How to Establish the Correct KPIs for Your Law Practice

• 1 Convert firm goals into leading KPIs by working backward through conversion rates
• 2 Include partner market-rate compensation as a firm expense when calculating profit percentage
• 3 Track five core financial KPIs: profit %, accounts receivable, cash on hand, labor %, realization rate
• 4 Have team members report role-specific KPIs weekly and use results to experiment and adjust

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