105: KPIs For Your Flat Fee Firm

Your Law Firm is a Business. Take it to the Next Level

Elevate your law firm's success by mastering the art of KPIs in flat fee firms. We guarantee you'll walk away with valuable insights on how to select and track the right KPI that will truly drive your firm's growth. Not only that, but we'll also share our expertise on how to overcome the common challenges of tracking KPIs and how to ensure their accuracy.

We’ll guide you through the advantages of providing cost certainty to your clients and the importance of offering an estimated timeline for each matter. Discover how to use data to provide your clients with more accurate information about the length of time a matter may take and how setting expectations during the client consultation process can greatly enhance client satisfaction and trust. Remember, having a handle on accurate data doesn't just make you sound smart, it empowers you to make better, more strategic decisions that will take your firm to the next level.

Join us and let's take your firm to the next level!

Show Highlights:

• The importance of Key Performance Indicators (KPIs) for flat fee law firms and how they can be used to drive growth and profitability.
• How to select and track the right KPIs for your firm, including overcoming common challenges and ensuring accuracy.
• Insights on how to use data to make decisions, such as adjusting marketing efforts, automating services, and eliminating unprofitable services.
• The advantages of providing cost certainty to clients and offering estimated timelines for each matter.
• How to use data to provide clients with accurate information about the length of time a matter may take.

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Supporting Resources:

• Schedule a Consultation: https://gngf.com/consultation
• Visit the Website: https://gngf.com/
• Visit streamlined.legal: https://streamlined.legal/
• Watch Videos: https://streamlined.legal/videos
• Twitter: @NextLevel_Legal
• Instagram or Facebook: @nextlevel.legal

ACTION STEPS:

MELANIE:

1. Start tracking your time (and your team’s time)! Even for your flat fee cases, this information will help us make a lot of decisions.
2. Start tracking data now! It doesn’t have to be perfect, but the sooner you start collecting it, the sooner you can use it.
   1. Make a custom field in your software or, better yet, ask a team member to do it for you.
   2. Ask your team to calculate the days from open to closed or the value of the time spent when closing a file.
3. Put a time block on your calendar to look at the data you’ve started collecting in two weeks just so you can make sure they are collecting the way you’ve asked.
4. And then block time two weeks later to see what you’ve got. Do the same thing once a month, and you’ll start seeing trends in the numbers that will tell you if your gut was right. ***

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com. Let them know I sent you.