Planning, pricing and fee negotiation for Lawyers
|Event Date/Time: Sep 02, 2009||End Date/Time: Sep 02, 2009|
â€¢ Develop an understanding of planning, pricing and fee negotiation
â€¢ Discover how to successfully handle difficult client conversations when negotiating fees and securing business
â€¢ Consider issues such as capacity, production, costing, and pricing and how each factor links into matter profitability
â€¢ Understand the makeup of the profit model and what factors can influence your firmâ€™s profitability negatively and positively
â€¢ Explore cash flow throughout the firm, including the key issues of lock-up and working capital management
â€¢ Adapting engagement letters on every matter to increase client satisfaction and maximise matter profitability
â€¢ Learn how you can contribute to winning more business and understand how to assess which work is the most profitable
Planning, pricing and fee negotiation are all critical especially now when clients are demanding more for less and firms are slashing costs to retain clients and remain competitive.
Whilst financial staff manage the complex elements of the day-to-day accounting of the firm, all senior fee earners within the firm need to understand how their actions and decisions contribute to the firm achieving its financial goals and remaining a sustainable business. Owners of the business, in particular, need to be able to understand the firm's financials. Many leaders may recognise the importance of understanding financials, but not all will necessarily have a natural aptitude for fully understanding them and how best to use them to develop the firm.
This masterclass explores all of the elements of finance that you need to understand as a non-financial leader. You will have risen through the ranks at your firm to the level where at least some of the firmâ€™s financial information is being reported to you and you need to be able to analyse and assess what that information is telling you and what actions you should take as a result. This masterclass will equip you with the understanding and context to do both of these things and arm you with tools to take back to your firm and use immediately.
Do not miss this unique opportunity to get up-to-speed with the critical subject of financial management in your firm, from a non-finance perspective!