navigating business strategy

These are changing times for law firms. Our industry is in the midst of significant changes, and with those changes come new business challenges. Fresh approaches and practical solutions are needed. Applied Strategies offers both.

Our experts serve as trusted advisors, sounding boards, and confidantes. We work with small to medium-sized law firms, and occasionally individual lawyers, to develop practical, pragmatic solutions for their business challenges.

Read our three main criteria ASI follows in selecting assignments. Our customized solutions are focused in the areas of:

Read more in our brochure.


KEY PERFORMANCE INDICATORS
A Law Firm GuidePurchase Book

NEW! Purchase the e-book from BookBaby or Amazon

Law firms of all sizes should calculate and track indicators of their performance and health. The most successful firms use these indicators to assist in making important business decisions, in motivating and aligning behavior, and in adjusting to the new realities. Indicators should meet the following three criteria to qualify as a KPI for your firm:

  1. It must reflect the firm's strategy and goals;
  2. It must be key to the firm's success; and
  3. It must be quantifiable.

Your firm's strategic focus will impact its selection of KPI. The author is not suggesting that all that counts in a law firm can be counted but rather what gets measured is what gets done. Therefore, if an indicator is not quantifiable, it is not likely that it will be incorporated into a firm's decision-making process which may in fact cause issues to go unaddressed. The list of KPIs identified in this booklet is not intended to be exhaustive but rather as a collection of common and not so common KPIs that firms are and will be using over time. The KPIs identified in this guide are broken down into the following four categories: Special Pandemic, Marketing, Productivity, Financial.

A word of caution – KPI is simply a tool – there are no substitutes for the use of common sense and good judgment when it comes to the management of a law firm.

Available on both:

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VIDEO CONFERENCE - LIKELY CHALLENGES OF THE FIRST POST VIRUS PERIOD

 

MPF WEBINAR SERIES

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NEW November 4, 2020 - Stephen Mabey was a participate on the panel with Roger Hayse out of Dallas Texas.

The topic was "Which Key Performance Indicators ("KPIs") are best for your Law Firm?" and they branched off into a variety of topics that related back to metrics and KPIs.

Go to the video on youtube or download the handouts.


NOTE: The next bi-weekly webinar is titled  “Budgeting Considerations for 2021” and is on Nov 18/20 @ 2pm.

To register go to the MPF website.




MPF VIRTUAL LEADERSHIP CONFERENCE

MPF - 2020

October 1, 2020 - Stephen Mabey was a panelist for the financial section of this years conference themed 20 Top Strategies for '21 - see PP handout.

Conference Handout

One of the most interesting sessions was Gerry Risken's talk on "Agility in the Face of Fragility". The elephant in the room which most of us ignore when we speak about the current pandemic and its impact on law firms and the practice of law is the impact on our mental health - both short and long term. It almost seems that if we do not speak to the very real issue, it will remain hidden or even better still go away. Gerry in a polite but direct manner calls "baloney" on our common response that we are doing  "okay" when asked the question on how we are doing. By shining a light on the circumstances that do not make us "okay" in these times of uncertainty hopefully he sets the stage for more meaningful relationship conversations between ourselves and with our client.

Read the white paper.




FEATURED ARTICLES

Goto >> Article Index >>

Pandemic KPI Some new, some old but all relevant - pdf
Stephen Mabey, September 2020

Top Positive Developments Arising from the COVID-19 Pandemic - pdf
Stephen Mabey, June 2020

Law Firms' Parallel Phases During the Coronavirus - pdf
Stephen Mabey & Mia Hempey, April 2020

A COVID-19 Financial Survival Kit for Law Firms - pdf
Stephen Mabey, March 2020

The Impact of COVID–19 on How Law Firms do Business When it is Just a Memory? - pdf
Stephen Mabey, March 2020

Can Anything Good Come from the Outbreak of COVID–19? - pdf
Stephen Mabey, March 2020

 

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