When managing partners and members of law firm management committees start talking about increasing firm income, one of the first things they think of is reducing overhead. But some of the most profitable law firms have found that cost cutting is not the only way to improve the firm’s cash position.
By identifying the major factors that impact directly and indirectly on the generation of gross receipts, a firm can change practices that adversely affect firm revenue, and thereby increase income. One or more of the following 10 factors could be inhibiting profitability at your firm.
