Month: October 2023

When it comes to running a profitable law firm, financial metrics aren’t the only ones that matter. In fact, metrics that are related to productivity are often inextricably linked to those that measure profitability and other financial indicators. That’s why it’s so important to consider those metrics that have to do with case management procedures and to consider how they are impacting your bottom line. Today, we’re going to share some ways to evaluate KPIs that are directly related to your team’s productivity and performance and to explain how those can be evaluated alongside financial metrics in order to improve decision making and optimize business sustainability and performance. 

One of the biggest questions small law firm owners ask us when it comes to optimizing their business is how they can tell if their profit margins are healthy. Sometimes, finding benchmarks for profitability for small firms can be challenging, as many national benchmarks are considering large and mid-sized firms as well. Still, your profit margin is the best indicator of your firm’s financial healthy and overall efficiency and needs to be evaluated in order to help your firm succeed. Today, we’re going to share some advice about how to understand your profit margin in context, manage your law firm’s labor costs in order to boost profits, and give some tips you can use to boost your profitability overall.

Giving Tuesday is on the horizon! Has your law firm considered how you can support your favorite charities and non-profits this year? Especially during this time of year, many attorneys are searching for meaningful ways to give back to their communities and show support for the causes that matter most to them. It’s an added benefit that charitable giving can help reduce your tax burden, too! Today, we’ll share some of the tax benefits of charitable giving for law firms, address some of the most commonly asked questions, and provide guidance on how to donate and get the tax deductions you’re entitled to for those donations.