For law firm leaders closing in on the end of 2017, there is no rest for the weary. They are working hard to finish the year off well. Collecting bills, distributing profits, retaining talent are just a few of the things on their to-do lists.
Even if 2017 turns out positively, it is no guaranty
The measure of success is not whether you have a tough problem to deal with, but whether it is the same problem you had last year.
— John Foster Dulles
Former Secretary of State
We’ve Got Trouble…With A Capital “T”
Most law firms go through a similar cycle. Initially partners share an
There is much to do when a law firm closes out its year. Getting bills out, collecting receivables, paying bonuses, and distributing profits are but a few of the things that get the attention of leadership. As long as the firm’s year has moved along normally, finishing up strong often is the main focus of
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
The legal services market is as competitive as ever-ask any law firm leader. More clients are bringing work in-house or turning to alternative providers. Law firms know that and fight fiercely over what is left. Lawyers thinking about starting their own firm see the robust competition as well. Whether established or just getting started, law
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
Law firms look around and see that the attorney pyramid structure is crumbling or gone. In its place is an indistinct shape that often includes an oversized group of experienced lawyers not worthy, at least yet, of ownership. Depending on the firm, the contribution of these lawyers can vary. Some firms enjoy great financial
If people like you, they’ll listen to you, but if they trust you, they’ll do business with you. – Zig Ziegler
A number of things can cause one to land in a law firm leadership position; such as success in building a legal practice, ability to build consensus and advance initiatives or even political
Law firms come in all shapes and sizes. Some consciously specialize in distinct areas of the law while others are more reactionary-willing to do anything they feel generally competent to do. Firms can be local in scope, only serving a home town populace from its home town address. Geographically expansive law firms can have a
Law firm innovation. The idea of innovation is lauded, discussed and encouraged. When it happens, either through technological advances, the launch of a start-up alternative service provider, or the unveiling of an approach never thought about before, the legal services industry takes note. In an industry searching for a new stability after 10 years of
