Part II: Key Metrics to Review for Profitability We are closing out 2022 with blogs to focus on measures to track profitability. We talked about reports to prepare for 2023 in our last blog. Now let’s talk about some key metrics to have in place for 2023 and review on a regular basis. Understanding which …
Is 2023 going to be a profitable year? Key Metrics to Track Part One: Law Firms Are Profitable. Is your firm? Let’s set the stage with a very positive image: Law firm businesses are very profitable businesses. According to an IBISWorld article in 2022, law firms ranked in the Top 10 most profitable industries, seeing a 1.5% …
This summer, we’ll be focusing on the tools you need to know when it comes to determining your firm’s profitability. As a practice owner or managing partner, it’s easy to get into a routine for handling your business processes. These tools can help you evaluate whether your routines and SOPs are boosting your profitability or …
