by Richard Wyatt | 12 Dec 2022 | Finance, Our Insights
Many Managing Partners get exasperated by their firm’s inability to get away from being cash-strapped, despite seeming to make decent profits, whether annually or month-by-month. There is a constant worry about paying the salaries and other major commitments, such as...
by Richard Wyatt | 10 Mar 2022 | Advisory, Finance, Making law firms more profitable, Our Insights
This is the last of this mini-series on law firm profitability and how to effect serious improvements in Net Profit. The previous articles illustrated that there was only one sound way to improve law firm profitability, which is to improve fee earner productivity. You...
by Richard Wyatt | 3 Mar 2022 | Advisory, Advisory, Finance, Finance, Making law firms more profitable, Our Experience, Our Insights
So far in this mini-series, we have looked at two ways of increasing law firm profits. Firstly, by only increasing fee earner numbers, and Secondly by making fee-earning staff more productive, i.e., they produce more Income, per fee earner, per annum. We concluded...
by Richard Wyatt | 24 Feb 2022 | Advisory, Finance, Making law firms more profitable, Our Insights
This is the second in a little series of short articles, where we are looking at what is the best way to make law firms more profitable. In the previous article, we mentioned that there are three main ways to increase profitability. They are: Increase fee earner...
by Richard Wyatt | 17 Feb 2022 | Advisory, Finance, Making law firms more profitable, Our Insights
It’s a given that law firms would like to be more profitable. But how do we become more profitable? In the following series of articles, I shall point you to the key issues that you need to address to make your firm more profitable. What are our options? Luckily the...
by Richard Wyatt | 6 Nov 2021 | Advisory, Finance, Our Insights
Should we look at making our routine banking operations cheaper and slicker? Here are some opportunities. I was a full-time law firm FD until a couple of years ago. Now I help smaller firms by providing those services to them on a part-time basis. That has given me...
