Walker Clark
Worldview Archives
The Law Firm of the Future: Sustainable Profitability
Your law firm is making money today.
But what about next year?
What about ten years from now?
Do you even know how you are profitable today?
Watching How the Numbers Move
Most law firm leaders and managers watch their numbers very closely, but they often fail to notice how those numbers move.
Understanding variation in performance — how the numbers move — can provide profound insights into improving profitability.
Resisting the Temptation to Cut Costs
Although some of the world's law firms are beginning to enjoy the results of a slow economic recovery, many others are not. In eastern Europe and Russia, for example, many firms are confronting the prospects of sharply declining fee revenues in 2015 from what were some of their most profitable practice areas and clients in 2013 and 2014. In such a scenario, it is very tempting to start cutting operating costs.
Resist that temptation.
The Six Classic Drivers of Law Firm Profitability
Six factors have the greatest overall impact in the profitability and long-term financial performance of small and midsize law firms worldwide.
This is one of the ten most frequently read posts in the Worldview Archives, with more than 12,000 views since it was published in 2014.
