Talk of transitions and succession planning is something we are all familiar with right now. The demographics within many law firms make these areas of focus critical for future success. While most of these conversations...more
As suggested by the question marks in the title, this following post is intended to be a thought-piece…not a recommendation for the entire legal industry.
Most law firms I know do not offer sabbaticals as a benefit to...more
On a recent business trip to Latin America I witnessed an interesting everyday event that directly speaks to the value of leadership when dealing with a group of strong personalities. As I was walking along a park I saw a...more
Rhetorical question – a question asked solely to produce an effect or to make an assertion and not to elicit a reply (dictionary.com)
The business of law continues to change dramatically and law firm leaders constantly...more
Many law firm leadership teams are making key decisions today that will determine the long-term success or failure of their firms. The current mix of pressures on the rapidly evolving legal business model (e.g., client...more
In my last blog I posed a simple question – is your firm’s culture putting your firm at risk? My thoughts at that time were built entirely from the law firm perspective and were focused on internal issues and lawyers’...more
While I acknowledge the vital role that culture plays with respect to defining each law firm’s working environment, creating expected behaviors, and establishing a “glue” among the lawyers, I am increasingly seeing law firms...more
There are many positive aspects to prospective Partner compensation systems but they have one glaring weakness that many law firm leaders wrestle with – what to do with a Partner who appears to be “coasting” and taking...more
Last month I posed the question, “What if you didn’t hit budget in 2016?” This month, I want to look forward into 2017 and offer some prospective advice to help leadership teams either hit budget or optimally manage...more
As we continue to review and dissect 2016, something feels a little different to me. My recent conversations with law firm leaders suggest that the winners and losers (of market share) phenomenon that we first identified...more
At about this time last year, I wrote a blog about 10 Projects That Can Produce Big Results in 2016. My goal was to get each reader’s firm to focus on one signature project from a “menu” of options that would have a positive...more
In July, I wrote a blog entitled Who Will Be the Owners of Law Firms in the Future. My goal at that time was to start to share my prognostications on where the business of law is going and what the law firm of the future will...more
One of the many painful lessons learned by the legal industry from the recession is that the key to economic success is a focus on profitability…not just revenue. Far too many firms were focused solely on fees generated with...more
We are often asked what we think law firms will look like in the future. What will the leverage model be? Will the Equity Partner class be larger or smaller? How will the changes in the business impact staffing? These are all...more
Over the past few months, we’ve dedicated much of our blog space to the significant challenges associated with succession planning in law firms. Variations of this topic come up in most current conversations with clients and...more
Last month I wrote about the succession planning challenges that many firms are, or will soon face. Based on what we’re hearing and seeing, there are a lot of law firms with a lot of client relationships and brainpower at...more
There is a well-deserved and surprising focus on succession planning within many law firms right now. The “well deserved” focus is justified because these firms are trying to bridge/balance the immediate needs and...more
Success often comes in a series of small steps…not one huge leap. Too many partnerships try to address too many challenges at one time. The net result is often very minor progress on all fronts and little overall progress....more