In October, NatWest Bank produced a free law firm financial benchmarking report on the profits being made by law firms outside the UK’s top 100. It shows that law firms with profits below £25m are struggling to turn fees into real profit. The report, authored by well-known law firm finance Read More
I was recently asked to prepare a session for a group of law firms on Return on Investment ROI in professional service firm marketing and business development. Sometimes, marketers are a bit like Jesse J and expect partners to make a leap of faith – “It’s not about the money, Read More
At a recent CLT session on this subject, the delegates – mostly heads of family departments outside of London – found the following concepts most valuable for developing a privately funded family law practice: Mind shift – from public service provider to profit generator a) Accept it’s not Legal Aid anymore – Read More
As well as working with some “BigLaw” firms, a lot of my time is spent working with medium and small law firms on a variety of strategy, business development and relationship management projects. When it comes to the topic of developing legal products or services – and particularly the area Read More
Despite its crucial importance in driving profitability and competitiveness, and its centrality in the marketing mix, it’s surprising that there is not a lot of published material about how law firms (and other professions) price their services. The hourly rate Until recently, the hourly rate (and it’s best friend the Read More
