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042. Ditch Effective Hourly Rates: How to Calculate Matter-Level Profit
Manage episode 448897032 series 3562906
Innhold levert av John E. Grant. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av John E. Grant eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
Do you know the most profitable parts of your law practice? If you're like most lawyers, the answer is probably no. But without a clear understanding of matter-level profitability, you could be making costly decisions about where to invest your limited time and resources.
In this episode, I explain why the traditional approach of using effective hourly rate to compare flat fee and hourly matters is flawed and what to do instead. By assigning a direct cost to each team member's time and calculating the gross profit on a matter-by-matter basis, you'll be able to make more informed decisions about which types of work to pursue. The result is a more profitable and intentional law practice.
Get full show notes, transcript, and more information here: https://www.agileattorney.com/42
Start your Agile transformation today and check out free resources, including my Law Firm Policy Template, to help you and your team develop a more Agile legal practice: https://www.agileattorney.com/start
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