Being a Successful New Partner
February 6, 2017 - ONLINE SERIES
An Altman Weil Online Training Series: February 6, 2017 - March 31, 2017
Session 1 – The Obligations of Partnership (90 minutes)
Session 2 – How Law Firms Make Money (60 minutes)
Session 3 – The Balance Sheet and Capital (60 minutes)
Session 4 – Calculating Profitability (60 minutes)
Session 5 – What Clients Want (90 minutes)
CLICK HERE TO REGISTER
Altman Weil’s Being a Successful New Partner is a unique training program on the business of law for new law firm partners. The program is available online for eight weeks, February 6, 2017 - March 31, 2017. Register for one office location, or choose a firm-wide, multi-office site license.
Six hours of content are delivered in five convenient sessions that can be accessed on your firm’s timetable. Bring your lawyers together for group learning, or take advantage of 24/7 access to accommodate individual schedules.
Registrants will receive written materials to supplement the training sessions.
Session 1. The Obligations of Partnership in 21st Century Law Firms
This session will discuss the skills lawyers must master to become fully contributing partners and position themselves for success throughout their careers. (90 minutes)
- Adopting the mindset of an owner
- Understanding and responding to market forces
- Collaborating with your partners and clients
- Making an ongoing investment in your firm's success
Session 2. How Law Firms Make Money
This session provides an overview of the law firm operating model and the financial basics that every partner needs to understand. (60 minutes)
- The fundamentals of law firm economics
- The levers of profitability
- Operational issues: People, process, space, technology
- Lawyer compensation from an owner’s perspective
Session 3. The Balance Sheet and Capital
This session offers a practical, plain language guide to the numbers you need to know to assess your firm’s financial health. (60 minutes)
- Understanding your law firm’s financial statements
- Key benchmarks to gauge firm health
- The uses of working capital
Session 4. Calculating Profitability
This session follows the flow of law firm revenue, explains underlying costs of service delivery, discusses the impact of pricing decisions, and gives you the tools to analyze firm, practice and individual profit profiles. (60 minutes)
- The revenue stream and realization factors
- A simple cost allocation model
- Putting it all together: Net contribution and profitability
Session 5. What Clients Want – And What You Should Do About It
This session offers guidance on listening to your clients, serving their needs, managing their expectations and building sustainable relationships in an increasingly competitive legal market. (90 minutes)
- Adding value beyond good legal work
- Developing skills that clients care about
- Using pricing, efficiency and service to differentiate your practice
- Making clients the center of your career strategy
Register for one office location, or choose a firm-wide, multi-office site license.
A basic subscription gives your firm access to the full course of five sessions at one office location from February 6, 2017 through March 31, 2017. Simply login to view the sessions online any time, 24 hours a day, during the subscription period.
A multi-office site license subscription gives your firm access to the full course of five sessions at all firm offices from February 6, 2017 through March 31, 2017. Simply login to view the sessions online any time, 24 hours a day, during the subscription period.
One office, February 6, 2017 through March 31, 2017: $2,495
All offices, February 6, 2017 through March 31, 2017: $3,750
Your registration includes:
- 24/7 online access to all five sessions during the subscription period
- Unlimited views during the subscription period
- Single-site or all-firm viewing rights
- Supplementary written materials, with permission to distribute to all program participants
- Private Portals - Choose the program dates and duration that work best for your firm (from 8 weeks up to a full year of access)
- Lawyer Attendance Tracking – Track individual lawyer session views for a nominal per-lawyer fee
Contact us for more details on these program options.
Who should attend:
- All new law firm partners
- Junior partners who need grounding in law firm finance
- Non-equity partners who want to move up the career ladder
- Any partner who wants to become more proactive, productive and profitable
Thomas S. Clay, Principal, Altman Weil, Inc.
Tom Clay is a principal of Altman Weil. For over thirty years, he has been advising law firms on strategy, leadership, management and organization. He is the creator and co-author of Altman Weil’s highly-regarded annual industry survey, Law Firms in Transition, which tracks how the business of law is changing.
James D. Cotterman, Principal, Altman Weil, Inc.
Jim Cotterman is a principal of Altman Weil. For over 25 years, he has worked with law firms on lawyer compensation, law firm capital structure and other law firm financial issues, as well as management and governance. He is the author of the ABA book, Compensation Plans for Law Firms; a member of the Board of Editors of the journal, Accounting and Financial Planning for Law Firms; and formerly acted as supervising author for Matthew Bender's text, How to Manage Your Law Office.
QUESTIONS? Call us for more information at (610) 886-2008, or email firstname.lastname@example.org.
You may cancel your registration and receive a full refund up to two business days before online access opens on February 6, 2017.