Posted on April 22, 2020 by Silvia Coulter and Steven Bell
Law firms have long employed a standard practice in predicting revenue: this year’s revenue + X%. That’s fine, as far as it goes, however, this approach provides only a limited view of all of the opportunities and all of the revenue potential in the firm’s pipeline. Traditional commercial businesses long have utilized a simple business tool, the weighted pipeline, to better drive and forecast revenue. Perhaps it’s time for law firms to evaluate this tool, as well. This article from the LawVision Group explains how to get started on the task.