10 Things Firm Leaders Should Consider For 2025
10 Things firm leaders should consider for 2025. The Edge International Principals hope you find these suggestions helpful.
A Fresh Look At Law Firm Valuation
Changes will involve valuation issues, be it the valuation of firms or shares in them. While traditional methodologies of valuation may be used as comparative benchmarks, they do not necessarily focus on the real value involved in any transaction.
Law Firm Resilience in a Crisis: Practical Guidance for Action (A Four-Part Series)
A compilation of the four-part “Law Firm Resilience” series focusing on: Financial Resilience; Operational Resilience; Commercial and Client Resilience; and People Resilience.
Law Firm Resilience in a Crisis: Part Four – People Resilience
Periods of crisis, with sudden disruption to normal working life, create massive potential obstacles to engaging and supporting your people. This requires firms to make some rapid changes.
Law Firm Resilience in a Crisis: Part Three – Commercial and Client Resilience
How you work and communicate with clients in times of crisis is the ultimate test of both your firm’s immediate adaptability and its long-term resilience.
Law Firm Resilience in a Crisis: Part Two – Operational Resilience
Smarter, faster responses are essential to operating during a crisis, as is restructuring to compete in the new market reality.
Law Firm Resilience in a Crisis: Part One – Financial Resilience
In times of crisis, financial decisions need to be made quickly – but they need to be made in context and in line with a clear strategy and direction.
Realize Financial Goals by Leveraging the Finance Function
Is it inconceivable that: one hour of each attorney’s weekly billable time cannot be billed; or markdowns of 3% of the value of time worked occur when finalizing billing? In a typical firm, either of these seemingly minimal adjustments would result in a reduction of about 10% in profits. In the familiar profitability model (see […]
The Benefits of Paying Creditors Promptly
When I started off in law firm leadership and management some thirty years ago, I wondered at the time what the general approach should be to paying the firm’s creditors – on invoice, after 30 days, or even after 60 days or more? After talking to my colleagues in other firms, I realised most firms […]
Zero-Based Budgeting in the Legal Profession
In my many years of managing law firms of all shapes and sizes, budgeting is often looked upon by the lawyers as a chore and a paper exercise which quite often, once prepared, sits in the bottom drawer of the desk and is only dusted off when it comes to looking at the next year’s […]