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Law Firm Management

 

A major problem facing many law firms is the lack of long range focus and the amount of partner time that is being spent on administrative issues as opposed to higher level management issues. Time spent in firm management, if properly controlled, is as valuable as, if not more valuable, than the same time recorded as a billable hour.

Law offices often need to take additional steps to ensure their success. The biggest obstacle that legal professionals face in their careers is disorder within their practices. The solution is implementing law office management practices in their firms to keep them organized and on top of the business elements of the law.

Partners and law firm owners should be focusing their time on the management issues rather than administration.
Management includes:

  • Productive activities, including those of individual lawyers and the firm as a whole.
  • Quantity, quality, and economic soundness of the work.
  • Development of lawyers and future leaders of the firm.
  • Formulation of policies that will determine the firm’s character
  • Financial planning, both short-term and long-range.
  • Marketing and business development.
  • Partner compensation and profit distribution systems
  • Other decisions requiring partner approval