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More Partner Income 
Dedicated to ideas and techniques for the financial management of the law firm with the objective of increasing the income of equity partners.
Post Frequency: 0.9/day Last Entry: July 11, 2009 at 00:20:01 Recent Entries: 202
Go to More Partner Income, find other Practice Management blogs, or browse all law blogs.
Law Firm PEPP "Bubble" To Burst?
Posted on May 12, 2008Since 2000, law firm PEPP (profits per equity partner) have increased on average 11% for Amlaw 100 firms and 8% for Amlaw 200 firms. Some observers fear that, like other markets that have sustained growth periods at or near double digits in the past 10 years, the law firm partner ...
Partner Cost and Client Profitability (Part II)
Posted on May 12, 2008This is the second in a series on partner compensation and client profitability written by Ron Paquette, consultant with Redwood Analytics, now part of LexisNexis. The first article, titled Client Profitability: What Is The Cost Of Partner Time?, was an introduction to the concept of allocating partner cost in calculating client ...
Survey Targets Business Development In Law Firms
Posted on May 12, 2008ALM Research recently released the 2008 Law Firm Business Development Practices Survey, which targets two "tiers" of law firms: those listed in the AmLaw 200, The Global 100, and the NLJ 250 (Tier 1) and those not listed (Tier 2). Though the survey is mostly focused on large firms, the average number ...
Client Profitability: What Is The Cost Of Partner Time?
Posted on May 12, 2008The following is the first in a series of posts on compensation written by Ron Paquette, an analyst with Redwood Analytics, now part of LexisNexis. Ron is a new contributor to the blog who we hope will write regularly. Most law firms want to evaluate client and matter profitability...
Measuring Your Law Firm's Billing Cycle
Posted on May 12, 2008One of the observations in the 2007 Law Firm Economic Survey by LexisNexis and a focus of the 2008 Survey (in progress) relates to cash flow. According to the 2007 Survey, all firms had a slow billing cycle. On average it took firms 170 days from providing a service to ...
The Science Behind Pricing
Posted on May 12, 2008The April 2008 Scientific American contains an article titled Why Things Cost $19.95: What Are The Psychological "Rules" Of Bartering? (hat tip: Matthew Homann, in his blog the [non]billable hour). The article explains the effects that initial pricing has on a potential buyer based on a series of tests...
Law Firm PEPP "Bubble" To Burst?
Posted on May 09, 2008Since 2000, law firm PEPP (profits per equity partner) have increased on average 11% for Amlaw 100 firms and 8% for Amlaw 200 firms. Some observers fear that, like other markets that have sustained growth periods at or near double digits in the past 10 years, the law firm partner profit "bubble" may soon burst [...
Partner Cost and Client Profitability (Part II)
Posted on May 06, 2008This is the second in a series on partner compensation and client profitability written by Ron Paquette, consultant with Redwood Analytics, now part of LexisNexis. The first article, titled Client Profitability: What Is The Cost Of Partner Time?, was an introduction to the concept of allocating partner cost in calculating client profitability...
Survey Targets Business Development In Law Firms
Posted on May 02, 2008ALM Research recently released the 2008 Law Firm Business Development Practices Survey, which targets two "tiers" of law firms: those listed in the AmLaw 200, The Global 100, and the NLJ 250 (Tier 1) and those not listed (Tier 2). Though the survey is mostly focused on large firms, the average number of attorneys for Tier 2 [...
Client Profitability: What Is The Cost Of Partner Time?
Posted on April 29, 2008The following is the first in a series of posts on compensation written by Ron Paquette, an analyst with Redwood Analytics, now part of LexisNexis. Ron is a new contributor to the blog who we hope will write regularly. Most law firms want to evaluate client and matter profitability...
Measuring Your Law Firm's Billing Cycle
Posted on April 25, 2008One of the observations in the 2007 Law Firm Economic Survey by LexisNexis and a focus of the 2008 Survey (in progress) relates to cash flow. According to the 2007 Survey, all firms had a slow billing cycle. On average it took firms 170 days from providing a service to collecting payment on it...
The Science Behind Pricing
Posted on April 22, 2008The April 2008 Scientific American contains an article titled Why Things Cost $19.95: What Are The Psychological "Rules" Of Bartering? (hat tip: Matthew Homann, in his blog the [non]billable hour). The article explains the effects that initial pricing has on a potential buyer based on a series of tests...
The End of Generally Accepted Accounting Principles?
Posted on April 21, 2008In the April, 2008 issue of CFO magazine, the cover story reads: "Goodbye GAAP: It's Time To Prepare For the Arrival Of International Accounting Standards". These international standards, called the International Financial Reporting Standards (IFRS), are being sought to replace generally accepted accounting principles (GAAP), an evolving set of accounting ...
How To Compensate A Rainmaking/Investor "Muted" Partner?
Posted on April 21, 2008A reader emailed me with a question related to the compensation of a non-practicing equity partner whose responsibilities include only the investment of capital in the firm and bringing in new clients. The firm has a niche practice and is looking to expand...
The American Airlines Fiasco And Customer Service
Posted on April 21, 2008As I sat in a terminal in Chicago O'Hare after a week of ridiculous delays and cancellations, I finally believed I was almost home. Instead it was dripping water for the forehead, dirty carpet for a bed. This week was a long travel week for me, as I had presentations to ...
