Conduct a Self-Review

Do your pricing department staff, leaders and attorneys need a more effective way to accurately price matters and determine true profits?
Do you need a better way to profitably price alternative fee arrangements?
Are you unsure if a particular type of work is profitable, not knowing if you should reprice it or stop offering it?
Are you able to monitor matter profitability in real-time?

Are you unsure which clients are profitable? (Without this information it is hard to know if you should reprice their work, invest more to keep them or fire them.)
In pitch situations, do you know how to price the work to win it away from the competition, yet still make money?

Is your attorney compensation system based on revenue or profits?
Do you know how profitable each attorney’s book of business is?
Are you unsure if you are paying certain attorneys too much money, given the profitability of their books of business?
Do you know how to correctly value lateral hires? Do you know if they are bringing over profitable matters and clients?

Do you know how much profit each group delivers to the firm annually? (Without this information it is hard to know if you should invest in the group’s growth, reprice the work or shut it down.)
Do your leaders need to better understand what makes an attorney, client and matter profitable?
Do you know how to value lateral and group acquisitions? Do you know if they are bringing over profitable matters, clients or attorneys?

Do you need to increase your firm’s profits per partner? (As you well know, robust profits allow you to hire the best talent, invest in high-growth areas and acquire laterals and other firms.)
Do you have the profits you need to make the necessary investments to remain competitive and grow the firm?
Do you need better information, so you can make strategic decisions about lateral hires, acquisition candidates, entering new markets and opening new offices?