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Your resolution for your new financial year – focus on what really matters

From Peter ScottPeter Scott

Your resolution for your new financial year – focus on what really matters

This is the time of year when many law firms begin their new financial years. But how many analyse the past year’s performance and take steps to remedy problem issues or, if performance was sparkling, to build on proven strengths?

Analysis carried out now is likely to point to just a few things which if managed differently will be beneficial to your firm in the financial year about to begin. I am not referring to any ‘really clever stuff’ but to just certain basic things which any law firm should be capable of and if implemented can substantially improve results in the year ahead. Financial KPIs and effective PDRs will identify where the focus of your effort should now be placed and in this month’s Briefing Note I point to areas where taking action now can make a real difference to a firm.

The elevation of new partners is also very current at this time of year, but will they ‘hit the ground running’ so as to be able to make a real added contribution as partners in their first year? Unless they have been prepared in advance for partnership the answer is probably ‘No!’. If your firm is now making up new partners, I set out some ideas on how you can best prepare them for their new roles, because new partners should not just be selected, but need to be supported and developed.

Download the briefing note below.

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