Market Areas > Practice Management >Law Firm Profitabilty

Law Firm Profitability in the New Normal

Course Description:

Profitability should be pretty straight forward… revenue minus expenses equals profit. While it sounds simple, the path to profitability for law firms in the new normal is anything but clear.

In order to accurately measure and increase profitability, firms must understand client value, pricing, and loyalty factors and figures that go far beyond simple calculations.

In fact, for the first time in the modern era, clients are in charge – and there’s a fundamental shift in the association between client and firm, as well as a redefinition of the successful law firm business model.  

CoursE highlights:

During this comprehensive audio conference our expert faculty will present practical strategies to help your firm maximize profitability in the new normal, including how to: 

• Better understand which profitability efforts matter most today
• Analyze and define the clients who account for most of your revenue, and create a plan around these crucial players
• Define methods that will bring in similar profit building clients
• Breed client loyalty by cross advising and selling
• Be aware of the inherent issues surrounding growth strategies based on client discounts
• Understand the impact of client pricing pressures and alternative fees
• Define the role that management and partners play in increasing efficiency and profits
• Monitor results against  plan and improve profitable behavior across the firm

FACulty:

Derek Schutz, Director of Progams, Redwood Analytics/LexisNexis

Derek Schutz is the Director of Progams with Redwood Analytics/LexisNexis.   He spends most of his time helping clients better understand their firm's operations and profitability through the use of Business Intelligence and developing solutions to improve their performance.  Prior to joining Redwood, Derek worked as a Financial Analyst in the construction industry and as a Professional Hockey Player.  Derek attended Virginia Commonwealth University and has a B.S. in Business Administration/Finance.

Tea Hoffmann, Chief Business Development Officer, Baker, Donelson, Bearman, Caldwell & Berkowitz, PC

Tea Hoffmann is Chief Business Development Officer for Baker Donelson, where she oversees a team of more than twenty professionals in the Marketing and Business Development Department.

Ms. Hoffmann oversaw a significant reorganization of the Marketing and Business Development department in 2008. The result was a multi-faceted team focused on strategic partnership with attorneys, which has ultimately brought the Firm's practice groups, industry teams and departments measurable results.

Ms. Hoffmann earned her law degree in 1988 and joined a Nashville firm where she practiced business litigation, entertainment and IP law. She then became in-house counsel for Private Business, a company providing financial software and business development support to banks, and was promoted to General Counsel in 1995. She was instrumental in taking the company public in 1999.

In 2001, Ms. Hoffmann left Private Business to create Legal Training Group. Over the next five years, she spoke to thousands of attorneys nationwide, producing training programs and consulting with more than 50 law firms throughout the United States on client development and retention, time management and practice management. Ms. Hoffmann joined Baker Donelson in 2006 and quickly rose to the position of Chief Business Development Officer.

MONEY-BACK GUARANTEE:

We're so confident you'll get what you want out of this conference that we'll refund every penny if you're not completely satisfied. No questions asked! It's 100% risk-free!

Pricing:

Unable to Attend?  Order the CD!

Your CD recording includes the complete audio conference presentation, audience Q&A and presentation materials.

Each CCM event presents a variety of information and is presented for each organization to develop its own approach and methodology.