The Law Is A Mid Sized Business Law Firm Based - 1987 Words

Modus Law is a mid-sized business law firm based in Boulder. We were founded upon the ideal of breaking the traditional mold in our organization culture and the way we deliver legal services to entrepreneurs and business owners. Our core values are education, transparency, efficiency and mindfulness. Law is a technical professional, so there is separation between the level of understanding of clients and attorneys and even a language barrier. Clients receive a large bill for services without fully understanding the value that has been created. From our clients’ perspective, we stand out from the competitors because of our practical, technology based, casual, and fun approach to law. We don’t take ourselves too seriously, but we do take†¦show more content†¦Our expenses have also increased greatly during this time. We purchased an office in Boulder and we are undergoing renovations. We are also under LOI for a new leased space in Broomfield that we are designing. This is very capital intensive. At first, we were a start up and all clients were good clients. We did not have much internal structure nor a focus on marketing. We now need to develop a set of metrics that help assess the health of the business and find a way to fuse our informal culture with the benefits of additional structure. Being in a growth phase is a challenge, since our growth is faster than our sustainable growth rate, we must follow that with a dynamic approach and increased marketing efforts, and secure debt and equity financing. We are in the midst of many changes in response to this growth to attempt to maximize customer lifetime value, including adopting credit card payment integration, hosting promotional events, adjusting pricing models, charging interest to late paying clients, utilizing targeted marketing campaigns, growing our presence on social media and increasing automation. As we grow in number of employees, number of locations, amount of payroll, new expenses like 401k management and matching, 50% coverage for employees’ health care, bonus compensation, and increased marketing efforts, as well as large amounts of difficult to collect and overdue AR, we struggled to cover expenses. During thisShow MoreRelatedSwot - Pepsi and Coca Cola1142 Words   |  5 PagesSarbanes Oxley Act of 2002 The Sarbanes-Oxley Act of 2002 is a United States federal law enacted on 30th July 2002, also known as the Public Company Accounting Reform and Investor Protection Act of 2002 and commonly called SOX or Sarbox. This law was passed in response to a number of major corporate and accounting scandals including those affecting Enron, Tyco International, Adelphia, Peregrine Systems and WorldCom. 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