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Profitable law firm owners track and analyze their SKUs and in this episode we learn why. SKUs (Stock Keeping Units) in the context of law firms refer to an accounting of all the time that goes into producing a specific legal service. Dawn Mobley, Practice Management Advisor, COO at How To MANAGE a Small Law Firm shares her expertise on creating and optimizing SKUs to boost law firm efficiency and profitability.
Dawn explains how using the SKU Calculator simplifies the often intimidating process of SKU analysis into a manageable process for law firm owners. She shares real-world examples of how detailing and tracking SKUs leads to a more profitable law firm.
“Some of the benefits of using the SKU Calculator and doing your SKUs is that it clearly shows you what the cost is of producing whatever service you’re providing.” – Dawn Mobley
Key Takeaways
- Understanding SKUs and their importance in law firm management
- How SKUs can help identify opportunities for delegation and optimization
- The relationship between SKUs, profitability, and efficient service delivery
- Practical tips for implementing SKU analysis in your law firm
Classic Questions
In this segment, Dawn shares an audiobook clip of her favorite part of the Profit First for Lawyers book. She focuses on Chapter 5, specifically Production, the third of The 7 Main Parts of Every Successful Law Firm. Dawn discusses the importance of documented systems and procedures for every role and task in a law firm. Additionally, she reflects on a profitable action she has taken over the last year inspired by RJon’s teachings. An impactful use case for how these concepts can be personally beneficial.
Links & Resources
– Episodes featuring Production: Ep 13 & Ep 64
– SKU Calculator from the Profit First for Lawyers curated resource page
– Leave us a review on Apple, Spotify, Audible or wherever you listen to your favorite podcasts
– Buy your copy of Profit First for Lawyers
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