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.

Objectives:

• 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.