Economic Sustainability Through Break-Even Analysis

The 2013 CBA Law Firm Leadership Conference is being held Nov. 4 and 5 in Halifax and is focused on the new economics facing law firms, with particular attention to mid-size Canadian firms. In addition to wanting a large turn out because I am on a panel on the last day of the conference, I think pricing decisions and the resulting economics will play a critical role in 2014 and beyond in law firm management.

Going out on a limb (it is always where the sweetest fruit is) I am predicting 2014 will not be a rosy year for law firms and in fact, many firms will see a reduction in their profitability. If this prediction is even partially correct, the need to be on top of the pricing game becomes even more critical.