Beyond the Billable Hour
Interested in growing your law firm but don't know where to start? Like it or not, the practice of law is a business - and it is important to have the proper tools in place to analyze it's success.
A Time, Billing and Accounting system provide you with a platform to track information, run quality reporting, and gain detailed insights about which areas of your firm are successful, and which need improvement. Maybe you already have a system in place to track time, produce invoices, and run financials - but are you using this system to its full potential? There are more ways to measure profitabilty than billable hours.
This guide takes you step-by-step through:
- How to determine whether each firm member is productive
- Tracking billable & non-billable time to make staffing decisions
- Calculating an attorney's "lost fee opportunity"
- How to tell if you're making a profit on flat fees
- Determining which areas of your practice are losing money
- Rethinking compensation based on "billed" vs "collected" fees
- Simple techniques for recovering your expenses |
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