Laurence Whittam | How to Prioritize Your People While Cutting Expenses in a Turbulent Market

Laurence Whittam

Laurence WhittamLaurence Whittam is a Business Advisor with Anchin, regarded as one of the “best of the best” accounting firms in the country. He is also a Profit Enhancement Leader for CostMarc, a consulting group affiliate of Anchin. Fresh out of college, Laurence was chosen to launch the American subsidiary of a UK firm, growing the company from a startup to a thriving business with $2 million in annual revenue in just five years. Since then, he has worked with over 250 professional service firms and has produced yearly savings of over $7.5 million across his clients.

Laurence is an authority on what a business should and should not outsource in order to stay efficient and effective. When he’s not helping to implement strategies for profit enhancement, he volunteers with the KinderSmile Foundation and spends time with his wife and daughter.

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Here’s a glimpse of what you’ll learn:

  • Laurence Whittam’s background and how he ended up launching a US subsidiary startup at age 22
  • Laurence’s early strategy when growing the business: trial and error
  • Why lawyers are often a step or two behind accountants in terms of business development and marketing
  • Expense reduction and what law firm owners and administrators need to know
  • The importance of a neutral view when working with vendors
  • Expenses that law firms should not be outsourcing
  • How CostMarc works and what an expense reduction company can do for you
  • The advice Laurence is giving his clients on how to come out of the pandemic in a strong position
  • Laurence explains the benefits of investing in your work culture

In this episode…

When you hear the phrase “expense reduction,” what is the first thought that pops into your head? Did you think of layoffs? Or, did the idea of cutting technology or letting go of some work culture comforts cross your mind?

According to Laurence Whittam, none of these should get the ax. In his work as a Business Advisor and Profit Enhancement Leader, Laurence has learned that the bottom line isn’t as clear cut as it may seem. That’s why his mission is to help companies reduce expenses in a way that optimizes their operations and transforms the way they do business.

In this episode of The Lawyer’s Edge, Elise Holtzman sits down with Laurence Whittam, Anchin Business Advisor and the Profit Enhancement Leader for CostMarc. Together, they talk about expense reduction and what that should look like for your law firm. Laurence also shares the importance of relationship building and an inclusive work culture, and his thoughts on why lawyers are a few years behind accountants. Keep listening.

Resources Mentioned in this episode

    Sponsor for this episode…

    This episode is brought to you by The Lawyer’s Edge, a firm based in the New York metropolitan area founded by Elise Holtzman in 2008 to help lawyers become skilled business developers and leaders so that they can grow their practices, retain top talent, and step confidently into leadership roles.

    The firm offers customized coaching, consulting, and training programs such as their signature business development program, Lawyers Making Rain.

    Now more than ever, it’s not enough to just do good work and hope your law firm will thrive. And no matter how smart and hard-working you are, it can be time-consuming and overwhelming to figure it all out by yourself.

    To learn more about how we help lawyers become rainmakers and leaders, visit TheLawyersEdge.com or email us at podcast@thelawyersedge.com.