10 Key Financial Metrics to Monitor Sustainable Growth in Your Law Firm
Ideal for Principals, Practice Group Leaders, Management and Partners who need to know their numbers.
Learning outcomes:
- The amount of money that needs to be earned each year in order for the business to meet its expenses/costs.
- The Average Billable Rate per hour across the firm.
- True Market Rate or True Market Value.
- The percentage of time spent on billable work versus total available working hours.
- The time it takes to convert work in progress (WIP) and receivables into cash.
- plus more
1 CPD unit/point Practice Management
About your speaker:
GSJ founder Richard W Smith is a specialist business development professional with a proven track record of working with partners and principals to acquire, retain and grow clients to ultimately see profitable client revenue in the millions of $$s.
We work with our clients in: deployment of strategic growth initiatives; streamlining tender and bid processes (RFT/RFP); coaching partners/principals; and managing key accounts.
The right price – with the right people – wins you the right work!
Previously a lawyer, Richard has deep empathy for the day-to-day struggles professional service providers face in building and maintaining a practice. Throughout his career, Richard has worked with professional services firms in Europe, Asia and Australia on growth strategies that have had life-changing results.
Our team are project management trained (with PMP certification) in waterfall methodology and has significant experience putting in place a process to ensure your pursuit goals are met.
Our success rate in this area is 80+% – including from cold-call to client onboarding.
While totally ignoring the concept of her own physical boundaries, Paddington’s empathy and friendliness has helped us understand the values GSJ needs to bring to our client services.
