The phrase “extraordinary times” is an understatement when it comes to describing these days as each of us is forced to focus on new ways to achieve personal and business survival. As law firms attempt to envision a path through this crisis, a new working relationship with vendors should be considered as part of the
A law firm in crisis is in a different world—a world in which leadership must learn to adapt. It is a place that requires thinking differently, acting decisively, and making choices count. In battling crisis mistakes inevitably happen, but successful crisis leaders keep the number and magnitude small. A law firm leader flexes brain muscles
Recent years have been good for law firms of all kinds and sizes. But good days can’t last forever. Whether the next downturn hurting law firms gets traced to a world-wide virus, political disruption, or just a plain old recession, it doesn’t really matter. What matters for law firms having to ride the looming bumpy
Don’t waste your time trying to control the uncontrollable, or trying to solve the unsolvable, or think about what could have been. Instead, think about what you can control and solve the problem you can solve with the wisdom you have gained from both your victories and your defeats in the past. – David Mahoney
According to many law firm leaders, having a good law firm culture is a key to sustainability. Not infrequently leaders attribute their firm’s culture for the success enjoyed. When new mergers are announced or reviewed, the importance of compatible cultures gets top recognition. And when law firms fail, the impact of a dysfunctional culture reaps
Law firms and the economy
Many or even most law firms are coming off their best year ever. It may be a time to celebrate, but I continue to think about the inevitable bursting of the bubble. Yesterday I was catching up on some long-overdue reading and came across this Forbes article by Mark Cohen
While law firm change is scary, in today’s evolving legal services market the absence of change may be scarier. Law firm leaders don’t need to read expert’s opinions about the quickly moving marketplace, they see it close-up as competitors proliferate and competition intensifies. Simply standing still by relying on tried and true practices is not
The global consulting firm, McKinsey and Company, recently released a number of articles related to research they have done on transforming businesses. One in particular, Why your next transformation should be ‘all in’, resonated with me.
In summary, the article presents a persuasive argument suggesting“all in” transformations— initiatives that address both services (or products)
For a lot of law firms, “business as usual” is like a favorite pair of shoes-they seem to fit and sure feel comfortable. When that is the case, falling back on usual practices continues as long as there is no pressure to change. But once a watershed event occurs that shakes the foundations of management
In an earlier blog, Law Partner Retirement in Place—Solving Won’t Work/Won’t Leave (Part One), we presented the vexing problem of having a partner that slows down workwise but still draws a full partnership share. Unfortunately, this upsetting situation exists at more firms than are willing to admit. While eliminating the awkwardness the abuse represents
