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Adjusting the Numbers The Future of Finance in Law Firms

223,99 €

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Beschreibung

Produktdetails

Einband

Taschenbuch

Erscheinungsdatum

30.03.2021

Verlag

Globe Law and Business Ltd

Seitenzahl

80

Maße (L/B/H)

23,4/15,6/0,4 cm

Gewicht

127 g

Sprache

Englisch

ISBN

978-1-78358-404-8

Beschreibung

Produktdetails

Einband

Taschenbuch

Erscheinungsdatum

30.03.2021

Verlag

Globe Law and Business Ltd

Seitenzahl

80

Maße (L/B/H)

23,4/15,6/0,4 cm

Gewicht

127 g

Sprache

Englisch

ISBN

978-1-78358-404-8

Herstelleradresse

Libri GmbH
Europaallee 1
36244 Bad Hersfeld
DE

Email: gpsr@libri.de

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  • Produktbild: Adjusting the Numbers
  • Produktbild: Adjusting the Numbers

  • Executive summary.................................................................................................................... viiAbout the authors....................................................................................................................... xiChapter 1: Good compensation practices during COVID-19........................... 1By James D. Cotterman, Altman WeilChapter 2: Retaining your pricing confidence in challenging times........... 7By Stuart Dodds, Positive PricingStep 1: View pricing as a process.................................................................................. 9Step 2: The power of small changes.......................................................................... 9Step 3: Segmenting your clients................................................................................... 10Step 4: Helping your clients............................................................................................. 10Step 5: Managing your discounts................................................................................ 11Step 6: Reviewing and refining your practice group pricingapproaches............................................................................................................................... 12Step 7: Reviewing and selectively increasing your rates................................. 13Step 8: Keeping a clear focus on your cashflow and AccountsReceivable............................................................................................................................... .. 13Chapter 3: Partner performance – becoming and remaining apartner............................................................................................................................... ................ 15By Timothy B. CorcoranTo have under-performance, you must first have performance................. 16The Full Monty........................................................................................................................ 17Planning for success............................................................................................................ 18Evaluating performance (AKA where managers earn their pay)............... 19Carrots and sticks.................................................................................................................. 20ContentsivContentsChapter 4: Pricing, budgeting, and KPIs – all change after 2020? .............. 23By Mary Juetten, TraklightLaw is a business .................................................................................................................. 23Data before decision........................................................................................................... 24Cash is king............................................................................................................................... 24KPI basics............................................................................................................................... .... 25Five common KPIs................................................................................................................ 26The “I” in KPI............................................................................................................................ 30Budgeting is an art, not science.................................................................................... 31Pricing requires old math.................................................................................................. 31Chapter 5: The impact of COVID-19 on legal service delivery and clientexpectations ............................................................................................................................... ... 35By Richard BrzakalaThe new legal marketplace............................................................................................. 35Buying legal services........................................................................................................... 36The COVID-19 transformation...................................................................................... 37Pricing approaches............................................................................................................... 39Client expectations.............................................................................................................. 40Strategic change ................................................................................................................... 41Transforming legal service delivery............................................................................. 43Chapter 6: Options for law firm financing in difficult times............................ 45By Andrew O'Connor and Louis Young, Augusta VenturesThe five typical financing options available to law firms............................... 45Litigation finance as a risk-free option...................................................................... 47The mechanics of litigation finance ......................................................................... 49Commercial models for utilizing litigation financing........................................ 51Model two – portfolio funding ..................................................................................... 51Model three – law firm funding ................................................................................... 52Conclusion............................................................................................................................... .. 52vAdjusting the numbers: The future of finance in law firmsChapter 7: A flexible financial future.............................................................................. 55By Andy Poole, legal sector partner, Armstrong WatsonHow law firms have historically managed their practices andfinances............................................................................................................................... ....... 55The impact of COVID-19 on the performance and finances of lawfirms............................................................................................................................... ............... 57Anticipated impacts on law firms as we emerge from COVID-19............. 58Lessons learned from the COVID-19 experience................................................. 60Law firms of the future ...................................................................................................... 62