• 042. Ditch Effective Hourly Rates: How to Calculate Matter-Level Profit

  • Nov 7 2024
  • Length: 41 mins
  • Podcast

042. Ditch Effective Hourly Rates: How to Calculate Matter-Level Profit

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  • Summary

  • Do you know the most profitable parts of your law practice? If you're like most lawyers, the answer is probably no. But without a clear understanding of matter-level profitability, you could be making costly decisions about where to invest your limited time and resources.

    In this episode, I explain why the traditional approach of using effective hourly rate to compare flat fee and hourly matters is flawed and what to do instead. By assigning a direct cost to each team member's time and calculating the gross profit on a matter-by-matter basis, you'll be able to make more informed decisions about which types of work to pursue. The result is a more profitable and intentional law practice.


    Get full show notes, transcript, and more information here: https://www.agileattorney.com/42


    Start your Agile transformation today and check out free resources, including my Law Firm Policy Template, to help you and your team develop a more Agile legal practice: https://www.agileattorney.com/start
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