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SmallLaw: How to Reap The Benefits of Return on Investment Analysis Without Having to Hire a Management Consultant

By John Heckman

Originally published on October 4, 2010 in our free SmallLaw newsletter. Not so long ago, law schools regularly delivered a lecture for new students to the effect that the practice of law was a profession, not a business. Advertising was frowned upon (with severe restrictions imposed by many state bar associations). When Web sites arrived, a debate ensued over whether they constituted advertising. The practice of law today is clearly a business, not a profession. Small law firms must increasingly adapt to business rules if they want to survive. Below, in my first SmallLaw column, I'll tackle the critical issue of return on investment (ROI) analysis. The Two Pain Points in All Law Firms Many small law firms do not use ROI analysis. ROI can be very difficult to quantify (if you buy a new server, how do you calculate ROI?), but is not that difficult when it comes to specific types of productivity or lack thereof...continue to full post

Full post as published by TechnoLawyer Blog on October 11, 2010 (boomark / email).