|Short, intensive half-day training sessions and group exercises can go a long way towards giving lawyers at your firm a shared vocabulary and assumptions, set of priorities, and agreed-upon action items.|
Opportunity Assessment Boot Camps
Coming out of this half day workshop, you’ll have a very good sense of your firm’s or practice area’s priorities for growth, investment (and divestment)—and action plans for each priority. You’ll be well on your way to having a focused plan that aligns with your strategies and business goals, one that you can begin implementing immediately.
The workshop is a highly structured program, facilitated by Janet Stanton and Bruce MacEwen, where key stakeholders at your firm or practice area participate and reach consensus by evaluating and ranking priorities and then developing and agreeing to specific action items for the top priorities. It is a very effective and efficient program to achieve alignment and buy-in for programs that will improve performance, market visibility, and competitiveness.
This format can also work in a variety of situations where there is a need to prioritize and build strong consensus around a manageable group of strategically important initiatives—be it for the firm’s overall strategic plan, motivating compensation structures, innovation programs, etc.
“Financials for Lawyers” workshop – Build your financial acumen
It’s not surprising that many lawyers are in the dark about law firm finances, since this is rarely a part of traditional law school curricula. Our half day workshop provides a basic grounding in how law firms earn money and turn a profit—and why strong performance on those critical economic measures are absolutely essential to lawyers’ future professional success and the long-term sustainability of the firm. Our workshop enables lawyers to:
- Be more savvy about the impact of various pricing, staffing and billing practices;
- Approach their careers with more awareness of what’s expected of them;
- Make a connection between their daily work and the firm’s strategic goals;
- Appreciate the firm’s business decisions; and
- Understand what drives the metrics by which they’ll be evaluated,
all with the goal of making them more valuable to the firm more rapidly, and over time.
Topics covered are almost exclusively financial, including:
- The fundamentals of financial reporting: Income statements (P&L’s), balance sheets, and cash flows;
- Billing rates, annual hourly expectations, and alternative or “value” billing;
- Utilization and realization rates, including write-offs; and
- What goes into calculating a P&L by office, by practice group, or by client.