Having last month reviewed our 2011 report Beyond ABS: The Future for Independent Law Firms, we now turn to a recent report
As we have argued in this article, the market segmentation described by Alan Hodgart is likely to lead many mid-market fi
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.
Over the past few months the issue of law firm failures has repeatedly appeared on our agenda.
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.
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.