Spectacular law firm failures like Dewey, Brobeck and Howrey (to name a few) provide many lessons. They also evidence leadership’s failure to timely recognize or act on problems so as to avoid disaster. Due to the fragile nature of law firms, it is imperative that prompt action be taken lest a troubled firm’s problems
Profits Per Partner – Part 2: A Brief History
Profit is sweet, even if it comes from deception. — Sophocles
This is the second in a three part series on the topic of Profits Per Partner, see Part 1 here.
The evolution of the US legal profession was measured and steady for more than 200 years — from 1776 to 1985. Firms
The Troubled Law Firm–Five Fundamentals to Managing Through Crisis
Disruption in the legal services market presents challenges to many law firms. Most firms are able to adjust when unplanned developments or market pressures adversely upset operations or performance. Recent news reports about a couple of law firm management initiatives reaffirm the ability of most firms to react to market changes on a timely basis.
Profits Per Partner – A False God for Law Firms – Introduction
When something becomes so important to you that it drives your behavior and commands your emotions, you are worshipping it.― J.D. Greear
Introduction
Performance measurement and the use of related metrics is pivotal to managing the successful development of any business enterprise. However, for the metric to be of value it must provide insight
Law Firm in Crisis: Staring Down the Catastrophic Claim (Part Two)
In last week’s blog, we reviewed the dire circumstances faced by Kaye Scholer and Jenkens and Gilchrist that rendered the short-term survival of each questionable. Against significant odds, each resolved apparently unmanageable claims. But how? For both firms, the ability to face daunting claims yet live to another day is attributable to five key
Working Smarter-Law Firm Professionals
Technology is nothing. What’s important is that you have a faith in people, that they’re basically good and smart, and if you give them tools, they’ll do wonderful things with them.
Steve Jobs- Rolling Stone Magazine June 94
Allen Fuqua is a long-time friend, former colleague and an extraordinary law firm Chief Marketing Officer.
Law Firm in Crisis: Staring Down the Catastrophic Claim (Part One)
From time to time, a law firm stares down a claim or series of claims that threaten the law firm’s very existence. These claims can arise from any number of circumstances but are potentially so large that an adverse outcome will exceed the firm’s resources and likely lead to its demise. Due to the fragility
Closing the Troubled Law Firm-Picking the Right Team
Closing a law firm is a formidable task. The existing management team, prepared for running a going concern, is often unprepared for the various challenges that arise as the firm is wound down. Even though it is advisable for a closing firm to obtain outside assistance, a small but dedicated group from the firm must
Five Indicators of Law Firm Trouble
Don’t waste your time trying to control the uncontrollable, or trying to solve the unsolvable, or think about what could have been. Instead, think about what you can control and solve the problem you can solve with the wisdom you have gained from both your victories and your defeats in the past. – David Mahoney