In the last post in this series on law firm profitability, we examined the implications of shifting from a cost-plus business model to a margin model for law firms. The bottom-line is that firms need to reduce the number of hours it takes to provide a service, and/or reduce the average cost per hour for

Back in 2010, the 3 Geeks decided to try out advertising on our blog. Onit, a legal project management provider, was our first advertiser. We were a bit cautious about going down this path. Our initial and on-going intention for the blog was not about getting rich. Mainly we’re having fun exploring ideas in

I met with current SLA President, Cindy Romaine, a couple months ago and she told me about her project to launch a member-written blog for SLA members. The goal of the blog is to run for 365 days, with 365 posts describing what individual members are doing to prepare for the future of their industry.

Happy New Year! It’s the time of the year when everyone is optimistic. When we reevaluate who we are and what we’re doing and almost universally decide that it is not good and it must change. But still, no one says, “this time next year, I’ll be fatter, uglier and make less money”. We all

Revenue – Cost = Profit: The basic equation that governs business. Yet this remains an elusive, not-yet-understood equation for most law firms. This fourth post in a series on law firm profitability will examine what this equation could and should mean to law firms.
As various legal markets shift from rates to fee pricing,