The Making of a Successful Law Firm Business

Admin — Fri, 15 Sep 2006 17:37:00 GMT

We know that measurement alone improves performance. But combine measurement with goals and plans to achieve those goals and the whole ball game changes. Planning, goal setting, measuring, and accountability go hand in hand with increased management and teamwork. The resulting culture in such law firms sets those firms and their performance completely apart from those firms who are not similarly engaged.

Yet only about one-fourth of midsized firms report that planning is a key component to their mode of operation. Why should you be one of those? Per-partner income for those firms is twice that of the next best performing 25 percent of firms and seven times that of the lowest performing 25 percent.

What do you need to do to become part of that top performing group?

Engage in the planning process
Set goals and objectives
Develop plans for achieving those goals
Measure progress and hold people accountable

Doing the above will require adequate management and foster a team culture.

The above per-partner income information comes from the recently published Juris Law Firm Economic Survey of midsized U.S. law firms. For more information or to purchase the publication, go to Juris Survey.

Morepartnerincome.com is sponsored by Juris, Inc. For information about Juris® products and services for increasing law firm performance and partner income, go to www.Juris.com.

Make More Rain : planning, benchmarking

The Making of a Successful Law Firm Business