Have you ever re-financed your house and taken out $60,000… just to keep the doors open and the lights on? How about maxing out every line of credit in your name — and your credit cards too? Have you applied for a credit card with a $900 limit… just to take a cash advance, max out the card and put all the money in the bank just to cover payroll?
Does this sound familiar to you? Too many attorneys around the country are having this exact experience. In law school we are taught about TROs and the FCRP — but not about ROI or WIPs. In this CLE, Brooke Lively will show you how to make data driven decisions so you can efficiently manage your practice & team and run a profitable law firm. Four key areas are discussed: using data driven decisions to run your firm, the six key metrics to monitor progress, tracking the work production of your attorneys and improving collection rates. Brooke also addresses using WIP (Work In Progress) Reports, managing your attorneys, staff capacity vs. utilization, setting billing goals, decreasing turnover, billing grids, initial & evergreen retainers and using fee agreements.
The Founder & President of Cathedral Capital, Brooke Lively specializes in helping attorneys turn their law firms into profitable businesses. An expert in law firm management & profitability, she is the author of the 6 Key Numbers book series.