In part one of this series, we discussed the first two pillars of year-end financial planning for law firms: reviewing the current year’s performance and projecting the next year’s revenue. In this article, we discuss the remaining two.

Pillar #3—Goal Setting and Budgeting Based on Revenue Projections

After a firm’s leaders have created or revised projection models to estimate the revenue their matters will generate in the coming year and when their firm will receive that revenue, they can begin setting financial and performance goals for that year.