The profitability of a law firm relies on meticulous financial management and a thorough analysis of performance metrics. By leveraging essential Key Performance Indicators (KPIs), firms can assess and enhance their financial health. Metrics such as revenue growth, average billing rates, and the breakeven point provide valuable insights that empower strategic decision-making and drive performance optimization.

Jarvis Legal, a cloud-based platform for legal practice management, has been a part of the LexisNexis family since Jul 2024. Jarvis Legal CEO Alexandre Yeremian shares its journey – from tackling inefficiencies to pioneering AI innovation – and plans for its global future.

As someone leading my firm's digital transformation efforts over the past five years, together with the firm’s Senior Partners, I've been involved in the adoption of artificial intelligence and other advanced technologies. It has been a challenging yet stimulating journey, and I want to share my insights into what drove this transformation.

Artificial intelligence (AI) is entering the legal services sector. Some law firms, particularly the largest ones, are already experimenting with AI not only to streamline internal processes but also to perform legal tasks. So, let's address the elephant in the room - AI is shrinking the legal services market by introducing a new competitive threat unlike any we've encountered before.

With a private practice background spanning over 20 years, John James McVeigh is the CEO and Head Trainer at Nixedonia – a business development company he established in 2015. He shares some of his insights on business development in the CEE legal world.

ChatGPT, an AI that claimed to be able to write an answer or even a brief article on any topic, became the talk of the year 2022. Copywriters, PR professionals, and marketing experts will all benefit from it greatly. But should we be scared?

In Part 1, I talked about the dilemma facing most lawyers when asked to involve themselves with business development. If you want to be good at BD, it helps a lot to be an optimist. But, since most lawyers are uber-pessimists, we struggle with BD and find ourselves with practically zero persistence.

Lawyers know that business development requires a handful of sales skills, a pinch of luck, and a boatload of persistence. Freaking BD persistence… it’s a serious problem for all of us. We didn’t go to law school to do sales.

When you get up to present at a conference, what is your goal? Since lawyers are addicted to billable hours, you are probably gambling some non-billable time with the hope of landing some legal work. To accomplish this, you want to sell yourself to potential clients as a competent, trustworthy, and mildly entertaining lawyer.

Although in most respects the law firm business in Central Europe is on par with other sophisticated practices in the rest of the world, coaching is one thing that has not been as widely adopted as elsewhere. This article addresses the questions of what coaching is, what it offers lawyers and law firms, and whether it should be more widely embraced by the legal profession in Central Europe.

In December of 2021, I had the pleasure of attending the CEELM Winter Ball, a festive event filled with good food and great discussions. Although I truly enjoyed this opportunity to catch up with old friends, I also found it fascinating to observe lawyers operating outside of their office comfort zone by partaking in the mysterious ritual of networking.

The following situation would cause me to pull my hair out – if I had any left.

When we think of a crisis, what usually comes to our mind is an unexpected, negative event, with a limited duration.

After billing 500 hours for the past month, you finally found some quality time to write an article for your loving clients. After you send it out, you watch your phone with bated breath, anticipating that avalanche of new business that’s just about to pour in. Then, nothing.

Over thirty years ago, journalists reported that a chemical had been released into the water pipes of Durand, Michigan. They warned citizens that the chemical DHMO could accelerate corrosion and in certain situations even cause suffocation. The city’s inhabitants were beside themselves in panic.

Once upon a time, you were a pretty good speaker, dominating the law conference circuit. Now, you find yourself holding webinars in your pajamas. Things got weird, fast.

Everyone knows that law firm pitches are terrible, and nobody is happy about it – not the lawyers, not the marketing/BD teams, and definitely not the clients.

The coronavirus has had a deep effect on legal services. Now we can start drawing conclusions on how deeply this sector has been affected during the last two months.