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Profitability

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I highly recommend the MPF Leadership Conference. I’ve participated many times, as have several of my partners. We leave with new ideas and fresh perspectives every time.

~ Jason Waguespack, Esq.

Jason P. Waguespack, Esq.
Galloway – New Orleans, LA

I look forward to this Conference every year. It really helps me to be a more effective firm leader.

The MPIEs are interesting, informative and useful!

The Conference was terrific, as it exposed me to many issues facing my firm.

The attendees were excellent, and they were very open to candid discussion.

A very organized and well-run conference. Great food. Great hospitality.

A very informative conference with lots of fresh ideas and perspectives.

The benchmarking data presented during the opening session is fantastic. Our MPIE facilitator was great!

As always, The MPF Conference is a very enjoyable and worthwhile experience.

~ Gerry Riskin

Gerry Riskin
Edge International – Anguilla, BWI

Thank you for allowing me to participate. Your team is masterful at making all feel valued at your event and I dare say helping attendees see the value in attending.

Thank you for the invite to speak on the Managing Partner panel. Even though I have now attended 7 MPFs, I always bring back substantive and helpful information for my partners.

From my perspective, the conference went extremely well. Thank you for inviting me to participate; I was proud to be part of a very talented faculty. Congratulations to all!

Many thanks. Always a pleasure and an honor.

Thanks for partnering with us from the ABA Law Practice Division. Very well organized. Your team knows precisely what they are doing and we appreciate you.

Was looking over some old MPF materials and recalled how great this event is.  Wanted to thank you all again. I really enjoyed it.

Hands down the best leadership conference for managing partners I’ve ever attended.

It was indeed a very well run and informative conference. I especially enjoyed meeting the participants and other faculty and learning from them. Thank you, John, for giving me the opportunity to participate.

MPF is a great conference, with excellent interaction among peers.

I very much enjoyed The Managing Partner Forum and thank you for putting on such a great program. I’m planning to attend again next year.

Our new managing partner, Wynn Shuford, attended your conference last month and has raved about it ever since. Thanks for your continued great work in the area of law firm leadership.

The conference was tremendous and I've already made tentative plans to attend next year's event. I've also reached out to other firm leaders I know to let them know the advantages of the Managing Partner Forum. Thank you.

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John J. Michalik
Former Exec Director, Association of Legal Administrators – Chicago, IL

Many thanks for inviting me to be a part of this great program! I thought it was outstanding and was honored to be part of it.

Thank you so much for such a wonderful conference. It was invaluable, and I am already looking forward to next year.

I've attended two events through John's Managing Partner Forum. They are always of high quality, and provide invaluable information that is useful to our firm.

It's a great format overall, and the MPIEs provide a fabulous exchange for ideas and perspectives.

The MPF provides a very consistent and solid program.

This is a fantastic conference with great topics and great people. The sharing of ideas and information among managing partners is invaluable.

An excellent program and overall very valuable experience. Bright participants, terrific discussions and outstanding statistics. I’ll be back.

MPF provides tremendous value and excellent resources. Great information. Great speakers. Great networking opportunities.

A great program! It was very helpful to hear both the faculty and participants comment on key issues.

I thoroughly enjoyed participating in this year's Conference. Thank you for your enthusiasm and leadership.

Thank you for what you do for our industry. I go to a lot of conferences, and your event is the one I look forward to and gain the most from each year.

In particular, I valued the breakout sessions, which allowed for informal conversations on jointly shared issues.

As a first time attendee, I really enjoyed it!

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Thomas C. Logan, Esq.
Carr Allison – Birmingham, AL

What do I like best? The MPIE sessions and meeting so many managing partners in one place.

A very well planned and executed conference. I’ll be back.

The Managing Partner Idea Exchanges (MPIEs) are excellent.

A great event. Thank you for the invitation. I’ll be back next year.

I found this conference to be extremely valuable. We all face very similar challenges, and it’s comforting to know that others share the same questions and concerns.

The faculty and breakout sessions were great. I also enjoyed the first-class location. Please keep me on your invitation list.

I continue to tell people that the MPF is the single, most valuable conference I've ever attended.

This was a great seminar. I especially enjoyed the open sharing of ideas among firm leaders.

The MPIE sessions are always very helpful. We implemented several successful programs after the last Forum and I expect we'll do so again after what I learned today.

I’m really impressed with everything about The Managing Partner Forum. Very useful.

The roundtable discussions with other managing partners in the MPIE sessions was exceptionally valuable.

A terrific program. The interactive sharing of information in a non-competitive atmosphere among peers was most valuable to me.

