Sometimes it is as simple as two lawyers acting on obvious synergies and a law firm is born. Once the firm is birthed, the days are heady ones as basic startup chores are mixed with the never-ending pursuit of clients, doing good work and building an enduring reputation. Coming up for air can almost seem
Law Firm Health in Turbulent Times
Strength and growth come only through continuous effort and struggle. – Napoleon Hill
As the economy begins to show signs of volatility, it may foreshadow risk for many law firms. Additional market disruption may lead to challenges for firms of all sizes and in most practice disciplines.
In a Forbes article, Basha Rubin suggested that
Its Merger Season-Five Reasons for Your Law Firm to Think About Merger
Tis the season, but holidays are not involved. Rather, market forces, activity and trends confirm that law firm merger is on the minds of law firms. While mergers once seemed to happen mostly around the start of the year, the complexity of the merger exercise means mergers can happen at any time. And even for
Getting Ahead of the Game-Four Thoughts About Operating Successfully in Today’s Market
Every year about this time some of the major research and analytic minds focused on the legal services industry publish their annual reports or studies. Citi Private Bank/Hildebrandt Consulting LLC’s Client Advisory was released on December 14, 2017 and contains a wealth of information and perspectives about what happened in 2017 and what might
Failing Strategies and Law Firm Success
I recently finished a review of the 2018 version of the Georgetown University Law Center’s Report on the State of the Legal Market. Although the report contains numerous quantitative facts reflecting continued struggles for the law firm services market (falling productivity, realization and profit margins), I was intrigued by the commentary regarding strategy.
Five Steps for Preparing Your Law Firm for a Great Future
Predicting the future of the legal services industry is no easy task. The complexity of its landscape makes divining next year, let alone the coming years, difficult. Prophesying about the future, however, is not simply an academic exercise. It has practical importance because firms must develop sound strategies that can help assure future success. For
Four Steps for Driving Non-Equity Partner Performance Towards Equity Partner Expectations
Firms often find themselves with too many non-equity partners whose performance could and should be better. But because of a long string of promotion decisions and/or lax management, the non-equity partner pool is bigger than desired and its overall contribution to the firm is, in a word, disappointing. Indeed, many equity partners see this middle
6 Keys To A Healthy Law Firm – Food For Thought
For years, we’ve known two things about personal health: ‘We are what we eat’ and ‘We need to move more.’
Specific admonitions and instructions change, but the theme is consistent. The human body needs a balance of nutrient rich foods with a compliment of vitamins and minerals. And there are the things to avoid
Five Steps for Law Firms Wanting a Good 2018
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
Underperforming Law Firms Risk Failure
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