|
|
| |
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.
Our Law Practice Management E-Newsletter is distributed on the first Wednesday of each month. Look for it and send us your emails with your ideas for topics that you would like covered. I wish to thank those who take the time to email me with their thoughts and comments. I encourage our readers to do so.
|
| |
| |
| |
| Law Firm Production Metrics for Part-Time Associates and Paralegals |
| |
Many law firms with part time associates and paralegals advise us that they are having a hard time getting a handle on determining the productivity of associates and paralegals. You might want to consider using a billable/worked ratio which is the ratio of billable hours logged to hours worked. For attorneys and paralegals that are totally focused on providing client services a good benchmark is 70%-73%.
|
| |
Read on . . . |
| |
| Branding the Law Firm vs. Branding the Individual Attorney |
| |
In today's climate it takes both - a firm's brand and individual attorney brands. I am often advised by clients of our law firm clients that they hire the lawyer - not the law firm. While this is only partially true, it brings home the importance of individual branding. Often lawyers think they can push off their business development responsibilities to "the firm" and go back to practicing law. This is simply not the case. Marketing and business development must occur at the firm, practice group and individual lawyer levels. Resources must be allocated to each.
|
| |
Read on . . . |
| |
| Solo-Small Firm Question of the Month - Law Firm Owners and Partners - What is Your Primary Focus - Business Person or Lawyer? |
| |
Question I am an attorney in Chicago. I am the sole owner of an estate planning practice consisting of 4 other attorneys, 4 paralegals, and 2 administrative support staff members. We have reached a size where I am having problems handling and balancing the demands of serving my clients and managing my firm. It seems I am working day and night and have no time for anything but work. I am frustrated and it is driving my crazy? I would appreciate any thoughts that you may have.
Answer:You are not alone. This is a common problem in law and other professional service firms. I have similar problems in my own firm - it is very difficult to serve two masters - serving your clients and managing your firm. Eventually you have to pick one - client service (doing legal work) or managing and running your business - as the area that receives your primary focus. This is not to say that you should not do both - but you select the primary area that you are going to focus on and get help with the other area.
|
| |
Read on . . . |
| |
| Download Our Profitability Checklist |
| |
Are you looking for a quick and dirty checklist to use to review the profitability of your practice. Click below for a copy of our Law Practice Profitability Checkup.
|
| |
Click here to download ... |
| |
| Looking to Sell or Merge Your Practice - Let Us Know |
| |
We frequently consult and work with law firm clients working on implementing succession strategies that involve the sale of a law practice, merging with another firm, or hiring lateral talent. If you are looking to join up with another firm keep us in mind. We will be posting confidential listings on our website in the near future.
|
| |
|
| |
| FREE Guide to Law Firm Management Best Practices |
| |
|
| |
|
