As a law firm stakeholder, you affect your firm’s profitability every day, with every move you make. And probably more importantly, you affect it with every move you don’t make; which is actually much better news than you may realize.
Once you understand that you affect your firm’s financial picture even by doing nothing, it becomes easier to take positive action instead of sitting back and hoping good things happen. The five “gears” of law firm profitability, and their movements, are all firmly in your hands. It’s merely a matter of fine tuning each one, one at a time, to get them all working smoothly together.
This publication references content, which I contributed to a case study that was conducted by LexisNexis about Sadler Law Firm LLP in 2012. See pages 16-17.