You can have plenty of clients, unparalleled courtroom success, a stellar reputation -- and your firm can still go belly up. That's because running a law firm requires business skills on top of your legal ones. And many lawyers simply don't know how to tell if their business is doing well or not.
Enter KPIs, or "key performance indicators," signposts that can help you know whether your firm is thriving or diving. You're already familiar with the one that almost all firms use, the number of hours billed. But smart, successful firms need more than just one metric to measure their success.