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Robert U. Sattin, Esq.
TAGLaw – St. Petersburg, FL

A very well-run program, with good issues and great exchange among participants. Thanks for the invitation.

I very much enjoy these programs, especially the open exchange of information among fellow managing partners.

The information exchange was great, especially since I don't have a lot of colleagues in this area. This was a really nice event.

The group dynamics in the MPIE sessions are a great value. I liked Susan Hackett (General Counsel of the Association for Corporate Counsel) on Skype, too.

The instant statistical feedback during the Opening Session and the opportunity to share experiences with other firm leaders were great.

The opportunity to spend an entire day sharing ideas with other managing partners was very therapeutic. I feel better knowing that I am not alone.

What great participation from other managing partners! There’s no other conference like it.

I gained much value from the candid sharing of ideas and interaction with other managing partners.

The interactive sessions were great and the facilitators did a fantastic job.

The MPF brings together the leaders of Florida's top firms, together with experienced consultants, for a great exchange of ideas and information. It's an excellent resource.

I thoroughly enjoyed it! The MPIEs were especially worthwhile and very well presented.

The opportunity to spend the day exchanging ideas and solutions with other managing partners is what I liked best.

This is a dynamic industry and the Managing Partner Forum is a great place to learn about how other firms are adjusting to it.

The true value comes from the opportunity to share solutions with your professional peers. I highly recommend this program to any managing partner.

Since the majority of our firm’s business is referred by other law firms, The Forum is a great place to catch up with our clients while also learning from my peers. It’s a terrific program.

The Managing Partner Forum is a rare opportunity to network with my peers from throughout Florida. I highly recommend it.

I attended The Managing Partner Forum and thought it was outstanding. The program provided an excellent opportunity to benchmark my firm’s performance with our peer group.

The Florida focus is what distinguishes this program from others and gives it particular relevant value.

The MPIE sessions were rich in content, and are what make this leadership conference better than all the rest.

Thank you for putting on another outstanding MPF Conference. I came away, once again, feeling reassured and encouraged.

The MPF provides much-needed interaction for those of us in the 'isolated' role of managing partner of a mid-sized firm. I liked the professionalism of the attendees.

The format was terrific. It gives participants the ability to interact and compare notes with other firm leaders.

The MPF is unique among law firm conferences because it features relaxed, informal discussions among managing partners from other large firms.

I got an unbelievable number of great ideas in the Managing Partner Idea Exchange sessions.

The MPF presents a rare opportunity to exchange ideas and learn how other firm leaders are handling difficult and challenging situations.

The format was excellent and the program was well organized. I will definitely return. The organizers do a fantastic job.

The exchange of ideas was well worth my time and money. I'll be back.

I truly appreciated the opportunity to interact with other managing partners throughout the region. Well done!

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The successful managing partner develops a clear sense of strategic direction, so that on most days most partners are marching in the same direction. How one does this is what the Forum is all about.

The MPF provides a rare opportunity for managing partners to gather and share insights and perspectives on ways to be more effective law firm leaders.

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There is a difference between leadership and management. Law firms need both. The managing partner must be the keeper of the vision and its continuous champion.

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The Managing Partner Forum provides a unique venue to network with other managing partners so I can learn new ways to be more successful in today’s climate.

The Managing Partner Forum offers an invaluable opportunity to learn about the latest trends in the legal industry and to compare notes with other law firm leaders.

The exchange of practical ideas and hearing success stories from other managing partners is what I liked best. This program could have easily lasted two days.

The exchange of ideas and valuable information was impressively solid throughout the day. I appreciate the opportunity to be included.

The discussions were surprisingly open and productive. I came away with much information on where we are doing well, ideas for improvement and strategies for capitalizing on opportunities.

I was impressed by the openness with which the participants shared their experiences, procedures and policies.

I especially liked the information sharing and the chance to network with other managing partners.

I’ve attended many law firm leadership conferences over the years and this is one of the best. A great program with outstanding participants.

Great job! The Managing Partner Forum exceeded my expectations – very valuable. Thanks for including me.

The sessions on strategic planning and the interactive afternoon sessions were extremely valuable.

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Thomas C. Logan, Esq.
Carr Allison – Birmingham, AL

All in all, a very well-run program. The ability to interact with other managing partners was especially valuable.

The opportunity to meet and interact with other managing partners in such a high level setting was well worth the price of admission.

The Managing Partner Idea Exchanges were the best part of the day. I very much appreciate the opportunity to participate and will be here again in the future.

