Financial Management

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Law Firm Resilience in a Crisis: Part One – Financial Resilience

By Edge International

There is a serious risk that apparently obvious corrective action on the financial dimension can have damaging consequences in other areas of the business, undermining confidence or the firm’s ability to compete or recover.

Some Thoughts on Cost of Production

By Neil Oakes

Over the last few years, the management of cost of production has become the most significant lever in maintaining and improving profits.

2020 Partner Compensation Survey

By Nick Jarrett-Kerr

(Thank you to those who participated in this confidential survey into effective partner reviews, rewarding outlier performance and other important topics.)

Realize Financial Goals by Leveraging the Finance Function

By Leon Sacks

Is it inconceivable that: one hour of each attorney’s weekly billable time cannot be billed; or markdowns of […]

Profit-Sharing in Smaller Partnerships

By Neil Oakes

In my most recent article, I looked at some alternative options for profit-sharing among law-firm partners. All of […]

The Benefits of Paying Creditors Promptly

By Sean Larkan

When I started off in law firm leadership and management some thirty years ago, I wondered at the […]

Zero-Based Budgeting in the Legal Profession

By Yarman J Vachha

In my many years of managing law firms of all shapes and sizes, budgeting is often looked upon […]

Sharing Profit and Millennial Partners

By Neil Oakes

The millennial generation, born from 1981 to 1996 (or thereabouts), now 23 to 38 years of age (or […]

Equity: From Goodwill to No Goodwill

By Sam Coupland

In recent years I have been engaged by a number of firms to change their equity arrangements and […]

QNBT: Extracting Real Value from Non-Billable Time

By Gerry Riskin

“Your billable time is your income; your non-billable time is your future.” – David Maister Non-billable time gets […]