For Ballard Spahr, after seeing a slight decline in revenue in 2013, 2014 was about discipline. And it seemed to pay off, with the firm posting healthy gains in revenue and profits per equity 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 a less than 1 percent average rate increase. And it saw revenue per lawyer rise in every practice despite demand for legal services continuing to require firms to “scratch and claw” for every dollar, firm Chairman Mark Stewart said.
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