October 14, 2020 | 12:00 PM Eastern
Timothy B. Corcoran, Principal | Corcoran Consulting Group, LLC
The changing legal market is presenting new challenges and opportunities. For some, profits are rising. For others, profits are declining rapidly. Law firm leaders must move beyond viewing profit as a simple, aggregate annual measure and start to view profit as a referendum on how well the firm is allocating resources and meeting client demands. In this session, we'll demonstrate how progressive law firms are operationalizing profitability, how they're adjusting priorities and allocating resources and marketing attention based on financial measures, and how they're sharpening their strategic focus and improving client satisfaction.
- Examine the traditional measures of law firm profitability and why they are lacking.
- Explore new ways of measuring profitability depending on the desired business objective.
- Recognize the obstacles and best practices faced by other law firms as they adopt new profitability measures.
Body of Knowledge (BoK): Marketing Management and Leadership, Business of Law
Free to LMA Members
$20 for Non-Members
Please register by October 7
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About the Presenter
As a change agent, Tim’s focus is on helping law firms operationalize their strategy, improve profits with project management and process improvement, embrace profitable alternative fee arrangements, assess and improve partner compensation plans, design new financial metrics and dashboards, build effective operations, train current and future leaders, refine business development skills, and embrace technology. Tim helps law departments embrace performance analytics, better manage outside counsel, and improve business velocity. Tim also advises legal service providers on sales effectiveness and go-to-market strategy.
Tim served as President of the 4,000+ member Legal Marketing Association and is a member of its Hall of Fame, he’s a Trustee and Fellow of the the College of Law Practice Management, and a sought-after speaker and writer on topics related to the changing business of law. He also authors the widely-read Corcoran’s Business of Law blog.
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