by Richard Wyatt | 9 Oct 2022 | Our Insights
In my time advising and helping manage law firms, I have twice been asked the question: “What is the single most important factor in making law firms profitable”? Both times I was asked by a firm’s Managing Partner, so it was clearly important to them and equally...
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 | 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...
