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Roger Hayse is a founding Director of Hayse LLC. For 30 years he has closely advised law firm management and legal industry service providers. His career is highlighted by consistently providing the counsel and leadership critical to successful law firm transitions. He is a frequent writer and speaker, and authored the 2002 book "Law Firm Strategy".

The economic turmoil driven by the coronavirus has impacted virtually every law firm — some more significantly than others. Unfortunately, the pain has only begun for many. The demand for many transaction related practices is likely to be off for an extended period, and though most expect demand for litigation services to be steady, the

The COVID-19 pandemic has had an enormous impact on businesses world-wide. Law firms have been no exception. A relative handful of firms are enjoying an increase in demand for their services. For these firms, primary challenges relate to maintaining a safe work environment.
For many firms, however, the business disruption includes a decline in work

As law firms (and businesses generally) confront the growing financial challenges associated with the Covid-19 crisis, a plan for an escalating response is necessary. The appropriate answer for a particular law firm will depend on its current and projected condition and its culture, but consider the following as you develop your plan.

Government assistance

During periods of crisis and economic uncertainty, the old saying “cash is king” is the appropriate mantra for most businesses. Maintaining the liquidity necessary to stay in business is now job #1 for law firm leaders.

To say that the economic fallout associated with Covid-19 is causing a decrease in cash inflow is an enormous

The phrase “extraordinary times” is an understatement when it comes to describing these days as each of us is forced to focus on new ways to achieve personal and business survival. As law firms attempt to envision a path through this crisis, a new working relationship with vendors should be considered as part of the

The vast majority of law firms are already or in the throes of or are about to experience a marked decrease in revenue, whether to closed courts, stalled transactions, or simply because clients are pulling back and paying more slowly.

For a very small minority of law firms declining cash balances aren’t a problem thanks

These are exceptional times for all of law firms. Staying safe and assuring good health is of paramount concern.  But for all but a few firms, these times also will test leadership as it seeks firm stability in uncharted waters.

In crisis,  leadership must  be seen and heard,  manage cash flow/liquidity prudently, and confront tough

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