Recommended: Half Day
To attend: Partners and client facing staff
Is your lock up in excess of 15 per cent of gross fees? If so then this course is an absolute must. Reducing your lock up will result in a massive improvement in your client service as well as enabling firm owners to downsize the cash invested in the business.
But most inter firm surveys continue to show that most firms have lock (debtors/receivables and WIP) in the region of 25-35% of gross fees. The firm’s balance sheet shows this as an asset but is it really? Maybe lock up does more harm than good? This course will show the steps to take to reduce lock up to 15% or less. Your clients will love the new approach – and so will you.
This interactive course includes:
- How the LUBRM model can show the key areas in which you can improve profitability and reduce lock up.
- How to reduce the key variances that reduce profitability before you even raise an invoice
- Billing myths and how to avoid falling into a whole range of low billing traps
- Compelling reasons why you must reduce lock up – it is damaging your client service capability
- Improving job profitability
- Three essential budgeting lessons
- Twelve lessons from my client manager casebook
- Discussing prices with clients and how to avoid giving away your services for less than they are worth
- How to handle price complaints
- Key ways to improve billing
- Massive action campaign to reduce lock up
- The 21st century way to manage your client relationship financially – reduce your lock up to 15% guaranteed!