The Keynote Presentation was concise, to the point and had great written materials and presentation slides. It certainly measured up to its advertising and then some!

A terrific conference. I was impressed by the wide variety of viewpoints and candidness of the participants.

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Kelly Overstreet Johnson, Esq. – President
The Florida Bar – Tallahassee, FL

The MPF is a first-class event. It’s a rare opportunity to interact and learn with other managing partners, and there is nothing else quite like it.

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The MPF is unique because it is an exclusive and productive gathering of many peers at one time. The perspectives and insights are invaluable.

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PROFITABILITY – ENHANCING FIRM FINANCIAL PERFORMANCE

  • Articles
  • White Papers
  • Books
  • Economic Surveys

15 Recession-Response Tips

Recession or not, this article from Law Practice magazine includes fifteen really good ideas for lawyers of law firms, regardless of firm size or practice mix. Many of Linda’s suggestions focus on client service and...
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A Broken Business Model

Henning asks "Will it take a revolution to change the way law firms operate?" Will today’s current economic crisis force law firms to rethink the old model of annual hourly rate increases? Radical ideas may...
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A Primer on Computerized Case & Matter Management Systems

Your firm’s case management system is the backbone of your organization. Whether you use it to calendar deadlines and court dates for your litigation practice or to track your firm’s experience in a particular area...
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Alternative Billing Ideas 

Alternative fee arrangements (AFAs) are a hot topic these days. Just about every agenda at law firm management conferences over the past few years has at least one or two sessions on the issue. The...
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Dealing with the Downturn: How Law Firms Can Meet the Challenges and Exploit the Opportunities

This two-part Lex Mundi article focuses on what law firm leaders can do to deal with the downturn through both aggressive law firm economics and strengthening client relationships. The suggested practices can help firms survive...
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Do Law Firm Compensation Systems Drive Profitability?

While there is certainly no such thing as the "right" compensation system, here’s an interesting article from our friends at Edge Group concluding that formula-driven compensation systems hurt firm profitability.   
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Ensuring Long-Term Firm Profitability – Folks, It’s Not Just the RPL!

Giuliani looks at the issue of law firm profitability – not just in the “short run,” but more importantly, over the “long run.”
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Five Ways to ImproveYour Law Firm’s Culture

In her article, Mary identifies five impactful ways to build and improve your firm’s culture so you attract and retain the best legal talent; so your lawyers and staff who work efficiently and effectively as...
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Is Mandatory Retirement a Fading Relic?

Should law firms require partners to retire at a certain age? Setting aside any legal issues (age discrimination anyone?), is this an archaic practice or is it critical to firm succession planning? This article argues...
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Is There a Sea Change toward AFAs? In-House Counsel Give It a Solid "Maybe" 

Over half of in-house counsel – 56%, to be precise – say there has been a "sea change" in how fees are paid to outside counsel. Prompted by the pressure to reduce the overall cost...
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Isn’t It Time That Your Firm Develops a Strategic Plan?

Do you and your partners have a written, cohesive firm strategy? Or are you merely sharing office space with other sole practitioners? Strategic planning is the key differentiator, but it’s not for the faint of...
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Keep an Eye on Your Firm’s Billing Practices

According to research conducted by Samford University’s Cumberland School of Law, 55% of lawyers in private practice admit to overbilling on occasion. The temptation only becomes more severe as there is less work to be...
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Law Firms Demote Partners as Pressure Mounts over Profits

BigLaw is aggressively demoting partners in the face of modern-day legal practice. In case you missed it, this article ran in mid-October in The Wall Street Journal. It profiles Shearman & Sterling and Chadbourne &...
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Legal Strategy 101: It’s Time for Law Firms to Re-Think Their Business Model 

This fascinating article from the Wharton Business School asserts that the global recession is forcing law firms to change the way they do business. 
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Marketing to Your Existing Clients: Three Can’t Miss Programs 

This classic article originally appeared in Law Marketing Exchange, LMA’s national newsletter, back in 1997. Although written almost 15 years ago, its lessons are more important and relevant than ever. Take great care of your current clients – the...
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Midsized Law Firms Report Things Getting Better

The ABA’a Law Practice magazine asked us to contribute an article for its finance column, drawing upon data collected at The MPF 2014 Leadership Conference. Eighty-five (85) managing partners, mostly from mid-size law firms, attended...
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Nine Vital Numbers for Your Law Firm’s Health 

What are the key metrics you use to assess your firm’s financial performance? For many firm leaders, it’s total firm revenue. Others look closely at billable hours and/or collections by lawyer. Others keep a watchful...
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Outsourcing Your Law Firm’s Information Technology

