Imagine two estate planning firms that each collect $1 million in a year. One finishes with an 8% profit margin and keeps $80,000 in profit. The other finishes at 20% and keeps $200,000. The firms have identical revenue, but one created $120,000 more profit from it. Revenue tells you how much business passed through theContinue reading “What Should an Estate Planning Law Firm’s Profit Margin Be?”
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What Is a Healthy Revenue per FTE Ratio for an Estate Planning Firm?
A healthy reference range is approximately $220,000 to $300,000 in annual revenue per full-time-equivalent team member. Measure it over a trailing 12-month period and compare it with the firm’s own history, because the ratio is a capacity signal rather than a production quota. Below the range, an estate-planning law firm may have a pricing, matter-mix,Continue reading “What Is a Healthy Revenue per FTE Ratio for an Estate Planning Firm?”
What Does Revenue per Salary Dollar Reveal About a Law Firm
Revenue per salary dollar shows how much firmwide revenue is generated for each dollar of payroll expense. It is a labor-leverage signal: useful for spotting changes in staffing economics, pricing, workflow, output, and compensation pressure, but insufficient to diagnose any one of those issues by itself. EPiC’s current metrics use 2.0 to 2.5 as aContinue reading “What Does Revenue per Salary Dollar Reveal About a Law Firm”
The Road From $500K to $1 Million: Building an Estate Planning Firm That Can Scale
The distance between a $500,000 estate planning practice and a $1 million firm is not just another $500,000. It is a change in how the business wins work, prices it, produces it, collects it, and uses the owner’s time. At $500,000, a talented attorney can still rescue nearly every weak handoff. The owner can draftContinue reading “The Road From $500K to $1 Million: Building an Estate Planning Firm That Can Scale”
Five Ways to Grow Estate Planning Revenue Without More Leads
An estate planning firm can increase revenue without generating more leads by improving what happens after an inquiry arrives: response, qualification, consultation attendance, conversion, matter value, delivery, and collection. The objective is not to pressure every prospect into becoming a client. It is to reduce avoidable leakage, serve appropriate clients more effectively, and collect theContinue reading “Five Ways to Grow Estate Planning Revenue Without More Leads”
Pay for the Firm You Want: A Compensation Strategy for Estate Planning Law Firms
The lowest salary is not always the least expensive employee, and the highest salary is not always the most costly. Compensation works when it attracts the right people, makes success visible, rewards valuable performance, and leaves the firm economically strong enough to keep investing in its team. For most estate planning firms, a sound planContinue reading “Pay for the Firm You Want: A Compensation Strategy for Estate Planning Law Firms “
Guest Appearance: Tom Fafinski on Center Stage – The Day Your Law Firm Stops Owning You
Tom Fafinski, founder of EPiC Peer Groups, joins Center Stage to discuss how law firm owners can move beyond being the bottleneck in their businesses and build firms that can grow without depending on them every day. For many law firm owners, growth means working longer hours, taking on more responsibility, and staying involved inContinue reading “Guest Appearance: Tom Fafinski on Center Stage – The Day Your Law Firm Stops Owning You”
You Hit $800K in Revenue. So Why Does It Feel Harder Than Ever?
There’s a very consistent point in the growth of many estate planning firms where something changes. The business is finally gaining some traction after all of your hard work. Maybe you’ve hit $800K in revenue on the way to your big, hairy, audacious goal of $1 million. You barely notice it because you’re too busyContinue reading “You Hit $800K in Revenue. So Why Does It Feel Harder Than Ever?”
7 Signs You’re Still Operating as an Individual Contributor, Even If You Have a Team
Hiring a team does not automatically make you a leader. Many law firm owners believe they have stepped into the role of CEO because they have hired more people. They have assistants, paralegals, associates, client service support and administrators. The headcount has changed, but the operational structure has not. The owner is still driving nearlyContinue reading “7 Signs You’re Still Operating as an Individual Contributor, Even If You Have a Team”
Navigating Legal Differences: Key Considerations for Expanding Your Law Practice to Another State
Expanding your law practice to a new state can open up exciting opportunities for growth and diversification. However, it also presents unique challenges, particularly when it comes to understanding and navigating the legal differences between states. Each state has its own set of laws and regulations, which can significantly impact how you operate your practice. Before expanding, it’s crucial to conduct thorough research on theContinue reading “Navigating Legal Differences: Key Considerations for Expanding Your Law Practice to Another State “