Developing and Maintaining a Profitable Private Client Practice 2nd Edition

Improve efficiency, profitability, customer service and marketing success

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Here are just a few things being said about Managing Partner’s report, Developing and Maintaining a Profitable Private Client Practice, second edition:

“…a very practical, hands-on guide for those practitioners who are serious about survival, growth and competing to win in tough markets.” John R Thomas, CEO, LawNet

“…essential reading for owners and managers of firms that wish to remain independent and viable in the new competitive era.” Chris Marston, Head of Professional Practices, Lloyds TSB Commercial  

“…compulsory reading for all those owning or thinking of owning a law firm.” Shaun Jardine, Partner, Brethertons LLP

If you’re serious about ensuring the success of your private client practice in the new legal market, this proactive guide has the critical tools, advice and support that you need.

Step-by-step, Developing and Maintaining a Profitable Private Client Practice will guide you through the process of developing a comprehensive management strategy for your firm, providing key action points along the way that will define your approach to:

  • Business development;
  • People management;
  • Client care;
  • Financial planning;
  • Strategy development;
  • Succession planning; and
  • Exit strategies for the owners.

It demonstrates how to recruit, retain and motivate the best people for your firm with a focus on achieving high levels of performance to improve the overall experience of your clients.

Practical pointers are also provided on effective cash management practices, including how to guarantee cash flow, formulate credit control and time recording policies, introduce the use of credit card payments and create a solid financial base for your firm.

Other key topics discussed include:

  • Measurement of marketing spend, risk management and IT;
  • Raising profile and reducing wastage in your marketing spend;
  • Considering business strategies - franchise, license or become virtual?
  • Creating a policy for growth by acquisition;
  • Thirteen important lessons when contemplating a merger;
  • Using social media as a marketing tool;
  • New ways of generating work and managing the process;
  • Outcomes-focused regulation and the role of the COLP and COFA;
  • Tips for reviewing your firm’s approach to alternative business structures; and much more…

Developing and Maintaining a Profitable Private Client Practice, second edition provides sound management advice and innovative ideas to grow your practice.

“Solicitors have in the past been accused of complacency, but many are now aware of the need for guidance and support, and that is what this book provides.” Stuart Bushell, Director, SIFA Legal, former director at the Law Society and the Solicitors Regulation Authority.

Contents

Chapter 1: Changes sweeping the UK legal services market

Chapter 2: Planning your firm’s strategy

Chapter 3: Practice and financial management

Chapter 4: Managing people in your firm

Chapter 5: Law firm finance – Strategic considerations

Chapter 6: Restructuring your practice and growing by acquisition

Chapter 7: Offering excellent client care

Chapter 8: Independent, franchise or become virtual?

Chapter 9: Marketing the law firm

Chapter 10: New ways of generating work and managing the process

Chapter 11: Outcomes focused regulation – The regulatory aspects of law firm management.

Chapter 12: The impact of alternative business structures

Check our Executive Summary and full table of contents here

Authors

Viv Williams
Viv Williams is chief executive officer of 360 Legal Group, and is a consultant to law firms on management, practice development, and marketing. Viv is also non-executive chairman of software specialists Ochresoft Technologies Ltd. During a career spanning 20 years in marketing, and as managing director of two floated Plc companies, Viv has been able to provide practical management insight for all businesses, including professional services firms. Combining this with his time working at Hammonds and Charter & Law Group, assisting solicitors and accountants to improve their management systems and marketing and increase profitability, Viv cultivated the necessary experience to become managing partner at the 2020 Lawyers Group (now 360 Legal Group) in 2003, offering law firms marketing, management, and strategy skills, as well as innovative ideas to transform their law practices into successful businesses. Viv has written numerous articles for the legal press and writes a monthly blog for the Law Society Gazette, as well as being the key note speaker at numerous conferences and seminars. Viv firmly believes that now is the time for law firms to grasp the challenges and opportunities presented by the Legal Services Act and alternative business structures, as well as by the pressure of the continuing credit crisis. 360 Legal Group provides solutions to those law firms which are prepared to rise to the current challenges and become the modern firms of the future. It provides change management support and advises law firms which are looking to buy, sell, or merge their practices. For more information, visit the 360 Legal Group, or contact Viv via email.

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