Hi, Finance – February 2021

Hi, Finance – February 2021

“Our issue is, very simply, that we should be making more money than we are, given what I see going on within the business. How do I turn this around?” This problem, or variations of it, is something that I hear almost every week.  It goes something along the lines of...
The “R” Rate for law firm growth

The “R” Rate for law firm growth

Since March 2020, we have become familiar with the “R” rate, which tells us whether the rate of infection for Covid-19 is increasing or decreasing. When “R” is greater than one, each infected person is infecting at least on other person and the rate of infection...
Cost-cutting – you might be getting it wrong

Cost-cutting – you might be getting it wrong

When business slows down or stops and the cash correspondingly also slows down, it is natural – and right – to reduce expenditure.  The manager’s job is to manage, not be overtaken by events by failing to respond.  Action should certainly be taken and some idea of the...
Making a success of succession planning

Making a success of succession planning

Law firms have a problem.  There are too many owners that want to retire and too few people that are interested in taking over their business or share of their business and paying them out, so that they can do so. If you are a partner or owner looking to retire soon,...