Managing Law Firms in Transition

Managing Law Firms in Transition

Category Archives: Law Firm Growth

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The Makings of an Exceptional Law Firm Leader

Posted in Law Firm Crisis, Law Firm Growth, Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring
A few weeks ago I shared some thoughts on the pivotal role leaders play in a post titled, “The Role of Leadership in Law Firm Success or Failure.” In today’s post, in an effort specifically designed to help identify the quality leader, I want to point to what we believe to be clear leadership characteristics.… Continue Reading

Five Common Mistakes Law Firms Make When Entering a New Market

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Transition, Law Firm Warning Signs
A dynamic law firm growth tactic involves opening an office in a new geographic market.  To move a firm into virgin territory requires careful thought about issues that go beyond simply hiring new lawyers.  Indeed, expanding a firm’s footprint requires many considerations, including good intelligence about the new market’s practice characteristics, bar personality and mores,… Continue Reading

Improving the Odds with Law Firm Expansion

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Merger, Law Firm Transition
  Virtually every week brings news about law firm expansion.  The news is exciting and of great interest in and out of the legal services industry. Although the firms that report lateral hires, mergers and acquisitions and new office openings are pleased with their news to share, the passage of time proves that not all… Continue Reading

How Do You Measure Successful Law Firm Growth?

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Merger
  I have shared numerous posts focusing on the dismal performance associated with non-organic law firm growth — that is, growth achieved through merger or lateral hiring. An excellent recent post by Eric Dewey, has prompted me to focus on a critical aspect of the lateral/merger conversation. Peter Drucker, (credited as the founder of modern… Continue Reading

Improving Your Law Firm’s Growth Prospects-The Importance of Discipline

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Merger, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition
  For many law firms client expectations, increased competition (from traditional and non-traditional sources) and unreliable demand present formidable challenges. These challenges can be compounded as a firm’s senior lawyers age and succession gets added to a firm’s “to do” list. Some firms have responded to these issues by growing through lateral hiring or merger… Continue Reading

Law Firm Merger Today-Aligning the Cultures

Posted in Law Firm Growth, Law Firm Merger, Law Firm Transition
Merger is a frequent law firm activity, especially in recent years. Based on a recent review of Altman Weil’s MergerLine, over 600 mergers and acquisitions have closed since 2007. While not all the deals identified by MergerLine have been true mergers, many of the “non-mergers” nonetheless have been significant because they represent the near full… Continue Reading

Preparing Your Law Firm for the Future-Don’t Confuse Tactics with Strategy

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Transition
Superficial solutions to the long-term challenges law firms face are seldom lasting. The right answers only come through disciplined strategic thinking that projects beyond a looming horizon. Unfortunately, some thinking in the guise of being strategic is anything but. And for the law firms trying to position themselves past that horizon, misinterpreting motion for progress… Continue Reading

Law Firm Lateral Hiring: Preparing for the Upcoming Free Agent Season

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Transition
As law firms prepare for the last half of 2016, the ingredients for the lateral hiring stew are being added. Firm and individual lawyer performance on the year, bonus expectations and realization, internal law firm management and politics-all will be factors in determining individual lawyer contentment. The same factors, viewed from management’s perspective, will drive… Continue Reading

Managing Excess Law Firm Growth-Spinning Off the Struggling Office

Posted in Law Firm Crisis, Law Firm Growth, Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition
Law firm growth is a popular strategy or tactic among law firms seeking to compete in today’s ultra competitive legal services market.  Growth often is achieved through mergers, practice group acquisitions and lateral hiring.  And in some cases, the growth initiatives result in new offices being opened in markets previously not served.  New offices create… Continue Reading

Moving Laterally? – Being Careful is More Important Than Ever

Posted in Law Firm Growth, Law Firm Transition
 Movement of attorneys between law firms is as robust as ever with today’s lateral hiring not just focusing on the hiring of individuals. Firms seeking to fill out capabilities often hire away groups of lawyers in an effort to gain some velocity from their expansion strategy. True mergers, especially when a large firm is eyeing… Continue Reading

Law Firm Merger-Four Rules to Follow

Posted in Law Firm Growth, Law Firm Merger, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition
Mergers between law firms garner headlines. Just last week, Kansas City’s Husch Blackwell was in the news when it announced that it was merging with Whyte Hirschboeck Dudek S.C., a Wisconsin based business and litigation firm. The merger comes less than year after Husch Blackwell’s Chairman Maurice Watson described the firm’s newly adopted strategy of… Continue Reading

What is a Law Partner

Posted in Law Firm Growth, Law Firm Leadership
Another year and more turmoil in the legal industry! Although the improving economy has led to improved performance for some law firms, for many (most?) the disruptions in the legal industry continue to create serious challenges. As firms continue to search for a path back to health, there will almost certainly be an unfortunate number… Continue Reading

5 Easy Steps to Destroying a Perfectly Good Law Firm

Posted in Law Firm Crisis, Law Firm Growth, Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring
It has become an all too frequent occurrence — the story of yet another law firm closing its doors. The headlines rarely convey everything — displaced personnel, inconvenienced clients, and the pain and disruption for the firm’s owners. What drives this result? How has this become almost commonplace? I believe any one of five things… Continue Reading

Law Firm Focus-When Positive Financial Performance Is Not Really Positive

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Transition
In a time of increased competition among law firms, a firm’s positive news, developments or performance always seems welcome. Peer recognition for the firm is nice. Likewise, having clients show confidence in the firm by hiring it again and again naturally is a boost of confidence. And climbing revenues and profitability is almost always viewed… Continue Reading
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