Knowledge centre

What does your firm’s balance sheet tell you?

[Australasian Law Management Journal,Finance & Accounting,Marketing & Business Development,Strategy & Leadership,Uncategorized] August 26, 2020

In an effort to increase the net worth of their law firm, smart partners should be paying more attention to five important intangible assets on their often-neglected balance sheet, writes Joel Barolsky. Law firm partners pay a lot of attention to their firm’s profit and loss statements, but they tend to glance over the asset […]

Law firm essentials for surviving the COVID-19 pandemic

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

During the COVID-19 pandemic, resource-poor small law firm practitioners have to take care of themselves, their clients and their cashflow if they hope to survive, while at the same time catering to the whims of all their stakeholders. Jordan Furlong offers some tips on how to do it. What will the COVID-19 pandemic and its […]

‘Unprecedented’ times as over-the-top language goes viral

[Australasian Law Management Journal,General Management,Marketing & Business Development,People Management(HR),Strategy & Leadership] August 24, 2020

Hyperbolic language during the COVID-19 pandemic is a reminder to all staff members in the legal sector of the importance of words and the need to use them accurately at a time when face-to-face communication is often difficult, write Trish Carroll and Sharon de Bomford. We’re putting out the call to lock down the word […]

Q&A: Matthew Karakoulakis – “What I’m saying is that hard work has its place – and sometimes people forget the need to work hard.”

[Australasian Law Management Journal,General Management,Marketing & Business Development,People Management(HR),Strategy & Leadership] August 12, 2020

In the second part of our Q&A, AMK Law founder Matthew Karakoulakis tells us how the Japanese principle of kaizen is giving his firm an edge, and why diversity is so important to his life and work. How is AMK Law faring during the COVID-19 pandemic? “COVID-19 has definitely changed the world, not just the […]

Q&A: Matthew Karakoulakis – “If you can be clear about your process and control the events, you’re likely to get the outcome you want”

[Australasian Law Management Journal,General Management,Marketing & Business Development,People Management(HR),Strategy & Leadership,Technology] July 31, 2020

In the first part of a two-part Q&A, AMK Law founder Matthew Karakoulakis explains why practising martial arts has been so important to his legal career, and how innovation is helping his clients. Why did you choose law as a career? “I grew up in Adelaide and knew from about the age of 10 that […]

Lockdown 2.0 – don’t waste your chance to take the lead

[Australasian Law Management Journal,General Management,People Management(HR),Strategy & Leadership] July 29, 2020

Law firms should use the COVID-19 crisis as a time to recalibrate their operations and build the sort of genuine leadership competencies that will be crucial to success in the not-so-new-normal, writes Leonie Green. I write this column from Melbourne during our second round of lockdown as a result of the COVID-19 outbreak. We have […]

Why the viability of many small firms hinges on better pricing skills

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

In the quest for greater profitability, there is a crying need within small law firms for more training around pricing, both in terms of skills and the psychology of fee-setting, writes Rob Knowsley. A great deal of attention has been quite properly directed in recent years at ways to improve the viability of small legal […]

Pricing in a downturn: helping clients through the crisis

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

Agreeing to any client requests for fee reductions during tough economic times can have a seriously debilitating effect on the long-term viability of a law firm and such actions should not be taken lightly, writes Colin Jasper.   What the research says… During the past month, I’ve read three pieces of research – relevant to […]

Latest news – Office space shrinking; Revenue falls for law firms; Legal assistance coup

[Australasian Law Management Journal,Finance & Accounting,General Management,Marketing & Business Development,Strategy & Leadership] July 22, 2020

Law firm offices shrink as COVID-19 hits home COVID-19 appears to be accelerating the shift towards law firms with smaller office footprints. While many law firms had already been downsizing their offices before the pandemic hit, the shift to working from home may be fast-tracking that process. According to a survey conducted by commercial real […]

Q&A: Roger Blow – “To be able make personal calls on how you work is a freedom you can only really get by having your own gig.”

[Australasian Law Management Journal,General Management,Marketing & Business Development,People Management(HR),Strategy & Leadership] June 29, 2020

In our Q&A, Cove Legal founder and practice director Roger Blow explains why he is cautious about his boutique firm growing; how he tries to be brutally honest if something goes wrong with a legal matter; and why participating in cycling and music makes his life a whole lot better.   First thing first, how […]