Value Calculator — Practice Smarts

Your Firm

Firm profile

Annual firm revenue$1.2M

Fee earners5

Support staff3

Avg. billing rate (fee earner)$450 /hr

Support staff cost$45 /hr

Program assumptions

Hours saved per person, per week4 hrs

Recovered hours converted to billing60%

Not every recovered hour becomes a billed hour — some becomes breathing room, thinking time, or professional development. Set this to what feels realistic for your firm.

Team absence coverage days / yr20 days

Departure cost model

Fee earner departure

Advertising spend per hire$2,500

Owner interview & selection hours5 hrs

Admin interview & process hours10 hrs

One departure avoided every3 years

Admin staff departure

Advertising spend per hire$1,500

Owner interview & selection hours3 hrs

Admin interview & process hours5 hrs

Fee earner hours absorbed / day — slowdown0.5 hrs

Fee earner hours absorbed / day — ramp-up0.75 hrs

One departure avoided every3 years

Estimated Annual Value

— per month

— per person, per year

Value as a share of revenue—

—

Recovered time

at 60% conversion

Absence coverage

Fee earner departure (annualised)

Cost per departure

Advertising—

Owner time—

Admin time—

Slowdown — 2 mths, 50% output—

Ramp-up — 3 mths, 35% output—

Total per departure—

÷ 3 years—

Admin departure (annualised)

Cost per departure

Advertising—

Owner time—

Admin time—

Slowdown absorption — 2 mths—

Ramp-up absorption — 3 mths—

Total per departure—

÷ 3 years—

Value breakdown

Recovered timeAbsence coverageFee earner departureAdmin departure

What Practice Smarts Costs

Practice Smarts costs between $2,500 and $3,000 per month. Compare that to the number above. If after the first month the value isn't clear, we stop — no further commitment, and you keep everything we've built.

Fees vary by firm size and scope. The standard engagement runs six months — enough time to design, implement, and embed meaningful change.

Your exposure

$2,500

One month.
That's it.

Methodology. Based on 48 working weeks per year and 65% billable utilisation (~113 billable hours per month). Recovered time applies the conversion rate to reflect that not all saved hours translate directly to billing — the remainder represents breathing room, professional development, and improved quality of work. Absence coverage assumes a 30% improvement in handover efficiency. Fee earner departure uses a lost billing model. Admin departure uses a fee earner absorption model, costed at the billing rate. Working days per month at 21.67. All figures are estimates intended to illustrate order of magnitude; actual outcomes will vary by firm.

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practicesmarts.com.au

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