Alan Greenspan Versus The World - The Debate Matters To Law Firms
Posted on April 21, 2008There are differences in opinion on regulation of financial markets. On the one hand, Alan Greenspan takes a mostly hands-off approach to financial markets, except when risks to the economy appear. Martin Wolf, among others, have criticised Mr. Greenspan for his policies that they believe contributed, even caused, the current credit ...
Cash Flow An Important Metric For Law Firms
Posted on April 21, 2008No matter how much you work, until you convert it to cash it is worthless. The average days in the law firm cash flow cycle (from worked to collected) is 169 (source: 2007 Law Firm Economic Survey from LexisNexis). Shortening your cash flow cycle has a positive impact to liquidity and thus ...
Discounting At Law Firms
Posted on April 21, 2008I received an email from Brendon Carr, foreign legal consultant and host of the Korea Law Blog, regarding a recent post of his, ?I Don?t Care What You Charge; Whatever It Is, It?s 15% Too Much?. The post discusses a request from a new client for an across-the-board 15% discount ...
Large Law Firm Focuses Resources On Measuring Performance
Posted on April 21, 2008In the February, 2008 Managing Partner Magazine, a case study was published regarding the international firm Herbert Smith, who recently implemented a financial management system that focused on measuring performance. The case study mimics everything we promote on More Partner Income and thus deserves highlight...
Business Development Opportunities For Law Firms In 2008
Posted on April 21, 2008An article in the Tampa Tribune (hat tip: Estrin Report) reports that foreclosures are so high in some areas that firms are hiring as many as 200 additional staff to handle the workload. Foreclosures in Hillsborough County, Florida in February more than doubled the amount from February 2007 and is ...
Law Firms Pass On Arbitration In Employment Disputes
Posted on April 21, 2008In an article for the upcoming issue of the National Law Journal (NLJ) posted yesterday on their site, law firms are not taking their own advice when it comes to arbitration clauses in employment disputes. Is this a case of what's good for the goose isn't good for the gander? Why ...
9 "Sure Bets For The Future" Attorneys Should Watch
Posted on April 21, 2008Nothing in the future is certain, except taxes, death, and that the world will implode from global warming or some other threat that replaces it. That notwithstanding, Harvard Business Online is boldly proclaiming 9 "sure bets for the future": 1. The Almighty Dollar will share its throne with an Omnipotent Euro...
The End of Generally Accepted Accounting Practices?
Posted on April 18, 2008In the April, 2008 issue of CFO magazine, the cover story reads: "Goodbye GAAP: It's Time To Prepare For the Arrival Of International Accounting Standards". These international standards, called the International Financial Reporting Standards (IFRS), are being sought to replace generally accepted accounting practices (GAAP), an evolving set of accounting standards in the US since [...
How To Compensate A Rainmaking/Investor "Muted" Partner?
Posted on April 15, 2008A reader emailed me with a question related to the compensation of a non-practicing equity partner whose responsibilities include only the investment of capital in the firm and bringing in new clients. The firm has a niche practice and is looking to expand...
The American Airlines Fiasco And Customer Service
Posted on April 14, 2008As I sat in a terminal in Chicago O'Hare after a week of ridiculous delays and cancellations, I finally believed I was almost home. Instead it was dripping water for the forehead, dirty carpet for a bed. This week was a long travel week for me, as I had presentations to give in Chicago, Dallas and [...
Alan Greenspan Versus The World - The Debate Matters To Law Firms
Posted on April 11, 2008There are differences in opinion on regulation of financial markets. On the one hand, Alan Greenspan takes a mostly hands-off approach to financial markets, except when risks to the economy appear. Martin Wolf, among others, have criticised Mr...
Cash Flow An Important Metric For Law Firms
Posted on April 10, 2008No matter how much you work, until you convert it to cash it is worthless. The average days in the law firm cash flow cycle (from worked to collected) is 169 (source: 2007 Law Firm Economic Survey from LexisNexis). Shortening your cash flow cycle has a positive impact to liquidity and thus your cash flow cycle should [...
Discounting At Law Firms
Posted on April 09, 2008I received an email from Brendon Carr, foreign legal consultant and host of the Korea Law Blog, regarding a recent post of his, “I Don’t Care What You Charge; Whatever It Is, It’s 15% Too Much”. The post discusses a request from a new client for an across-the-board 15% discount for his services...
Large Law Firm Focuses Resources On Measuring Performance
Posted on April 08, 2008In the February, 2008 Managing Partner Magazine, a case study was published regarding the international firm Herbert Smith, who recently implemented a financial management system that focused on measuring performance. The case study mimics everything we promote on More Partner Income and thus deserves highlight...
Business Development Opportunities For Law Firms In 2008
Posted on April 07, 2008An article in the Tampa Tribune (hat tip: Estrin Report) reports that foreclosures are so high in some areas that firms are hiring as many as 200 additional staff to handle the workload. Foreclosures in Hillsborough County, Florida in February more than doubled the amount from February 2007 and is more than 5 times the [...
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Where can we go from this point and how should we approach it?
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How to split marital assets in a divorce whose ownership is shared by other parties?
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