Description

This practical webinar which follows on from part 1 will dig deeper into key issues affecting profitability for small to medium law firms. The introductory level webinar covered what previous attendees described as, “A whole lot of good material. A lot of food for thought”, with “Good examples to back up Rob’s points”.

In this advanced presentation we will look at:

• Various aspects of the importance of financial health of the practice to all stakeholders...
• Reality Check to set the context…clear explanation of how poor typical profits are currently…
• Exactly how good revenues need to be, relative to expenses, to create even basically acceptable (and necessary) profits…
• A deep dive into what the critical issues are… and why…
• How to get & keep the right clients…
• Getting productivity and efficiency right…
• Genuinely effective disclosure on fees…
• Planning/Budgeting…
• Serious Credit Control and Cash Flow…
• Pricing alternatives, confidence and smart psychology…
• Performance Review/Career Development/Remuneration… key do’s and don’ts… especially the immense damage caused to proper profits by pursuing the “One-Third/One-Third/One-Third“ myth…

This webinar is presented by Rob Knowsley, Managing Director-Principal, Knowsley Management Services, in conjunction with CCH Learning. An Introductory version of the webinar was described by an attendee as, “The best/most useful/thought-provoking webinar I’ve been in for a long while”!

ORIGINAL BROADCAST DATE

23 May 2024

LEARNING OUTCOMES

Freshly focused understanding of the wide benefits of financial health in the small-medium practice, and what reasonable profit in the small to medium law firm should look like. How to go about ensuring the key elements are consistently properly dealt with to ensure proper profit returns from a well-run practice, after proper commercial salaries of working owners are considered. Attendees will have a significantly improved understanding of * why so many small-medium law firms struggle to develop and grow while being fully professional, * why financial health is so important to clients and other stakeholders, and * key approaches to getting the balance right.

SUITED TO

Legal Profession...all levels of owner, manager and lawyer with aspirations to make their practices more businesslike and financially healthy fully underpinning the professionalism desired, and expected and valued by clients.

PRESENTER

Rob Knowsley LLB, Managing Director-Principal, Knowsley Management Services.