Description

This introductory and practical webinar will provide an overview for small to medium law firms. Despite being introductory, the webinar covers 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”. We will look at:

• The relationship between the service-oriented professional and the need for profit… why is profit so critical irrespective of the perceived weight given to it by each Principal, Manager, or other team member…
• 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 profits…
• Examples of how clients can be/must be looked after exceptionally well while being charged fair, reasonable and proportionate fees that will underpin proper profitability for the firm…
• What the critical issues are… and why…
• Getting and keeping the right clients…
• Getting productivity and efficiency right…
• Effective relationship-enhancing, profit-protecting, disclosure on fees…
• Planning/Budgeting…
• Credit Control and Cash Flow…
• Pricing alternatives, confidence and smart psychology…” horses for courses”…
• 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. It was described by a previous attendee as, “The best/most useful/thought-provoking webinar I’ve been in for a long while”!

ORIGINAL BROADCAST DATE

14 March 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.

SUITED TO

Legal Profession - Small and Medium-size firms. Principals, aspiring Principals, Solicitors, and all levels of Manager.

PRESENTER

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

To view Part 2 of this series please click here