A law firm’s economic model defines how the firm runs from an economic perspective and helps a firm to:
- generate fees
- reward origination
- manage overhead
- invest earnings, and
- define the threshold profit levels.
When a law firm understands its economics, it knows what drives the firm's practice, profitability, and success. This gives the firm a sustainable competitive advantage.
If you don’t have an operating model and want to develop one or want to improve your current model, download this free ebook below to guide you on the right path.
