Law Firm Economics: Making Sense of the Dollars and Cents

Law Firm Economics: Making Sense of the Dollars and Cents

Domain: Business of Law

Marketing professionals focus daily on the function at the very core of law firm success or failure — revenue generation. Because law firms must operate more like traditional businesses than ever before, it is essential that you understand how the decisions made in individual or group attempts to garner business affect law firm performance. This session will cover group performance metrics and how each of those move with business development tactical decisions. Further, we will review how those group metrics funnel up to the firm level and affect firm profit, employee compensation, and resource allocation.

Topics include:

  • The metrics that define group performance in law firms
  • How those metrics move with business development tactics, like hourly rate and volume discounts, staffing, alternative fees, and the like
  • How group performance affects overall firm performance
  • How firms calculate profit and then translate that into compensation and resource allocation

Ralph Allen, Chief Operating Officer, Allen Matkins Leck Gamble Mallory & Natsis LLP
Jennifer P. Keller, Chief Operating Officer, Baker, Donelson, Bearman, Caldwell & Berkowitz, PC

Member Price: $59
Prospective Member Price: $79

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