MANY LAWYERS would not consider themselves to be businessmen, and yet run and contribute to a business is what they must do.
It was with these lawyers in mind, and their struggles with accounts payable, GST, and which technology to use that the Law Institute of Victoria (LIV) has published The Successful Law Firm —Tips and tools for a profitable practice. The book is a practical guide to practice management, looking at business structure, funding, budgeting, insurance, trust accounting, employing staff, knowledge management and marketing.
LIV CEO John Cain said his organisation had identified a demand for such a resource by talking to small and medium-sized law firms. It transpired that “there was a real gap in information and knowledge of law practice management and how to run a successful practice”.
“In response to that demand, we decided that we needed to put together a publication that provided all that information and assistance in one spot, but pitched at a level that was very practical and provided hands on solutions to small firms,” he said. “We asked a series of people who have been involved at a very practical level in the management of law firms to put together and review the various chapters.”
He said the book would be easy to use, easy to navigate and would provide a very practical insight into how to successfully run and manage a legal practice. The content would be relevant throughout Australia, he said, with issues such as human resources and marketing having the same ramifications for a successful business whether “you are in Victoria, NSW or the Northern Territory”.
The book has been set out with clear sub-headings and chapter checklists, as well as a Resources and Support section, which lists useful contacts and further reading. Cain said it was an “easy to use guide” for lawyers.
The Successful Law Firm is available from the LIV’s bookshop in Melbourne, and from its online bookstore.