Practice Management

Our Big Move

Posted on July 11, 2009
It will be a few more days until the movers come back with the rest of our furniture and this URL redirects you to our new site, but the rest of the bloggers and I have been busy so here's our new address: http://www.lexisnexis.com/Community/redwoodanalytics/blogs/morepartnerincome/default...

We're moving!

Posted on July 11, 2009
Our new home in the Redwood/LexisNexis communities is just about ready. We're putting on a fresh coat of paint and then we'll be ready to invite y'all over for a visit! Keep checking MorePartnerIncome.net - the URL, as well as all of the bloggers you love, will be moving with us! Registered users of the blog will also receive an email notification - so consider it your engraved invitation to come visit, even if you haven't seen us in a while...

Our Big Move

Posted on July 10, 2009
It will be a few more days until the movers come back with the rest of our furniture and this URL redirects you to our new site, but the rest of the bloggers and I have been busy so here's our new address: http://www.lexisnexis.com/Community/redwoodanalytics/blogs/morepartnerincome/default...

We're moving!

Posted on July 07, 2009
Our new home in the Redwood/LexisNexis communities is just about ready. We're putting on a fresh coat of paint and then we'll be ready to invite y'all over for a visit! Keep checking MorePartnerIncome.net - the URL, as well as all of the bloggers you love, will be moving with us! Registered users of the blog will also receive an email notification - so consider it your engraved invitation to come visit, even if you haven't seen us in a while...

To access this complete feed in the blog feed reader login or register for free.

How BI Deployment Can Be Like a Plane Crash

Posted on May 14, 2009
At Redwood, we know a lot about implementing Business Intelligence systems at law firms, as we've been involved in hundreds. We don't know much about plane crashes, but Malcolm Gladwell dedicates a whole chapter to them in his newest book, "Outliers: The Story of Success...

How BI Deployment Can Be Like a Plane Crash

Posted on May 06, 2009
At Redwood, we know a lot about implementing Business Intelligence systems at law firms, as we?ve been involved in hundreds. We don?t know much about plane crashes, but Malcolm Gladwell dedicates a whole chapter to them in his newest book, ?Outliers: The Story of Success...

Leaving it on the Table

Posted on May 02, 2009
I have a nasty little habit of tossing change down in random places in my home, office and car and subsequently losing it. All of my co-workers know that if they need change they can just dig around my desk drawers. Sometimes I find it later, sometimes I don't...

A Bright Spot Ahead for Firms

Posted on May 02, 2009
Despite the state of the economy, there might actually be a bright spot on the horizon for firms who are willing to creatively staff and plan matters, and use leverage to move work to lower cost attorneys located outside of the U.S. Please click the post title to continue reading at MorePartnerIncome...

Leaving it on the Table

Posted on May 01, 2009
I have a nasty little habit of tossing change down in random places in my home, office and car and subsequently losing it. All of my co-workers know that if they need change they can just dig around my desk drawers. Sometimes I find it later, sometimes I don?t...

A Bright Spot Ahead for Firms

Posted on April 28, 2009
Despite the state of the economy, there might actually be a bright spot on the horizon for firms who are willing to creatively staff and plan matters, and use leverage to move work to lower cost attorneys located outside of the U.S. Please click the post title to continue reading at MorePartnerIncome...

Law Firms Focusing on Collections Should Not Overlook Billing Practices

Posted on April 24, 2009
It is no shock that law firms, reacting to the current economy, are focusing on collections. Cash is still king. Collections push efforts have moved beyond the 4th quarter and are now equally important in all periods. Collection opportunities are analyzed, delinquent clients are squeezed, and write offs are scrutinized more than ever...

Part Two of Leverage: Friend or Foe

Posted on April 24, 2009
In Leverage: Friend or Foe of Maximized Profits per Partner I discussed an approach that a firm could use to address the dropping demand for legal work. In short, this approach suggested that a firm could reduce their supply of legal work to match current demand by cutting heads in its most junior ranks, the ranks that produce the lowest $PP contribution...

Martindale-Hubbell Connected Launches Networking for Lawyers

Posted on April 24, 2009
Social networking has evolved significantly from pressing the flesh at boring seminars and dinner events to the online world of LinkedIn and other such sites, and at LexisNexis we're proud to be a part of that world now. Today marks the launch of Martindale-Hubbell Connected...

LEVERAGE: Friend or Foe of Maximized Profits per Partner?

Posted on April 24, 2009
There has been a significant amount of debate on the subject of leverage over the past few weeks, and there appears to be some passion around the concept. Articles have attempted to show that it does not work, while others tout its value. My belief is that regardless of economic conditions, more leverage is better than less leverage if the end goal is generating the maximum possible Profit Per Partner ($PP)...

Too Good To Be True

Posted on April 24, 2009
Shortly after I graduated college I had just been dumped by college sweetheart, was not happy with my original career choice, and my billfold was getting smaller and smaller as the country was in a recession. Safe to say I was in a bit of a quarter-life crisis and my confidence was slightly south of nothing...