Should your firm outsource its IT department? As the first sentence of this article reveals, the decision can be a real pain. Better inform your decision by taking an honest assessment of how your much...
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Small Firms Had It Right All Along

Smaller and midsize firms performed much better than their “BigLaw” counterparts during the recession according to this article summarizing the findings of the Small Law Firm Economic Impact Report 2009. The reason? Less leverage, lower rates and...
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Study: Location, Firm Size Key to Billing Rates 

Here’s an interesting study that puts law firm billing practices under the microscope. It examines invoices received by 36 large corporate clients finds that location and firm size – not lawyer expertise – are the biggest...
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Ten Tips to Improve Profit in 90 Days or Less

In our November MPF Flash Survey, managing partners reveal that the most effective ways their firms have improved firm profitability over the last three years. Their answers, in order of effectiveness, are 1) Improved Billing and Collections Practices, 2) Marketing and...
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The AmLaw 100: Signs of a Slowdown 

Here’s yet another report about the overall sluggish marketplace for legal services for even the largest US-based law firms. It’s a buyer’s market, and corporate clients are taking advantage as they work to reign in...
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The Eight Habits of Highly Profitable Law Firms

This short article highlights BTI Consulting’s analysis of more than 330 law firms and reveals that firms with the highest profits (reported or not) exhibit eight key traits that are largely responsible for their exceptional...
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The Next Best Thing After Cutting Expenses: Collections

In recent years and as the Great Recession drags on, many law firms have been challenged to maintain, much less increase, their profitability. At first, they looked for ways to cut expenses. They let staff and associates go, cancelled firm...
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Wasted Time and Money: The Top 10 Ways That Firms Squander Precious Marketing Resources

Counting down the Top 10 ways that law firms often squander their marketing resources. Is your firm guilty of any of these?
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What is Your Law Firm Worth?

Determining the value of your law firm is much more complicated than you think. See this article to find out why.
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2017 Report on the State of the Legal Market

The past decade has seen unprecedented change and disruption in the legal market. Sparked by the Great Recession of 2008, the pressure on today’s law firms is more intense than ever. As the market evolves...
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Future Law Office: Technology’s Transformation of the Legal Field 

Many vendors and consultants to the legal industry publish self-serving articles and White Papers as part of their marketing programs. In many cases, however, they’re little more than poorly disguised sales brochures promoting products and services...
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Guide to Value-Based Fees

Companies are changing the way they buy legal services – gradually in some instances, drastically in others. The hourly rate billing model that has ruled for decades is giving way to a greater focus on...
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Legal Pricing in Transition  

Legal pricing is changing as a result of client pressures for efficiency on both hourly and non-hourly matters and the increasing use of alternative fee arrangements, and law firms are being forced to rethink their...
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Practical Advice to Improve Your Firm’s Profitability

From the inaugural issue of the Managing Partner Forum newsletter, firm leaders reveal their top management concerns and thoughts on strategic planning. Our response? It’s time to assume the role of CEO in order to...
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The Current Economic Environment – What Firm Leaders Are Saying

Forum Faculty member John Smock and his partners recently wrote this assessment of how law firms are performing in the midst of the current economic downturn. And it’s not as bad as you might think for the...
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The MPF 2010 Annual Conference A Summary of Discussion Points and Findings 

Over 90 managing partners, firm leaders and top consultants to the legal industry participated in The MPF 2010 Annual Conference on April 29th in Atlanta, Georgia. This comprehensive White Paper summarizes the key findings revealed through...
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Managing the Professional Services Firm

If you had to pick just one book to read to be more a more effective managing partner, this is it. Managing the Professional Services Firm ($26.00, Free Press), written by David Maister, covers a wide array of topics ranging...
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The Lawyer's Guide to Increasing Revenue:  Unlocking the Profit Potential in Your Firm

Increasing Revenue ($79.95, ABA Publishing) provides specific action steps – including practical advice in areas such as billable hours, rates, collections and intake – to improve the revenue and profitablty of your firm. The book includes a...
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The Successful Lawyer Powerful Strategies for Transforming Your Practice

I've known of Gerry Riskin for many years and finally had the opportunity to hear him speak at the ABA Annual Conference in 2009. I bought his book – The Successful Lawyer ($74.95, American Bar Association)...
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Mid-Size Firm Report Is the Market for Mid-Size Law Firms Finally Stabilizing?

This is a two page snap-shot of the marketplace for mid-size law firms so far in 2014 according to Peer Monitor. Although lagging the AmLaw 200 firms in key performance measures, the market appears to...
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