One of, if not the key responsibility of a law firm leader is ensuring that the viability of the firm is not threatened. No doubt, one of the primary threats to law firms today is excessive debt.
Clearly it is a rare business that functions without incorporating some form(s) of debt as part of
Law firms today and in the future must deal with a shifting legal services market that makes succession a more formidable task. Succession is not simply finding a way to deliver the gold watch with dignity and promoting firm-wide acclamation for the new leader. No, it is a lot more as recent reports and analyses
Law firm succession, whether leadership or client focused, has been an issue for law firms for a long time. Recent articles written about the legal industry suggest that succession will be different if not more difficult in the future.
At the risk of waxing about the “good old days,” it is arguable that operating a
Aric Press’ recent piece on lawyer retirement is excellent in identifying some of the subtle challenges for law firms dealing with Boomer departure. Press’ Is it Time for You to Go, Joe? describes the difficult conversation faced by law firm leadership seeking to transition senior lawyers and their practices. Press goes on to observe
Somewhere along the line the idea of being held accountable began to be viewed as punitive. Paying the price.
Certainly this is part of the equation; but accountability is a much greater concept than merely calling one (or a group) to account for decisions and deeds.
Today’s most effective leaders know this, and successfully
In a newly posted piece, Casey Sullivan‘s Law Firm Mergers Reach Highest Point in Nearly a Decade reports that 2016 is to be yet another record year for law firm mergers. As the cascade of announcements show (as well as the Altman Weil research compiled in its Mergerline), merger as a law firm
To merge, or not to merge? That is the question. More and more law firms face that issue these days. We often advise law firms facing that watershed possibility and take them from considering merger in the abstract to addressing its reality. But because roughly 50% of mergers reportedly fail, properly evaluating a potential
Sara Randazzo’s recent How Can Law Firms Increase Revenue? Charge More reported about some law firms dealing with revenue demands by increasing the rates that they charge. Increasing 
rates, especially at a time when demand for legal services is tepid at best, seems counter-intuitive. But for some law firm leaders, the need to
As staid and conservative lawyers and their profession may seem, it is undeniable that change is a part of their world. The change that has confronted the legal profession since the collapse of 2008 has garnered a lot of press, but lawyers and their firms have had to adjust to an altering world for a
Unexpected lawyer departures from a law firm are a far too common occurrence as noted by Above the Law’s recent reporting on K&L Gates. It can happen at any time during the year but many times peaks around the end of a fiscal year. Whether it be disappointing financial results, political infighting, loss