The Lost Measure: Cost of Capital - Stress Test Your Firm

Posted on April 24, 2009
When I started working with law firms in 1999, I used to have heated (and futile) debates about the importance of the time value of money in assessing firm (or practice, billing lawyer, etc.) performance. My argument was simple. Take the law firm business model to any venture capitalist and pitch them: "I have a great business for you...

RFP's: A Necessary Evil

Posted on April 24, 2009
As we're all aware, in today's economic climate there is a big focus on cost reduction. It's no surprise, then, that RFP's are being used with even greater frequency by purchasers of legal services. The concept is not new, but the extreme focus on price across a large percentage of those companies probably is...

Law Firms Focusing on Collections Should Not Overlook Billing Practices

Posted on April 15, 2009
It is no shock that law firms, reacting to the current economy, are focusing on collections. Cash is still king. Collections push efforts have moved beyond the 4th quarter and are now equally important in all periods. Collection opportunities are analyzed, delinquent clients are squeezed, and write offs are scrutinized more than ever...

Part Two of Leverage: Friend or Foe

Posted on April 14, 2009
In Leverage: Friend or Foe of Maximized Profits per Partner I discussed an approach that a firm could use to address the dropping demand for legal work. In short, this approach suggested that a firm could reduce their supply of legal work to match current demand by cutting heads in its most junior ranks, the ranks that produce the lowest $PP contribution...

Martindale-Hubbell Connected Launches Networking for Lawyers

Posted on March 31, 2009
Social networking has evolved significantly from pressing the flesh at boring seminars and dinner events to the online world of LinkedIn and other such sites, and at LexisNexis we?re proud to be a part of that world now. Today marks the launch of Martindale-Hubbell Connected...

LEVERAGE: Friend or Foe of Maximized Profits per Partner?

Posted on March 30, 2009
There has been a significant amount of debate on the subject of leverage over the past few weeks, and there appears to be some passion around the concept. Articles have attempted to show that it does not work, while others tout its value. My belief is that regardless of economic conditions, more leverage is better than less leverage if the end goal is generating the maximum possible Profit Per Partner ($PP)...

Too Good To Be True

Posted on March 24, 2009
Shortly after I graduated college I had just been dumped by college sweetheart, was not happy with my original career choice, and my billfold was getting smaller and smaller as the country was in a recession. Safe to say I was in a bit of a quarter-life crisis and my confidence was slightly south of nothing...

The Lost Measure: Cost of Capital ? Stress Test Your Firm

Posted on March 10, 2009
When I started working with law firms in 1999, I used to have heated (and futile) debates about the importance of the time value of money in assessing firm (or practice, billing lawyer, etc.) performance. My argument was simple. Take the law firm business model to any venture capitalist and pitch them: ?I have a great business for you...

RFP?s: A Necessary Evil

Posted on March 09, 2009
As we?re all aware, in today?s economic climate there is a big focus on cost reduction. It?s no surprise, then, that RFP?s are being used with even greater frequency by purchasers of legal services. The concept is not new, but the extreme focus on price across a large percentage of those companies probably is...

RFP's: A Necessary Evil

Posted on March 06, 2009
As we?re all aware, in today?s economic climate there is a big focus on cost reduction. It?s no surprise, then, that RFP?s are being used with even greater frequency by purchasers of legal services. The concept is not new, but the extreme focus on price across a large percentage of those companies probably is...

Closing the Barn Door

Posted on March 05, 2009

Strategic Leverage: Just as Important as Ever

Posted on February 25, 2009
It is part of my job to make sure I am up to speed on all the economic movements of firms here and abroad as this economic downturn has not trickled down but headed full- fledged into the legal industry. Each day I read article after article about associate and staff layoffs at firms of various sizes and peer status...

A Different 2011 Scenario: Leverage Expands

Posted on February 20, 2009
Over at the AmLawDaily, Paul Lippe recently caught our attention here at Redwood Analytics with his sensational headline, (“Welcome to the Future: The 2011 Scenario and the End of Leverage,”) but we’re having trouble connecting the dots to get to Mr...

Merit Based Systems?

Posted on February 19, 2009
The recent  NYT article, “Chill of Salary Freezes Reaches Top Law Firms”, once again highlights that the recession is causing many firms to rethink their compensation structure. In the short term that means freezing salaries. “There is this sense that firms didn’t act prudently during the boom and now they are getting religion, and that it’s better [...

Watch This Space

Posted on February 19, 2009
Keep watching MorePartnerIncome.net, now sponsored by Redwood Analytics as part of LexixNexis, as we bring you more of the thoughtful content you've come to expect on the financial management of the law firm.  We welcome your comments and ideas, and look forward to offering insightful financial management techniques and business practices for law firms...

Bloggers, promote your law blog by nominating your blog for inclusion in USLaw.com's Law Blog Directory and RSS Reader. Benefits described.