Law Practice Management News
Ideas for Lawyers and Managers That Dare To Be Different July 2010

in this issue

Law Firm Succession/Strategies: Ideas for Getting Started

Cost Cutting Strategies

Feasibility of Eat What You Kill Compensation Systems

Business & Personal Coaching Programs


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.

We hope everyone has had a good first half for 2010. It has been several months since our last newsletter. During that time we have revamped our website and developed new content as well. With the launch of our new website and this issue we anticipate getting back on our monthly schedule.

We were impressed with the turnout this year at the Missouri Bar Solo Small Firm Conference. 1000+ in attendance. It was nice seeing everyone again both at our session and at our booth. More and more lawyers are recognizing the importance of running and managing their firms as a business and are implementing new business models and approaches to the delivery of legal services.

  • Law Firm Succession/Strategies: Ideas for Getting Started
  • Law firm succession and exit planning is one of the hottest management challenges facing attorneys whether they are partners in a law firm, a sole owner of a firm comprised of other employed attorneys and staff members or a solo attorney in practice with no other attorneys in the firm.

    Read on for our ideas on the topic...
  • Cost Cutting Strategies
  • We are often asked to help law firms design and implement profitability improvement programs. In most of our engagements the real problem is insufficient gross income and lack of sufficient investment (spending and time) on marketing and initiatives designed to stimulate client and revenue growth. For most firms increasing revenues is the most effective way of impacting the bottom line. However, we do find that there is waste and unnecessary overhead that eats away at profits and a cost control program is also recommended and implemented. Here are a few ideas.

    Read on ...
  • Feasibility of Eat What You Kill Compensation Systems
  • Are eat what you kill compensation systems appropriate approaches to compensation? It depends. You must ask yourself what kind of firm you want to be - team-based firm or group of space sharers or partnership of individual firms.

    Read on ...
  • Business & Personal Coaching Programs
  • Our flat fee and our discounted six month coaching programs have been developed to provide attorneys with one-on-one coaching to help them get "unstuck" and move forward in reinventing both themselves and their law practices

    Read on ...
  • FREE Guide to Law Firm Management Best Practices
  • Download a FREE 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 FREE Guide

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