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#557: KPIs for Lawyers: Measuring Your Law Firm's Financial Health with Bernadette Harris

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Manage episode 480046495 series 87928
Inhalt bereitgestellt von Legal Talk Network. Alle Podcast-Inhalte, einschließlich Episoden, Grafiken und Podcast-Beschreibungen, werden direkt von Legal Talk Network oder seinem Podcast-Plattformpartner hochgeladen und bereitgestellt. Wenn Sie glauben, dass jemand Ihr urheberrechtlich geschütztes Werk ohne Ihre Erlaubnis nutzt, können Sie dem hier beschriebenen Verfahren folgen https://de.player.fm/legal.

Unlock a clearer view of your law firm's financial health in the latest Lawyerist Podcast. Join host Stephanie Everett as she dives into the essential key performance indicators (KPIs) that can transform how you understand your practice, guided by the expert insights of Bernadette Harris, Lawyerist Lab's finance coach.

You'll gain practical knowledge about five crucial areas that directly impact your firm's success. Understand your net profit margin like never before – not just the surface numbers, but the true profitability that informs your strategic decisions. Explore utilization rate and discover how to optimize your team's time for maximum productivity. Learn the critical importance of your realization rate and practical steps to ensure you're capturing the revenue you've earned. See how mastering AR aging can directly impact your cash flow and create financial stability. Plus, uncover the strategic advantage of understanding your revenue by practice area, empowering you to make smarter choices about your firm's financial future.

For straightforward, actionable insights into these vital financial indicators – the kind that can immediately help you manage your law firm more effectively – tune in to hear Bernadette Harris share her expertise.

Listen to our other episode with Bernadette Harris:

Have thoughts about today’s episode? Join the conversation on LinkedIn, Facebook, Instagram, and X!

If today's podcast resonates with you and you haven't read The Small Firm Roadmap Revisited yet, get the first chapter right now for free! Looking for help beyond the book? See if our coaching community is right for you.

Access more resources from Lawyerist at lawyerist.com.

Chapters:

(00:00) Introduction

(04:36) Diving into Key Performance Indicators (KPIs)

(06:38) Understanding Your Firm's Profitability: Net Profit Margin

(10:47) Optimizing Team Productivity: Utilization Rate

(15:51) Maximizing Revenue Collection: Realization Rate

(21:21) Improving Cash Flow: Managing AR Aging

(25:36) Strategic Insights: Revenue by Practice Area

(28:32) Working with a Financial Coach and a Special Announcement

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

2751 Episoden

Artwork
iconTeilen
 
Manage episode 480046495 series 87928
Inhalt bereitgestellt von Legal Talk Network. Alle Podcast-Inhalte, einschließlich Episoden, Grafiken und Podcast-Beschreibungen, werden direkt von Legal Talk Network oder seinem Podcast-Plattformpartner hochgeladen und bereitgestellt. Wenn Sie glauben, dass jemand Ihr urheberrechtlich geschütztes Werk ohne Ihre Erlaubnis nutzt, können Sie dem hier beschriebenen Verfahren folgen https://de.player.fm/legal.

Unlock a clearer view of your law firm's financial health in the latest Lawyerist Podcast. Join host Stephanie Everett as she dives into the essential key performance indicators (KPIs) that can transform how you understand your practice, guided by the expert insights of Bernadette Harris, Lawyerist Lab's finance coach.

You'll gain practical knowledge about five crucial areas that directly impact your firm's success. Understand your net profit margin like never before – not just the surface numbers, but the true profitability that informs your strategic decisions. Explore utilization rate and discover how to optimize your team's time for maximum productivity. Learn the critical importance of your realization rate and practical steps to ensure you're capturing the revenue you've earned. See how mastering AR aging can directly impact your cash flow and create financial stability. Plus, uncover the strategic advantage of understanding your revenue by practice area, empowering you to make smarter choices about your firm's financial future.

For straightforward, actionable insights into these vital financial indicators – the kind that can immediately help you manage your law firm more effectively – tune in to hear Bernadette Harris share her expertise.

Listen to our other episode with Bernadette Harris:

Have thoughts about today’s episode? Join the conversation on LinkedIn, Facebook, Instagram, and X!

If today's podcast resonates with you and you haven't read The Small Firm Roadmap Revisited yet, get the first chapter right now for free! Looking for help beyond the book? See if our coaching community is right for you.

Access more resources from Lawyerist at lawyerist.com.

Chapters:

(00:00) Introduction

(04:36) Diving into Key Performance Indicators (KPIs)

(06:38) Understanding Your Firm's Profitability: Net Profit Margin

(10:47) Optimizing Team Productivity: Utilization Rate

(15:51) Maximizing Revenue Collection: Realization Rate

(21:21) Improving Cash Flow: Managing AR Aging

(25:36) Strategic Insights: Revenue by Practice Area

(28:32) Working with a Financial Coach and a Special Announcement

Learn more about your ad choices. Visit megaphone.fm/adchoices

  continue reading

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