Developing a Profitable Private Client Practice 2nd ed

If you’re serious about ensuring the success of your private client practice in the new legal market, this proactive guide has the critical tools, advice and support that you need.

Step-by-step, Developing and Maintaining a Profitable Private Client Practice will guide you through the process of developing a comprehensive management strategy for your firm, providing key action points along the way that will define your approach to:

• Business development;
• People management;
• Client care;
• Financial planning;
• Strategy development;
• Succession planning; and
• Exit strategies for the owners.

It demonstrates how to recruit, retain and motivate the best people for your firm with a focus on achieving high levels of performance to improve the overall experience of your clients.

Practical pointers are also provided on effective cash management practices, including how to guarantee cash flow, formulate credit control and time recording policies, introduce the use of credit card payments and create a solid financial base for your firm.

Other key topics discussed include:

• Measurement of marketing spend, risk management and IT;
• Raising profile and reducing wastage in your marketing spend;
• Considering business strategies - franchise, license or become virtual?
• Creating a policy for growth by acquisition;
• Thirteen important lessons when contemplating a merger;
• Using social media as a marketing tool;
• New ways of generating work and managing the process;
• Outcomes-focused regulation and the role of the COLP and COFA;
• Tips for reviewing your firm’s approach to alternative business structures; and much more…

Developing and Maintaining a Profitable Private Client Practice, second edition provides sound management advice and innovative ideas to grow your practice.