Managing Law Firms in Transition

Managing Law Firms in Transition

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A Strategy For Law Firm Survival (Even When The Market Pushes Back)

Posted in Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition, Uncategorized
  Recent reports on the legal profession reinforce what most realists already knew; market forces continue to apply significant pressure on law firms. Two forces at work in the marketplace show no signs of easing any time soon: the demand for legal services on one hand, and on the other, the (over) supply of lawyers… Continue Reading

Time for a Law Firm Tune-Up??

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition, Uncategorized
  The November edition of The American Lawyer includes an interesting article by Aric Press titled “Big Law’s Reality Check”. The article has implications for law firms of all sizes. Press provides much fodder for thought; but these points, in particular, struck me as telling: Since 2007, revenue per lawyer has been dropping for the… Continue Reading

Merging with Goliath-Key Considerations for the Smaller Law Firm

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Merger, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition, Uncategorized
News about the search for a merger partner by Bingham McCutcheon has been in the media the past few weeks. If the search leads Bingham to the altar, its transaction likely will be among parties equally sophisticated and aware of the intricacies of law firm merger. After all, Bingham owes its current size to a… Continue Reading

Shutting Down the Law Firm in Decline

Posted in Law Firm Leadership, Law Firm Liquidation, Law Firm Repositioning/Turnaround/Restructuring, Uncategorized
Some of us think holding on makes us strong, but sometimes it is letting go. – Herman Hesse   This is the final post in a series examining law firm decline, inspired by the Jim Collins book, How the Mighty Fall. See the previous four post: Overconfidence and Law Firm Decline, Aggressive Growth and Law… Continue Reading

Aggressive Growth and Law Firm Decline

Posted in Uncategorized
Don’t confuse cause with coincidence. – W. Edwards Deming   This is the second in a series examining law firm decline. Part 1 — Overconfidence and Law Firm Decline can be seen here. In Jim Collins’ book How the Mighty Fall, he describes phase two of business decline as “Undisciplined Pursuit of More.” When it comes… Continue Reading

The Troubled Law Firm – Part 4 – Planning and Executing the Turnaround

Posted in Law Firm Crisis, Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition, Uncategorized
Nations, like stars, are entitled to eclipse. All is well, provided the light returns and the eclipse does not become endless night. Dawn and resurrection are synonymous. The reappearance of the light is the same as the survival of the soul. Victor Hugo This is the fourth part in this series on Turning Around the… Continue Reading

Law Firm Merger Diligence-Are the Compensation Systems Compatible?

Posted in Law Firm Growth, Law Firm Leadership, Law Firm Merger, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition, Uncategorized
Last week was noteworthy because two major anticipated mergers were called off; Orrick/Pillsbury due to reported conflicts and Dentons/McKenna for what may be best described as “cultural reasons.”  But even if there were no conflict issues and cultures meshed well between two firms, most proposed mergers won’t get to a closing if their respective compensation… Continue Reading

Part 2 – Law Firm Decline and Leadership Mistakes

Posted in Law Firm Leadership, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition, Uncategorized
  It’s common sense to take a method and try it. If it fails, admit it frankly and try another. But above all, try something.”– Franklin D. Roosevelt   Last Tuesday Part 1 of Law Firm Decline and Leadership Mistakes was published. In today’s post we look at the other two leadership errors that lead to… Continue Reading

What is a Law Firm in Transition

Posted in Law Firm Crisis, Law Firm Liquidation, Law Firm Repositioning/Turnaround/Restructuring, Law Firm Transition, Uncategorized
  The heaviness of being successful was replaced by the lightness of being a beginner again, less sure about everything. It freed me to enter one of the most creative periods of my life.  — Steve Jobs Welcome to our blog – Managing Law Firm Transition – Thoughts on Leading High Consequence Change. There is no… Continue Reading
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