Thursday, September 10, 2020

Law Firms How Can You Increase Revenue By 15%

Developing the Next Generation of Rainmakers Law Firms: How Can You Increase Revenue by 15%? How can you increase your revenue by 15% and what would be the impact on your bottom line? Seth Godin wrote a blog five years ago:  15% changes everything. He said: When a technology company increases its sales by 15%, profits will double. I donĂ¢€™t know if it would be that dramatic for a law firm, but I do know that once fixed overhead is covered, profits rise at a far greater rate. When I practiced law, if I had brought up this idea, our firm leaders would have sent a memo instructing our lawyers to raise their rates by 15%. They may have also demanded more hours from partners and associates. Just suppose that instead of raising rates or demanding more hours, your firm created a plan to increase client satisfaction. What would be the 10 things you would do? I practiced law for 37 years developing a national construction law practice representing some of the top highway and transportation construction contractors in the US.

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.