Most firms understand the value of having their lawyers market: they just don’t know how to make it happen. So, they rely on the lawyers. They create a marketing plan requirement (or tie in marketing activity with compensation review) as a motivator for action. Then they sit back and wait until the end of the [...]
While law firms tend to be a relatively flat structure, there is usually a management structure that helps to guide things along. Typically, this includes a lawyer leadership team (a Managing Partner and potentially, an Executive Committee), practice or client team leaders if the firm is organized into teams, and an administrative team comprised of [...]
A large part of my practice is in helping law firms to create a strategic plan. A strategic plan is a road map that identifies the destination of a firm over a declared time period, and says something about how the firm will get there. Law firms have been late to the table with some [...]
Law firm managers need to be active, conscious and pro-active in their role. Management is not merely a title, it is a critical role that is seldom done well in a law firm. Law firms require a range of managers. These include professional managers such as Administrators, marketing or IT directors and the like. But [...]
Change is a reality of business. Client needs shift; legal expertise shifts due to retirements and new hires; legislation and case law create new opportunities and close down previous legal practises. Change is hard for most people, but particularly for lawyers. The lawyer personality doesn’t like change; it likes the expected, precedent and tradition. Lawyers [...]
Laterals can be a wonderful addition to a law firm. They can also be an incredibly expensive drain – financially, in terms of resources and with respect to morale. Here’s how to ensure your lateral hires can help rather than hurt your firm. It’s said that laterals have around a 70% chance of surviving in [...]
Most businesses – especially law firms – must market to some degree. And they do. They have a website. They print business cards. They make sure the logo is used on tombstone ads and sponsorship programs. Law firms do spend some money on marketing, and some of their lawyers even spend time on marketing – [...]
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 [...]