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You are viewing ARCHIVED CONTENT released online between 1 April 2010 and 24 August 2018 or content that has been selectively archived and is no longer active. Content in this archive is NOT UPDATED, and links may not function.Extract from article by Kevin Cheung
To become a better lawyer, one needs to take a step back and look at the fishbowl from the outside in. Retreats can be useful means to that end. But for sole practitioners, that is not always feasible as there may be no one to retreat with. This does not, however, prevent one from setting performance benchmarks or standards for one’s practice, and measuring progress toward them.
Using metrics to understand how your firm is functioning can enhance how you practice. The data can be used to identify areas of inefficiency and growth potential. This will help you create strategies for improvement, adjust resource allocation and develop long-term plans.
What is a KPI?
Businesses use key performance indicators to determine how effectively they are achieving key targets. KPIs are objective measures of performance to assess progress toward goals. Anything can be measured. For sole and small firms, KPIs can measure anything from the growth of your firm to your time away from the office.
Read the complete article at Taking a look at Key Performance Indicators