How do you know if your law firm is financially healthy? You analyze the numbers.
The numbers don’t lie, and a thorough analysis of your firm’s financials can paint a clear picture of where your firm stands. Once you understand where you are financially—and where you want to be—you can adjust your decision-making to guide your firm in the direction it needs to go.
Over many years, the Academy has worked with numerous small-to medium-sized estate planning firms to collect and analyze profit & loss statements. In the course of this work, we’ve uncovered certain financial benchmarks that serve as reliable indicators of the health of an estate planning practice.
In The Numbers Don’t Lie: Financial Benchmarks for Law Firm Success report, we show you the four key benchmarks that should command your attention:
- Revenue
- Compensation and Salaries
- Marketing
- Rent
We tell you what it means if you’re above or below each benchmark, and we reveal seven red flags pointing to roadblocks in the way of your firm’s success. Then, we show you how to use all this information to put your firm on track to achieve the success you envision.
