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Partnership Issues - Billings, Closings and Profitability
| Profitability | Cost Containment | Financial Growth | Budgeting |
Profitability
Latest CPA Firm Profitability Benchmarks to Help at Your Partner Retreat
Chargeability, multipliers, standard fees, and profit margins. How does your firm stack up?
How to Raise Your Billing Rate Without Going Grey or Losing Valuable Clients
It's a good year to raise your rates. These tips will help you meet the rates billing issue head-on.
After Years of Stability, Can Law Firms Expect to Increase Billable Hours?
Useful tables in this 1997 study show that median billable hours remain conservative and relatively flat. Firm leaders must continue to explore other profitability routes.
What is the single most important area to focus on to improve our firm's revenue stream?
Short Q&A that gives short and long term suggestions.
Cost Containment
How One Credit Department Used Telecommuting To Cut Costs While Raising Productivity
Read about one department's attempts to reduce office overhead and increase productivity. It worked.
32 Practical Tips to Accelerate Monthly Closings
Reduce costs and time by focusing on departmental work routines. Here are solutions to seven common problems in accounting.
Using Financial Ratios To Measure Business Success
Using comparisons of your firm's ratios to industry peers can help you to project and plan and make adjustments, says Big Six firm Coopers & Lybrand. Look at solvency, efficiency and profitability--in your own firm and in potential merger partners.
Financing Growth
Ten Critical Elements of a Winning Business Plan
Looking to expand by seeking outside financing? These 10 handy tips will help you to keep your focus on the business issues that matter most to investors and bankers.
Presenting Your Company to Investors
Looking for outside financing? Working with clients who are? Make the most of the 15 minute financial window of opportunity you have to present your firm by practicing and preparing.
Refining Acquisition and Retention Strategies with Hazard Models
Understanding the direct link between cash flow and client relationships is the first step. Calculate the "lifetime duration" of these relationships to determine a firm's value.
Budgeting
How to Determine the Marketing Investment
The magic number depends on what you want to accomplish. What do you want to accomplish?
Alternative Ways to Track Law Firm Profits & Costs
Do you really know how much your firm earns? Three areas should be reviewed regularly. Check the sidebar story.
15 Ways to Pump Up Your Gross Revenues
Great ideas from clever people. Overlook the typos.
Firm Technology Budgeting is Difficult
Law Journal article offers guidelines and issues.
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