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Profitability

According to the Bureau of Labor Statistics and the
Occupational Outlook Handbook, the median salary of an attorney for 2018 was
$120,918.  This breaks down to a median
of $58.13 per hour.  The median salary for
2017 was $119,250.  This breaks down to a
median of $57.33 per hour. 

As costs grow…

Introducing the FirmTRAK Productivity Panel on Profitability

A study by CBI Insights stated that 42% of businesses fail due to a lack of market.  Similarly, many law firms start down a path of low profitability due to not being able to see what markets represent the largest number of matters.  On the flipside, many firms…

Each person has 24 hours in a day. What you do with those 24 hours can determine the success or failure of your firm.

Actually, that’s not true. It’s what you bill for those hours that can determine the success or failure of your firm.

Actually, that’s not entirely true either. The truth is that…

As trends indicate, 2019 was the year to
really focus on a customer service oriented firm.  With the abundance of attorneys competing for
cases and the advent of more competition from online attorney referral
services, it’s more important than ever to keep your clients informed of the
status of their case in a timely manner…