Demystifying Law Firm Profitability

Episode: 108 Episode Description: On the face of it, law firm profitability sounds simple enough: revenue - expenses = profit. And yet, profitability can be a dicey topic for lawyers and legal professionals alike. Drawing on PLI’s Improving Profitability course (now available to LMA members as a complimentary member benefit), this episode demystifies profitability basics and provides legal marketers and business developers with practical strategies for better understanding and supporting law firms in their strategic growth efforts. Speakers: Debra Baker, Managing Director, GrowthPlay Randy Staggers, CPA, Chief Financial and Administrative Officer, Baker Donelson Relevant Links: To optimize the learning experience, LMA Members are encouraged to log in to their member profile to take the PLI course Improving Law Firm Profitability (https://legalmarketing.org/PLI) prior to listening to this podcast. About this Collaboration: LMA is proud to partner with the Practising Law Institute (PLI), a leading nonprofit learning organization in the legal industry, to offer new, complimentary educational offerings to LMA members. Through this initiative, PLI, a renowned resource for attorneys and other professionals, will offer LMA members exclusive complimentary access to select educational programs. Curated for LMA members with their professional development goals in mind, these programs will provide legal marketing professionals with relevant, useful information on the business of law and substantive legal issues, presented by PLI’s faculty of leading industry experts.