Steiner & Associates

 

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Are you ready to take a HARD LOOK at  your Numbers?

Do you track and measure your firm's performance?
Are you utilizing all of your resources to their fullest?  
Are all of your operations running efficiently and contributing appropriately? 
What can you do to enhance your firm's effectiveness and improve profitability? 


These are important questions in running a successful law practice and Steiner & Associates can help you address them. Michael Steiner, CLM (Certified Legal Manager) and founder of Steiner & Associates, has unique qualifications in law firm management and has increased efficiencies at law firms in Hawaii and the mainland for over 20 years. Working with you and your management team, Steiner can review your business operations and provide an honest and independent assessment.
 
With an eye on efficiency and profitability, Steiner & Associates will review your data and operations to calculate key ratios, interpret findings and implement actions that will lead to improvements in each of the following areas:    

            •     MANAGEMENT & LEADERSHIP                   •    PRACTICE PERFORMANCE
            •     CLIENT PERFORMANCE                            •    PARTNER PERFORMANCE
            •     BALANCE SHEET & RISK                           •    FIRM PERFORMANCE
            •     REVENUE GENERATION                            •    EXPENSE MANAGEMENT
          
Taking on a critical and detailed assessment in these areas will help build a solid foundation for your firm's future success.  As needed, Steiner can also provide the resources to implement solutions which will improve your profitability for years to come. 

 

Here are some of the key ratios that will help assess your current and year-over-year results ultimately comparing these to your competitors.

 

FIRM PERFORMANCE/EXPENSE MANAGEMENT RATIOS:

Revenues per Partner                                    Overhead per Attorney                

Revenues per Attorney                                  Expenses per Attorney

Realization Rates                                          Staffing Ratios

Leverage                                                    Turnover Ratios

 

CLIENT DEVELOPMENT RATIOS:

Client Diversification                                      Year over Year Growth

Originations                                                  Cross-Selling

 

PRACTICE PERFORMANCE RATIOS:

Profit per Practice                                         Practice Contribution to Firm

Fees and Growth                                           Realization

Utilization                                                     Matter Profitability

 

PARTNER PERFORMANCE RATIOS:

Originations and Working Atty Fees                   Billable/Non-Billable Hours

Leverage                                                      Cross-Selling Participation

Realization                                                    Client Satisfaction Rating

 

MANAGEMENT & LEADERSHIP:

Profits per Equity Partner                                 Matter Management Activities

Turnover                                                       Fee/Revenue Growth

Mentoring/Leadership                                       Client Satisfaction Index

 

BALANCE SHEET & RISK RATIOS:

Capital per Partner                                          Debt/Equity Ratios

Accounts Receivable Ratios                               Debt per Partner

Debt/Net Fixed Asset Ratio                               Client Cost Recoveries

 

 

If you are ready to take a hard look at your operating ratios, increase your profitability and distinguish your firm as a recognized leader, call or email for an initial complimentary consultation.

 

Respectfully,

Michael Steiner, CLM

 





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