LawVision INSIGHTS Blog

Archive for Profitability Category

Posted In: Business Development, Legal Sales, Profitability

When Developing a Sales Process for Your Law Firm, Start with the Buyer’s Process

“We can go about selling in a systematic way because there are repeatable processes in both buying and selling.” This is an observation

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Posted In: Pricing Strategy, Profitability

Fiscal 2023 Rate Strategies Series: Big Miss #3 – Wide Rate Dispersion with Bonus: Thoughts on Fiscal 2023 Rates

Today’s blog is the last installment of a three-part series on Big Pricing Misses1. Pricing is one of your strongest drivers of profitability.

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Posted In: Pricing Strategy, Profitability, Strategic Planning, Uncategorized

Fiscal 2023 Rate Strategies Series: Big Miss #2 – The Perils of Rate Stagnation (Flat Rates)

Today’s blog is part two of a three-part series on Big Pricing Misses[1]. Last week, I described the current precarious law firm rate-setting

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Posted In: Pricing Strategy, Profitability, Uncategorized

Fiscal 2023 Rate Strategies Series: Big Miss #1 – Unnecessary Discounting

As we look to close out 2022, it has never been more important to execute your pricing strategy well. The competitive market for

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Posted In: Benchmarking Research, Compensation & Performance, Profitability

Cash Management Actions to Drive Profitability

Great attention is paid to rate and pricing strategy for many law firms but, paradoxically, managing cash flow well is frequently overlooked. Imagine

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Posted In: Legal Project Management, Profitability

Legal Project Management: Have You Noticed Your Profits?

Legal project management is all about improving your outcomes. Many firms have an enviable client roster, a strong track record, and deep practice

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Posted In: Compensation & Performance, Legal Process Improvement, Pricing Strategy, Profitability, Talent Strategy, Team Performance

2022 Profitability Strategy Checklist

While we are in the early days, 2022 has already delivered many gifts to us, including stock market volatility, high inflation, the advent

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Posted In: Compensation & Performance, Profitability, Talent Strategy

Shifting the Conversation on Associate Compensation: From “What Can We Afford?” to “Where Should We Be?”

There may be no single economic challenge facing law firms today bigger than the current war for talent.  Driven by transactional practices, the

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Posted In: NewLaw Business Models, Pricing Strategy, Profitability, Strategic Planning, Talent Strategy

Lost Momentum in the Evolution of the Law Firm Business Model

In the midst of a global pandemic, the legal industry has remained incredibly resilient as the demand for services – particularly deal support

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Posted In: ALSP, Law Firm Resilience, Profitability, Strategic Planning

You Should Know What You Don’t Know: Do You Really Understand Your Competition?

“World trade means competition from anywhere; advancing technology encourages cross-industry competition. Consequently, strategic planning must consider who our future competitors will be, not

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