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
More Innovation for Law Firms Coming-How it Will Change Your Practice
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
Lawyer Exodus From the Law Firm: Don’t Get Mad, or Even, Get Focused
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
Why Do You Want To Grow Your Law Firm?
Ask the Managing Partner of any 100 law firms to list their top 5 objectives for their firm, and 99 or more will say something that relates to growth in the number of lawyers, locations or practice disciplines.
Ask the same Managing Partners what is driving the need for this expansion and the response will
Meeting the Challenges Ahead: Law Firm Success in Transitional Times
For followers of the law firm industry, there never is a shortage of opinions about its current state or what the future holds. True to form, the recent publication of Professor Ben Barton’s Glass Half Full: The Decline and Rebirth of the Legal Profession is a provocative take on where the law firm world
Law Firm Decline and Leadership Mistakes
“It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.” – Charles Darwin
These days, scarcely a week passes without news of another law firm in decline. From high-profile names to less-known partnerships, the leaders of each face
Law Firm Succession Planning 2015: Leadership’s Hidden Challenge (Part Two)
As discussed in my last post, Law Firm Succession Planning 2015: Leadership’s Hidden Challenge (Part One), the confluence of upbeat economic news with generational differences in the lawyer ranks presents a problem for law firm leaders not having an institutional succession plan. The issue is not just theoretical-Altman Weil’s 2015 Law Firms in
The Law Firm Lease and Testing Shared Aspirations
Other than when a firm is being formed, there is no better or more organic time to test a law firm’s continued commitment to one another than when nearing the expiration of an office lease.
Typically, when a firm is formed, two or three or a handful of individuals gravitate to one another, become increasingly
Debt and the Prudent Law Firm
The reality of today’s law firm marketplace is that debt is a tool used to fund and manage:
- Fluctuations in collections;
- Purchase of fixed assets (furniture, equipment and leaseholder improvements);
- Growth and
- Partner compensation.
The challenge is to use the debt tool wisely.
To this end, we often hear some variation of two
Law Firm Succession Planning: An Alternative
Leon Shapiro’s recent “How to Improve Your Organization’s Succession Planning” in Executive Street: The Business Leader’s Resource, reviewed the state of succession planning among many business organizations. Mr. Shapiro’s article noted the near universal recognition of its importance among business leaders, yet their confession that in many cases not enough is done for