Legal Research

"5 Ways to Increase Your Firm's Revenue Now"

This post was written by Cordell Parvin: "It was late fall 2001. The internet bubble had burst. A stock I owned that had traded at a record $130 per share was on it way to single digits where it remains today. I foolishly bought shares all the way down.

I remember a conversation with our law firm's financial officer. He told me and a member of our board that based on hours the lawyers were producing, we had 38 lawyers more than we had work available for them to do. Each month that fall, our firm leaders found other ways for us to cut expenses, I tried to suggest we focus on increasing revenue, but my suggestion was never considered.

Think about your own firm. Whether it is a very large firm or only 3-4 lawyers, what would happen if you were able to increase revenue by 15%. I thought of this idea again when I read Seth Godin's recent blog post 15% Changes Everything. In a law firm, a 15% decline in revenue or a 15% increase in revenue really does change everything.

How can your firm increase revenue by 15%?"

Learn how by clicking on the author's name above.

Source: Law Consulting Blog, 9 August 2010. © 2010, Cordell Parvin LLC. Reproduced with permission of the author.

Full post as published by Stark County Law Library Blawg on August 11, 2010 (boomark / email).