Being a Successful New Partner

April 2, 2018 - ON-DEMAND

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An Altman Weil Online Training Series 

ON-DEMAND: Choose 4 weeks of access for the entire firm – and start viewing sessions the day you register.


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

 
New partners represent the future of your law firm.  And in today’s highly-competitive environment, you need to ensure that every partner is fully engaged, productive and profitable from year one.  That’s why Altman Weil has developed a training series to give your new partners insight on the business of law, a solid foundation in law firm economics, and guidance on building sustainable client relationships.

Altman Weil’s Being a Successful New Partner delivers six hours of content in five convenient sessions to accelerate the professional development of your firm’s future leaders.  Content 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 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


SIGN UP FOR 4 WEEKS OF UNLIMITED, ALL-FIRM ACCESS


Registration Details

Choose the timing that works best for your firm – and start viewing sessions the day you register.

On-Demand price:  $2,995 for 4 weeks of unlimited, all-firm access to all sessions of the five-part series (6 hours of content)

On-Demand registrations include:

  • 24/7 online access to the complete series for 4 weeks beginning the day you register
  • Unlimited views during your chosen subscription period
  • All-firm viewing rights during your chosen subscription period
  • Supplementary materials, with permission to distribute to all program participants

Lawyer attendance tracking:  You can track the attendance of individual participants for a nominal per lawyer fee. Contact us for details.

Refunds are not available for On-Demand registrations.

REGISTER NOW!


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

Program Presenters

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 seminars@altmanweil.com.

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