LawVision INSIGHTS Blog

Posts Tagged ‘law firm profitability’

Posted In: Law Firm Resilience, Pricing Strategy, Profitability, Uncategorized

Making the Right Moves in a Year of Uncertainty

Recent legal industry reports[1] (i.e., the Citi Advisory and Georgetown Report) have highlighted financial performance for law firms in 2022, which presented law

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Posted In: Law Firm Resilience, Mergers & Acquisitions, Strategic Planning, Uncategorized

Keeping Your Options Open: Preparing for Strategic Flexibility in a Competitive Legal Environment

While the post-pandemic merger pace is slower than many expected, law firm combinations are clearly on the rise.  More significantly, recent announcements suggest

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Posted In: Business Development, Legal Sales

Leading Marketers Weigh in on Rethinking Law Firm Pitches and Proposals

During the pandemic, buyers of legal services not only increased the number of Requests for Proposals (RFPs) issued, but also deployed new technologies

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Posted In: ALSP, NewLaw Business Models, Profitability

Commoditized Work Can be a Gold Mine…Particularly with the Use of an ALSP

By Mike Short and Yvonne Nath Within many law firms, any variations on the word “commoditized” (i.e., commodity, commodification, commodified) are very bad

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Posted In: ALSP, NewLaw Business Models, Profitability

Law Firms Can Use ALSPs to Command an Additional 30% or More Profit Margin

By Yvonne Nath and Mike Short Take one type of client work for which you are competing on price. Pick something routine. Preferably work

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Posted In: Profitability

Your Realization is Wrong and What to Do About It

Realization, the long-standing hallmark of law firm performance, is ready for a makeover. While the metric is not inherently flawed, its calculation and

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Posted In: Profitability

Manage Profitability or Rely on Luck: Why Law Firm Profitability Matters More than Ever

A few weeks ago, I addressed “What’s Next for the Legal World?” in a post focused on critical challenges facing law firms.   In

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Posted In: Profitability

Lessons from the Pandemic and the “Perfect Storm” for Profitability

The Peer Monitor Index (PMI) just reported Q4 results from 2020, observing that the index hit its highest quarterly score in its history

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Posted In: Law Firm Resilience, Profitability, Talent Strategy

A Rapidly Developing Law Firm Profitability Battle

As a result of the global pandemic and the impact that it has had on law firm operations, platforms, and business models, there

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Posted In: Profitability

Calling Messrs. Jekyll and Hyde – Profitability Stretches for 2021

As we enter December looking to conclude what surely is going down as the most bizarre year in our lives, we look to

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