Hope is the denial of reality – Margaret Weis
As a law firm in decline continues to struggle, there are two primary scenarios in which denial furthers the rate, or degree, of decline:
Denying the Risk Associated With
One ought never to turn one’s back on a threatened danger and try to run away from it. If you do that, you will double the danger. But if you meet it promptly and without flinching, you will reduce the danger by half. Never run away from anything. Never!
The first key
This post was spurred by two recent articles/posts — Biglaw Firms Must Conduct More Layoffs, Before It’s Too Late, and A Law Firm Structure that Avoids Layoffs.
I have written before about the horrific performance of law firms when it comes to retention. Previous posts have discussed the enormous direct cost,
I was very encouraged by a recent Bloomberg article regarding Katten Muchin Rosenman. The piece describes the strategic priorities of Roger Furey, the newly-named chair of the firm. The three top priorities are:
Recently, I was asked if I was going to fire an employee who made a mistake that cost the company $600,000. No, I replied, I just spent $600,000 training him. Why would I want somebody to hire his experience? THOMAS J. WATSON SR.
How many lawyers have you watched move from one firm to
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
With the on-going market challenges associated with the legal profession, firm leadership is smart to periodically stop and evaluate the state of the firm. Is it in a transitional state?
Here are four questions that can help serve as a baseline diagnostic. Is your firm:
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
Leaders aren’t born – they are made. And they are made just like anything else, through hard work. And that’s the price we’ll have to pay to achieve that goal, or any goal. —Vince Lombardi
There has been plenty written about the difficulties associated with leading law firms. Much of the commentary relates
Bold headlines tend to focus on the spectacular failures. But consequential transition — even crisis — are equally traumatic for the small to medium sized law firm. Given the fact that fewer partners must carry the load, the impact across the smaller firm may be even more intensely felt.
If you are part of the
