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Developing and Maintaining a Profitable Private Client Practice

Developing and Maintaining a Profitable Private Client Practice

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Published by Ark Group
Provide a 'world class service' that retains existing clients and creates a referral culture that will grow business in a predatory market.
Provide a 'world class service' that retains existing clients and creates a referral culture that will grow business in a predatory market.

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Published by: Ark Group on Jul 23, 2009
Copyright:Attribution Non-commercial

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05/12/2010

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 VIV WILLIAMS
Developing and Maintaining aProfitable Private Client Practice
IN ASSOCIATION WITHPUBLISHED BY 
 
IN ASSOCIATION WITHPUBLISHED BY 
 VIV WILLIAMS
Developing and Maintaining aProfitable Private Client Practice
 
Contents
III
Contents
Executive summary ............................................................................................................VII About the author................................................................................................................IXChapter 1: The tsunami which hit UK legal services ............................................................1
Why was the legal services market ripe for reform? .................................................................2The implications of the current banking crisis for law firms .......................................................2Why now? ............................................................................................................................3Consolidation .......................................................................................................................4What the experts say .............................................................................................................4What will a profitable private client practice look like? .............................................................5
Chapter 2: Planning your firm’s strategy .............................................................................9
What is a strategic plan? .......................................................................................................9The key steps in preparing a strategic plan .............................................................................9The vision .............................................................................................................................9The mission ..........................................................................................................................9The values ............................................................................................................................9The objectives .....................................................................................................................10The strategies .....................................................................................................................10The goals ...........................................................................................................................10The programmes ................................................................................................................10Using hindsight to plan future strategy ..................................................................................10 Assess the current position ...................................................................................................10Drill down ..........................................................................................................................11Reversing cause and effect...................................................................................................11SWOT analysis for practice success ......................................................................................11Strengths and weaknesses....................................................................................................11Threats and opportunities ....................................................................................................12Develop business strategies .................................................................................................12Keep it short and simple ......................................................................................................12The value of partner retreats ................................................................................................12Succession planning ............................................................................................................15Case study: Rowlinsons Solicitors .........................................................................................16
Chapter 3: Practice and financial management ................................................................17
Running a practice more effectively and profitably .................................................................17

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