For Ballard Spahr, which saw a slight decline in revenue in 2013, last year was about discipline. And it seemed to pay off, with the firm posting gains in gross revenue, revenue per lawyer and profits per partner.
The firm hired four managers dedicated to improving its finances, pricing, collections and marketing. It focused more closely on managing matters in a year that saw the firm’s average billing rates increase less than 1 percent. Revenue per lawyer rose in every practice area, says chairman Mark Stewart, despite a competitive environment that required firms to “scratch and claw” for every dollar.
