By Roger Hayse on Posted in Law Firm Growth,Law Firm Merger,Law Firm TransitionI had a recent discussion with Eric Fletcher, a talented marketing executive author of Marketing Brain Fodder about law firm growth and specifically revenue growth. The somewhat obvious conclusion was that law firms grow revenue in four ways, each with its own challenges and issues by. Raising rates Hiring “laterals” who come with a book… Continue Reading
By Roger Hayse on 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
By Roger Hayse on Posted in Law Firm Merger Often the conversation goes like this – “Hey Roger, we received a call from the firm of Smith and Jones. They are a pretty successful firm based in Timbuktu and they are interested in expanding here. They think we would be a perfect fit. Can your firm help us look at this opportunity?”… Continue Reading
By Roger Hayse on Posted in Law Firm Leadership,Law Firm Merger,Law Firm TransitionWe have discussed the substantial challenges associated with law firm mergers and their woeful success rate in previous posts. But a frequently overlooked piece of a successful merger — an element that warrants serious attention — is a comprehensive integration plan. Combining two groups of people, their clients, processes and systems is a daunting task… Continue Reading
By Andrew E. Jillson on Posted in Law Firm Growth,Law Firm Merger,Law Firm TransitionMerger 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
By Andrew E. Jillson on Posted in Law Firm Growth,Law Firm Leadership,Law Firm MergerLaw firm growth gets a lot of attention. Among the various approaches to law firm growth is the tactic of merger. Almost weekly we are treated to another announcement about two law firms fulfilling their desire to grow by combining. And although law firm mergers have been part of the landscape for years, since the… Continue Reading
By Andrew E. Jillson on Posted in Law Firm Crisis,Law Firm Merger,Law Firm Repositioning/Turnaround/Restructuring,Law Firm TransitionThis is the first of two installments that examine the changing landscape of distressed law firm acquisitions and how recent developments may encourage healthy firms to pursue struggling firms like never before. Last week, the long-anticipated Morgan Lewis acquisition of a core component of Bingham McCutchen’s practice was announced. Described as a mass lateral acquisition as opposed… Continue Reading
