It's that time of year when law firm administrators must start planning how to invest their resources to meet next year's expectations. And the only way to do that is with a realistic budget. Here are some tasks you can address this month to help you get a sense of where the firm's at now, so that you can realistically plan for where you want it to go. Assemble your 2024 … [Read more...] about TO-DOs: Your October office checklist
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If you’re ignoring these 6 rules, you can kiss your budget good-bye
It's that time of year when law firm administrators need to "calmly and carefully consider how they are going to invest their resources to meet next year's expectations," says business and financial management consultant Gene Siciliano, CMC, CPA, of Western Management Associates in Los Angeles. And the only way to do that is with a realistic and workable budget. Drawing … [Read more...] about If you’re ignoring these 6 rules, you can kiss your budget good-bye
Show Me the Money: Secrets of Effective Law Firm Budgeting & Expense Management
Downloadable Files: Presentation Slides 2019 Proposed Budget Spreadsheet 2019 Budget Spreadsheet Presenter:Elizabeth Miller, MBA In this webinar recording Elizabeth Miller, a leading law firm financial expert and consultant, explains the practical, "how-to" budgeting techniques and proven best practices you need to accurately project law firm revenue, track … [Read more...] about Show Me the Money: Secrets of Effective Law Firm Budgeting & Expense Management
The County Law Library: Don’t overlook this FREE and valuable legal resource
According to just about every legal management article, webinar, or podcast, the landscape of the legal market in the past few years has changed—dramatically. Clients, it seems, are firmly in the driver's seat. And with an abundance of legal service providers, these clients are demanding efficient and cost-effective solutions, leading many firms to rethink their … [Read more...] about The County Law Library: Don’t overlook this FREE and valuable legal resource
Simple ways to kill every tried and true legal marketing effort
The most sophisticated marketing can fall flat from the simplest attorney mistakes. Here are five of them. They are outlined by Deb Scaringi, a Boston marketing and business development consultant to professional service firms. 1. When the follow-up becomes stalking The first mistake is too much zeal, or killing a prospect with too much follow-up. Follow-up is essential. … [Read more...] about Simple ways to kill every tried and true legal marketing effort
The Tax Cuts and Jobs Act: Are you and your staff getting the most out of each paycheck?
Sixty-eight percent of employees are not sure how the Tax Cuts and Jobs Act (TCJA) will impact their finances, according to the 2018 "Getting Paid In America" survey conducted by the American Payroll Association. "With recent changes to tax laws, it's more important than ever that employees review their current tax withholding," said Dan Maddux, executive director of the APA. … [Read more...] about The Tax Cuts and Jobs Act: Are you and your staff getting the most out of each paycheck?
4 ways to avoid the accidental attorney-client relationship
By Elizabeth M. Miller bio What is the accidental attorney-client relationship? This is a relationship that is formed most often after the potential client has consulted with an attorney and the potential client leaves the office mistakenly believing that the attorney has "taken their case." The key to this accidental relationship is that the attorney-client relationship has … [Read more...] about 4 ways to avoid the accidental attorney-client relationship
The top five reasons firms lose money and go out of business
"Lawyers become lawyers because they want to help people and practice the art of law," says Los Angeles financial consultant Gene Siciliano, CMC, CPA, author of Finance for Non-financial Managers (McGraw-Hill, New York). And once in practice, lawyers focus exclusively on their technical expertise, not the essentials of running a business successfully. "They think they can get … [Read more...] about The top five reasons firms lose money and go out of business
Plan firm’s transition now even if retirement is years away
Many of us daydream of how we'll spend our retirement years; it's the dream we've chased all of our careers. However, when faced with the reality of this life-changing phase of life, retirement suddenly switches from a dream to a touchy subject—and it's a subject every law office administrator must address and properly plan for, because at some point in the life of your firm, … [Read more...] about Plan firm’s transition now even if retirement is years away
Follow the example of the Navy SEALs and build the framework of an excellent training program
By Michelle Spencer bio Recently, an article appeared in The Harvard Business Review entitled "How the Navy SEALs Train for Leadership Excellence," written by Michael Schrage, an educator and research fellow at MIT Sloan School's Center for Digital Business. In his article, Schrage wrote, "As an educator, I fear world-class business schools and high-performance … [Read more...] about Follow the example of the Navy SEALs and build the framework of an excellent training program