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Insight, Strategy, Action.

providing research, training & management advice to law firms
throughout Australasia for the past 30 Years.

Latest Posts

Variable Cost Base: Why, What, and How?

October 18th, 2015 | Published by

The legal profession, and arguably all professions, have to date been comprised of top-line focussed firms. In its simplest terms, the management thinking could be summarised as ‘If we get the revenue right, the costs and profit will take care of themselves’. In most cases this proved very effective. For the thirty years prior to... View Article

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Are law firms valuable businesses?

August 23rd, 2015 | Published by

Well managed, profitable, organised businesses with repeat customers are worth real money. Why not law firms? We now have a large, successful, publicly owned law firm with a rising share price. It is not uncommon for small, successful firms to be purchased and sold. Many firms have retained goodwill in their balance sheet, sell interests to... View Article

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Benchmarking – Focus where it Matters

May 13th, 2015 | Published by

From the early 2000′s a number of performance trends have gathered strength in the legal profession. Benchmarking data from the FMRC Legal Business Monitor (www.legalbenchmarking.com.au) shows a continuation of performance polarisation and a heavy reliance on price to grow (or maintain) gross fees. These internal issues are compounded by external pressures such as further commoditisation... View Article

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Cost of Production

March 16th, 2015 | Published by

Price is critical to profit. Price determines your client mix. Price determines how hard you have to work. Price is a critical part of your marketing strategy. Many aspects of success are determined by price. Read Article – Cost of Production

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6 Strategic Opportunities

January 21st, 2015 | Published by

1. Life balance versus performance ethic 2. Generation skill sets 3. The boutique emerges as the norm 4. Good firms combat commoditisation with client intimacy 5. Knowledge management a major differentiator 6. Flexible working arrangements retain talented individuals Read Article – Strategic Opportunities

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Are Law Firms Valuable Businesses?

October 22nd, 2014 | Published by

Well managed, profitable, organised businesses with repeat customers are worth real money, why not law firms? We now have a large, successful, publicly owned law firm with a rising share price. It is not uncommon for small, successful firms to be purchased and sold. Many firms have retained goodwill in their balance sheet, sell interests... View Article

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Profit Improvement for Small Law Firms

August 13th, 2014 | Published by

Financial performance in the legal profession is best described as patchy. Some firms are doing exceedingly well, others are muddling along and a lot are struggling. Whilst the more financially successful firms share some strategic and operational traits, there is no one true model for guaranteed success. Read Article – Profit Improvement for Small Law Firms... View Article

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A Year of Practice Management

June 1st, 2014 | Published by

Law firms usually don’t mirror the economy.  More often than not they lay behind it, slowing down some time after economic slowdown and growing some time after economic escalation.  The future of the Australian economy and its component parts that drive law firm growth remain uncertain.  Whilst it is difficult to predict the future, I... View Article

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