Law Firm Profits

How do you design compensation plans that are good for your law firm and the new hire? Follow the wise counsel of the rule of thirds. Compensation plans have become a hot topic as competition increases for good attorneys. Yet here’s the problem: ...

Product Spotlight | Whether you work for a large firm or you run your own private practice, getting your legal billing right is crucial. Keep this list from LawPay handy to ensure your bills are as client-friendly as possible.

Brooke Lively | When was the last time you reviewed your firm's organizational structure — and challenged the status quo?

The 2019 Orion Collections Survey asked law firms their No. 1 collections challenge and collected these tips for getting paid.

Most small and solo law firms are working with financial statements that don’t give them the information they need to make informed business decisions. Here's a sample P&L for a law firm that looks like what I typically see.

Lawyer work-life balance: Why Lawyers Really Struggle. Key Takeaways Link Christin recently posted a fine article titled “Shoot for a Realistic Work-Life Balance.” While he does a nice job presenting practical steps you can take right now, ...

Advice on setting your annual billable rate increase — and how to tell your clients.

Brooke Lively | Consider rolling out a new bonus structure designed for the greater good of the entire firm.

Brooke Lively | Here are the two most important factors that determine your firm's value — if you want to sell.

Camille Stell | Tips for tidying up your practice and conducting a comprehensive financial review.