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Tag: cash flow


Growth Matters – articles from Macquarie Relationship Banking – Legal

by on Nov.01, 2011, under Practice Management Services

Growth Matters Summary [Part One] (pdf)

As we emerge from the challenging conditions of recent times, growth is clearly on the agenda for legal practices. But growth for growth’s sake is not always a positive thing, and increasing revenue quickly can lead to cashflow pressures.

Growth Matters Summary (Part Two) (pdf)

How do you go about setting the right growth strategy for your firm? And what are the potential pitfalls to watch out for?

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Competitive legal landscape to change forever?

by on Dec.17, 2010, under Career Management Services, Practice Management Services

This article by George Beaton in the Australian is well worth reading: http://bit.ly/exit_plan

The change is well and truly on the way, and some of us are not only very keen to see it happen, we are already engaged in making it happen.

If you are wondering what to do or where to go with your firm, speak with me.  I have several ideas and suggestions worth considering.

Some smaller firms tend to wait until it is too late to consider an exit strategy or succession plan.  The reality is, no-one will buy your firm if you are not there.  Harsh but true.  Unlike other professional services firms where there is a high degree of continuing work, lawyers are often involved in transactional matters only, or providing advice on certain issues.  Once the problem has been resolved, the client’s work is over – where is the continuity in the business?

As I mentioned above, if you are wondering what to do or where to go with your firm, speak with me.  I have several ideas and suggestions worth considering.

Call me on 0407 236394.  There is no cost, other than your time, for a conversation.

It’s your future and I want to help.

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Succession Planning

by on Nov.17, 2010, under Practice Management Services

Wondering what to do with your business in the next five to ten years?  Need to look at moving your business into a bigger firm.

Having problems managing your firm and being a lawyer?

Call me; I have a number of options worth considering.  Obligation free and of course, discretion is paramount.  Just call me.

0407 236394

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Practice Management Fundamentals – Management Reports

by on Oct.27, 2010, under Practice Management Services

Keep track of your firm’s performance

Consider and review a set of fundamental management reports to gain insights into how your business can be more efficient and profitable.Whether you have a lawyer or non-lawyer running your business what ultimately matters is whether or not they have the appropriate skills to do so, and understand the core Practice Management Fundamentals.

Additionally, if you are an owner of a firm and have another person managing it for you, you should be aware of these fundamental business practices in order to ensure you know what is going on in your business. This paper touches on some key fundamentals that should not be ignored when running your business.

The paper can be found here:

http://www.lexisnexis.com.au/pdf/Whitepaper_PMSFundamentals.pdf

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