Instead of business as usual this year, I invite you to consider managing your firm like it's a business instead of a law firm: through business goals and plans. Most law firms only have a general sense of what they want to accomplish this year as a business. Earn more revenues. Grow our client base. [...]
Client teams may be one of the most powerful business development tools at your disposal, but are an oxymoron to most lawyers. As a profession, lawyers aren’t usually known for being team players. By nature, they are individual thinkers and doers. They like their autonomy, and tend to feel that too many rules restrict their [...]
The purpose of any business is to be profitable, and provide conditions for a satisfying work experience for those who work there. The collective intelligence within a law firm should make these goals a slam dunk; unfortunately, in many ways the culture of the typical law firm works against its financial success. See if any [...]
Law firm marketers have been fundamental to the establishment and management of many law firm practice groups and client teams in North American law firms. Critical to the success of these efforts has been the ability to help train team members in their respective roles. Toward the end of my time in-house, I conducted research [...]
In 2016 I attended an event that allowed me to hear, for the first time in person, from business writer Tom Peters. My first impression was that he’s reached an age where he really doesn’t care about what people think of him – he just tells it like he sees it, which is refreshing. His [...]
The ability to rise in a law firm is – let’s face it – very closely related to productivity. But to move into the real power positions of any organization, including a law firm, you need to show that you can think and act strategically. What would this look like in practice? At a recent [...]
Better business results can only be achieved by a change in process or behaviour, so change management is mandatory in law firms. Yet ironically, partners are the ones who most often stand in the way of change. Law firms hire me to help create a strategic plan for their future. They also hire me [...]
Unhappy lawyers don’t hate the law; it’s often that they suffer a lack of ability in one or more of the many other areas that are required of a great lawyer. Here’s an inventory of the capabilities great lawyers need. Spring is the season for planting. We prepare the soil, we put in seed, we [...]
Now that many law firms have woken up to the value of strategic and marketing plans, it’s time to adjust their compensation systems to motivate lawyers to help achieve those business goals. It makes sense that if you want a group of people to achieve a goal, you reward behaviours that are most likely to [...]
It doesn’t matter how much money the professions spend on programs to keep their people – good people are still leaving in droves. We need a change of strategy. Professional services attrition rates are atrocious, in two ways. First, far too many professionals leave a firm before or in the early stages of partnership. For [...]