A Law Firm’s Budget
Many lawyers can’t sleep at night for two reasons:
- They have no control over their cases and worry they have missed something
- They don’t know if they will make enough money to meet expenses
Any law firm that takes time to plan needs to take time to plan its budget for the year. What we find is that most law firms have no clue what it will cost to run the firm for the next year nor do they know where the revenue is coming from.
Catalyst will work with you to review every line item expenditure and help you develop a working budget. From HR costs to technology needs to marketing, we will define what is needed to make your firm a profitable firm. We will look at case costs control and efficiency of revenue generation.
When we are through you will know what your burden rate is, what your return on investment can be, and what it will take to get you there, and you will know it BEFORE it is too late.
Catalyst teaches proactive financial management. There are lawyers who do not live feast or famine!