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Law firm management skills training

Law firm management skills training

I am currently working with several firms running in-house management skills programmes.   These are typically designed for senior associates and junior partners and are designed to equip them with the management skills they will need as they move through their careers.

They concentrate on three core areas that people at this level have often not previously encountered: finance; managing and motivating people; and developing and implementing strategy.

Typically in-house courses last for twelve months and there are six modules with pre-reading and some work to do afterwards.

Illustrative module

Module one – Introduction and Finance I

  • Introduction to the programme
  • The difference between profit and cash
  • Accounts and partner capital – an exercise
  • A set of partnership accounts
  • A set of LLP accounts
  • Group work – the key factors we think impact on profitability?
  • Guest speaker: Your role in improving financial performance – the firm’s finance director/manager

Pre-reading:

Chapter 1 in From Recession to Upturn

Chapter 1 in Profitability & Law Firm Management

Homework

Download a set of LLP accounts from Companies House for a law firm you have heard of: How many members do they have? What is the average profit per member? What are the fees per member? What else did you discover about the firm?

“Andrew presented a very informative and entertaining session on law firm business strategy and finance to a group of aspiring partners. I certainly saw lightbulb moments from a few of them throughout the day. There was some excellent discussion points that came out and ones which I hope they will continue with throughout their careers not least to help us develop in the future. As Managing Partner, I was very pleased with the content and the way in which it was delivered, and the delegates all very much enjoyed the day.”