribstein summed it up best – law firms behave as ‘thinly capitalised workers’ cooperatives’ – they have very little in retained earnings, which puts huge pressure on partners’ profits when times are difficult.
To Incorporate, or...
The growing trend towards incorporation, and away from the traditional partnership model, in the legal profession raises the question again of what benefits there are for partners from incorporating their business.
Targets - Aspirations and Imperatives
In my recent Law Management Section webinar "Using Financial Efficiency to Reduce Costs and Increase Profit" I asked the audience how many chargeable hours per year their firm expects from its fee earners. Over 75% of the audience indicated that their target was over 1000 hours per year.