Your legal expertise is apparent, but what about your business acumen? Do you have time to crunch twenty-five complex financial ratios, and then search the internet for comparison numbers to contextualize your own?
One of the foundations of working on your business rather than in it is your ability to use your firm’s financial and human resources effectively, efficiently, and fairly. Any entrepreneur, in any field, would jump at the chance to discover industry-specific financial benchmarks for the optimal relationship between overhead and revenue, or revenue and number of employees, or gross revenue and owner’s comp. Consultants may be available to run these numbers for you, for a nice fee, and they may or may not be able to give you current information about how your allocation of resources stacks up against that of other, thriving legal practices.
Members of the Academy submit these financials annually and at a close-door session at every Spring Summit, these same Members share information able their financials with each other. If you’re not a Member, you still have the opportunity to have us review your financial statistics against our benchmarks for owner’s compensation, revenue per person on the payroll, revenue per attorney in the firm, and cases per employee, among other valuable ratios. To find out how you too can adjust one or more of your financial numbers and get out of the office and onto the golf course while your revenue skyrockets, contact us about Membership today via email at info@aaepa.com or by phone at 1-800-846-1555.
Jennifer Price
Director, Member Services
American Academy of Estate Planning Attorneys, Inc.
9444 Balboa Avenue, Suite 300
San Diego, California 92123
Phone: (800) 846-1555
www.aaepa.com
- Give Away the Credit! - August 27, 2020
- Build Your Team of A-Players - July 30, 2020
- Creating a Purpose and Profit-Driven Practice - July 9, 2020
