Finance & Accounting

Taking the surprises – and pain – out of pricing

[Australasian Law Management Journal,Finance & Accounting,General Management,Marketing & Business Development] May 12, 2022

Although most lawyers feel anxiety and a sense of dread around pitching and pricing work, this process can be used to build even stronger relationships with clients if you get it right, writes Colin Jasper.   When you think of discussing pricing with your clients, what emotions does it generate? For many lawyers, it creates […]

Q&A: Shona Tarulli – “The truth is that I suffer from imposter syndrome – so I’m always working that little bit harder to prove myself.”

[Australasian Law Management Journal,Finance & Accounting,General Management,Strategy & Leadership] January 18, 2022

In our Q&A, Shona Tarulli, founder and director of Tarulli Lane, explains the key to her fast growth as a sole practitioner, how mentoring has helped her career trajectory, and why she thinks property law is sexy.   Your firm is relatively new, having been set up in July 2020, but you have already been […]

Is bigger better? 5 areas where it pays to have scale

[Australasian Law Management Journal,Finance & Accounting,General Management,Strategy & Leadership] November 6, 2021

Smaller, market-leading law firms have proven over the years that size is not a pre-requisite for success, but there are some areas where scale can be an advantage, writes Joel Barolsky. Ranking law firms by size implies in some way that second position is better than 22nd. But is it? As with many things in […]

How sophisticated is your pricing? Answer these 10 questions to find out

[Australasian Law Management Journal,Finance & Accounting,General Management,Marketing & Business Development,Strategy & Leadership] September 14, 2021

Errors with pricing for legal work are inevitable, but providing clarity around fees and the value proposition that your firm delivers will go a long way to keeping clients happy while boosting your bottom line, writes Colin Jasper. All law firms are under-charging! That may be a bold assertion, but I believe it to be […]

Latest news – Record female representation; Rising cost of hiring mistakes; Diversity tracking inadequate

[Australasian Law Management Journal,Finance & Accounting,General Management,Strategy & Leadership] August 31, 2021

Proportion of female solicitors keeps rising New national research reveals that the percentage of women making up the Australian legal profession has hit a record. The fifth National Profile of Solicitors report, presenting a demographic picture of the legal profession in Australia, was released in July. It reveals that over the past nine years, there has been […]

Latest news – Domestic violence rethink; Move to limit cyber attacks; Spending focus on contract management software

[Australasian Law Management Journal,Finance & Accounting,General Management,Technology] July 5, 2021

Legal profession leads change on domestic violence Domestic violence experts from across the country recently came together to take part in the Law Council of Australia’s National Roundtable on Family Violence: Awareness, Education and Training, to start a new discussion on how the legal profession may rethink its responses to and understanding of domestic and […]

The top 5 professional negligence risks (and how to future-proof your firm)

[Australasian Law Management Journal,Compliance & Risk Management,Finance & Accounting,General Management,Strategy & Leadership]

With professional indemnity claims forecast to rise in a COVID-19-afflicted world, Annette Beashel identifies the key risks facing law firms and outlines strategies that firms can implement to safeguard their practice. Professional indemnity insurers around the world are concerned that there will be a rise in PI claims as a result of the pandemic. Three […]

Latest news – New funding help for women; Legal-tech budget woes; Revenue lift for small firms

[Australasian Law Management Journal,Finance & Accounting,General Management,Marketing & Business Development,People Management(HR),Technology] May 31, 2021

Funding boost welcome for legal assistance services The Law Council of Australia is pleased that the Australian Government has announced additional funding for Australia’s legal assistance sector, with a focus on improving access to justice for women and those experiencing mental health issues. Key funding measures in the 2021-22 Budget will provide a range of […]

Annual rate setting – is it time to rethink your firm’s approach?

[Australasian Law Management Journal,Finance & Accounting,General Management,Strategy & Leadership] May 30, 2021

A time-honoured approach to rate setting within law firms often has a negative impact on profitability, but a change of mindset and methodology can turn things around, writes Colin Jasper. When it comes to setting rates for the new financial year, most firms have a well-established process. This may involve some competitive benchmarking, an assessment […]

10 takeaway lessons from the World Masters webinar series

[Australasian Law Management Journal,Finance & Accounting,General Management,Strategy & Leadership] December 28, 2020

In the second of a two-part article, we report on the recent World Masters of Law Firm Management webinar series and the key lessons that emerged for law firms as they start planning for 2021. The World Masters webinars consisted of five sessions covering:  1. Strategic overview (Joel Barolsky – Barolsky Advisors) 2. Pricing (Colin […]