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Law Practice Management News
Ideas for Lawyers and Managers That Dare To Be Different March 2009

in this issue

Asked & Answered - How Can Profit Improvement Coaching Programs Help in These Times

Practice Management Tips for March - Financial Red Flags

Last Week to Register Upcoming Law Firm Management In Today's Turbulent Times Webinars on March 17 or March 24

John Olmstead's Client Service Presentation in Chicago

Profitability Improvement Program Coaching Sessions - Monthly Flat Fee Options In Addition to Discounted Six Month Program

Past Issues of Olmstead & Associates E-News Now Available
 

Asked & Answered - How Can Profit Improvement Coaching Programs Help in These Times

You Ask - We Respond. Answers to client questions from the Asked and Answered Section of our web site. We encourage our readers to use this section as a resource.

Question of the Month
In these economic times firms must be lean, mean, able to turn on a dime, and make and implement decisions quickly. Profitability improvement coaching programs can often provide the focus and resources to help get it done. Here is a question asked by a firm as to how they can benefit from coaching programs and our suggestions.

Find out more....
Greetings!

Welcome to Olmstead & Associates Law Practice News, a law practice management resource for practicing attorneys, managing partners, administrators, and others that must keep updated on all aspects of law firm management.


  • Practice Management Tips for March - Financial Red Flags
    		•

  • Reduction in fees collected by 15% or more. Consider headcount and examine on a per attorney/per fee earner basis.
  • Reduction in fees billed by 15% or more.Consider headcount and examine on a per attorney/per fee earner basis.
  • Annual billable hours less than 1500 for attorneys and paralegals.
  • Declining inventory/pipeline (WIP, A/R, New Cases)
  • WIP over 180 days >15%
  • AR over 180 days >25%
  • Occupancy Expense >10% revenues
  • Gross profit margin less than 35%
  • Billing realization less than 95%
  • Collection realization less than 97%

  • Last Week to Register Upcoming Law Firm Management In Today's Turbulent Times Webinars on March 17 or March 24
    		•

    Thursday March 12, 2009 is the last day to register for the upcoming webinar.

    Click here for addtional information and to register ..
  • John Olmstead's Client Service Presentation in Chicago
    		•

    On March 13th Dr. John Olmstead will be presenting Improving Client Service Through Effective Interpersonal Communications sponsored by the Horton Group of Chicago. The session will be held at the Metropolitan Club, 67th Floor, Sears Tower.

    Click here for details..
  • Profitability Improvement Program Coaching Sessions - Monthly Flat Fee Options In Addition to Discounted Six Month Program
    		•

    Dr. John Olmstead is now offering a quarterly and monthly flat fee option in addition to our popular six month program. Contact our office as soon as possible if you are interested in learning more about the program. Click here to download a brochure (Note: At times there is a waiting list as we can only have a certain number of people in the program at one time.)

    Read on..
  • Past Issues of Olmstead & Associates E-News Now Available
    		•

    Past issues of our Law Practice Management E-News Letters are now available. If you are a new subscriber or have simply lost past issues - click below to access our archieved copies.

    Click here to access archived copies...
  • Guide to Law Firm Management Best Practices
    		•
    Download a copy of our Guide to Law Firm Management Best Practices.

    To learn more about Olmstead & Associates visit their web site at www.olmsteadassoc.com

    To View & Print the Guide

    ::Phone 314-241-5665

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