At a growing number of law firms, the Boomer generation is reaching the age when retirement among the ranks has partners leaving in increasing numbers. Recent writings, including Debra Cassens Weiss‘ As Baby Boomer partners retire, law firms face increasing costs and client issues, have noted the numerous and significant financial issues for
The Bullseye and Law Firm Success
“Focusing is about saying No!” Steve Jobs
I was reviewing an article regarding the an Annual America’s Best Corporate Law Firms study and was struck with how consistent the same names appear on this list — year in and year out. Even if you haven’t seen it, chances are you can name many of
Adapting and Law Firm Survival
The measure of intelligence is the ability to change – Einstein
Adapting to change – At first blush the need to adapt is so obvious there would seem to be no need to discuss it. Then we see firm after firm, small to large, fail because of their failure to adapt. So, lets discuss
Managing Excess Law Firm Growth-Spinning Off the Struggling Office
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
Denial and Turning Around The Troubled Law Firm
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:
- undervaluing the risk associated with a significant undertaking; or
- disregarding mounting evidence of decline.
Denying the Risk Associated With
Lexit: How to Respond to Lawyer Exodus from Your Law Firm
Modest attrition at law firms is to be expected-it happens continually and few firms are exempt. But when the lawyer departures spike, or the particular resignations are from your most important lawyers, management must respond quickly.
Lawyer departures don’t just happen for any reason. Unexpected and damaging departures often can be traced to problems a
Is Your Law Firm Slipping Into Trouble
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
Addressing Your Law Firm’s Declining Demand Through Change-Five Considerations
Although pockets of law firms are enjoying increased demand, revenues and profitability, the general news about the industry as a whole is tepid. A recent article by Chris Mondics about law firm financial performance cites a common problem these days of law firms lacking enough work to keep their lawyers busy. The article (drawing on
Practicality and Law Firm Strategy
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:
- Getting the word out regarding the firm’s reputation. Reportedly, the firm has an excellent reputation with existing clients and the
Hiring Ross As Your New Associate-Five Additional Steps for Law Firm Innovation
The march of change and innovation in the legal services industry continues. Last week it was reported that Baker Hostetler has licensed “Ross” for its bankruptcy group. Baker Hostetler’s decision to use the Ross Intelligence artificial intelligence product to perform some of the basic functions traditionally the role of associates is innovative and signals change.