Managing Law Firms in Transition

Managing Law Firms in Transition

Category Archives: Law Firm Growth

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What Makes A Great Law Firm

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition
Greatness is not a function of circumstance. Greatness, it turns out, is largely a matter of conscious choice, and discipline.― Jim Collins During a re-read of the Jim Collins classic “Good To Great”, I was struck by the profound difference discipline in decision making could have on law firms. One of the glaring areas where… Continue Reading

It’s November – Create A Stronger Law Firm in 2018

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition
Most firms are in the final stretch for this year, wrestling with collections, budgets, promotions and compensation decisions. All of these are important activities. But, while focused on wrapping up 2017 let me suggest one more subject that deserves attention — something that stands a chance of making a real long-term difference. I suggest that… Continue Reading

Finding the Right Law Firm Merger Candidate-Five Fundamentals

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Merger, Law Firm Transition
Law firm mergers are a regular occurrence in today’s American legal landscape.  Large or small, they happen because law firms and their leaders see merger has meeting a perceived need.  Whether seeking greater market share, pursuing untapped lucrative markets, responding to a demographic challenge, or fixing inadequate succession preparations, a merger can represent the right… Continue Reading

Considering Law Firm Merger? Four Disciplined Steps to Getting It Right

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Merger, Law Firm Transition
In the case of many law firms competing in today’s legal environment, growth is important.  Some growth is done quietly while other expansion is discussed widely.  Growth in the form of law firm merger gets everyone’s attention-indeed announcements about law firms joining together in merger seem to be made weekly. For every merger announced there… Continue Reading

To Merge or Not To Merge – What’s A Law Firm To Do?

Posted in Law Firm Growth, Law Firm Merger, Law Firm Repositioning/Turnaround/Restructuring
Merger mania continues in the legal sector. According to Altman Weil’s MergerLine, there have been more than 50 law firm mergers in the US so far this year; 2017 could well be a record year for law firm combinations. The odds are high, whether your firm has been engaged in merger discussions in the past, it… Continue Reading

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
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