Profitability, the concept of Managing on the Edge™, and their importance to a regional law firm

In this article, Jim Perkins introduces a basic primer on what he terms “micro-profitability”, the ability to measure and compare, with a reasonable degree of accuracy, such indicators as the profit of clients, matters, working attorneys, billing attorneys, practice teams, practice groups, and alternative fee arrangements.   He also discusses how this firm’s matter profitability program is part of a management concept they have implemented, called Managing on the Edge™, to ensure they maintain a strong financial and profitable profile.

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