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.
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 structuresCheck our Executive Summary and full table of contents here