There are many methods and rule’s of thumb when calculating the billing capacity of your legal firm.
In this short guide, we will explore these so you can apply to your business, but note, every legal firm is different and these should be used as a guide only.
This will show you the inputs required and calculations needed to obtain the firms billing capacity.
First Step: Understanding Capacity
You need to calculate the billing capacity of your firm. This starts with each individual, their hourly rate, expected productive hours, etc. This number needs to be built from each individual and will ultimately give a firm wide capacity number.
We also have a great discussion with our Managing Director, Mark Rogerson discussing all things capacity and how essential it is to get right in your Legal Firm!