Law Firm Partners

News & Analysis as of

Law Firm Talent Retention: Culture Matters

Millennials, Gen-Xers, Baby Boomers, Silent Generation, etc. Much has been written and I dare say speculated about why things are not working well between the generations. This includes such generic statements such as,...more

Lawyers for People versus Lawyers for Business

The work of lawyers is increasingly the work of businesses rather than people. This conclusion flows from recently released Economic Census data, which is the U.S. Government's "official five-year measure of American...more

Change: Lessons for law firm leaders from the legendary Jack Welch

In order to meet or exceed anticipated profits per partner in a rapidly changing legal industry, many firms still have a way to go to upgrade or simply modernize their systems and processes. So today’s post is about change. ...more

Legal Business Development: A Roadmap for Growing the Top Line

As we’ve all heard before, law firms can improve the bottom line in two ways; 1) by cutting costs, and 2) by increasing the top line. For those firms who weren’t serious about cost-cutting, before then, 2008 likely changed...more

Building a Portfolio of Court Cases the Way a Quantitative Hedge Fund Buys Stock

For the last couple of years, Dan Katz has been telling me and anyone else who would listen that law will eventually be a subfield of finance. Following Dan's reasoning, this will occur because legal risk can be modeled and...more

Advanced Pricing Class – Early Bird Rate Ends 9/8/16

Law firms of all sizes are facing pricing pressures like never before.  There is a tendency for many partners to simply agree to the discounts requested by clients — even for high value legal matters, rather than push to show...more

Compensation (Re)Design for Law Firms

The good people at Ark Group recently published a new book, “Compensation (Re)Design for Law Firms,” edited by Soo Darcy. I was invited to contribute a chapter, entitled “Incentivizing the New Normal.” As regular readers...more

Attorney mom of special needs child chooses law, motherhood

GableGotwals attorney Ellen Adams put her firm's family friendly policies to the test eight years ago when she delivered a child with special needs. Adams was given all the time and flexibility she needed to balance her...more

How Lawyers Can “Get a GRIP” on Collaboration

This post is targeted to Leaders – to all you Practice Group Leaders, Project Leaders, Team Leaders, and even Firm Leaders – whose role is to get assorted performers to pull together effectively in harness. But you followers...more

Is My Partner Stupid? Is My Partner a Thief? Cross-Selling Fears as Obstacles

For years, cross-selling has been seen as the almost unreachable holy grail of law firm business development. Firms know if they can figure out how to cross-sell their services they can increase revenue substantially and...more

Leadership Flaws and Communications Deficits…

Over the past two weeks Americans have witnessed the culmination of our presidential nominating process, and the launch of the general election campaign. This should be a time of national pride and excitement but the opposite...more

Have the Millennials Figured it Out?

“Technologically savvy … consistent high quality work output … innovate … fresh perspective … incorporating new technology into our work processes … simplifying our approach … constantly evaluating our approach to projects...more

"Winding Up" A Law Firm Partnership Doesn't Necessarily Mean Liquidation

You can "wind up" a partnership without having to liquidate all of its assets and terminating its existence. So ruled Judge McGuire last week in Hardin v. Lewis, 2016 NCBC 55. But that may not be true for all partnerships. ...more

Management Lessons from the Chicago Cubs

Despite the Cubs’ historic start to 2016, a true blue Cubs fan can’t help but remain skeptical about what the fall has in store for the team. A history of 100+ years of doing the same thing with the same annual result has...more

Superfast Whitepaper

Is Your Firm Among the 13%? Emulating the Fastest-Growing Firms in the New Legal World - The November 2014 issue of The American Lawyer headlined with an engrossing article by Aric Press entitled “BigLaw’s Reality...more

District Court: CFPB May Hold Law Firm Owners Individually Liable for Alleged Violations

The U.S. District Court for the Western District of Wisconsin ruled on July 20, 2016, that the Consumer Financial Protection Bureau (CFPB) may hold the owners of two law firms offering debt relief services liable for alleged...more

Law Firm Business Development: Turn “NO” Into an Opportunity!

I talk with a lot of lawyers. And everyone at one point or another has lost business to a competitor. Sometimes, one never gets the opportunity to compete in the first place. The secret to more wins is to turn an objection...more

Who Will Be The Owners of Law Firms in the Future?

We are often asked what we think law firms will look like in the future. What will the leverage model be? Will the Equity Partner class be larger or smaller? How will the changes in the business impact staffing? These are all...more

Why Your Strongest Contacts Are Not Always Your Best Contacts—and What to Do About It

In early March 1955, a young African-American woman refused to give up her seat to a white passenger on a Montgomery, Alabama, city bus. Her name was not Rosa Parks. Rosa refused to give up her seat later that same...more

5 Reasons Nobody is Seeing Your LinkedIn Updates (the 5th reason will surprise you)

This last week in NYC I met with a frustrated Marketing Director who finally convinced their Managing Partner to share an article to LinkedIn as an update. You know, those articles that show up on LinkedIn’s Facebook-like...more

Law Firm Business Development: Are You Missing Opportunities To Connect?

Along with the warmer weather comes increased outdoor social activity. Accordingly, there are plenty of informal opportunities for relationship development—which we all know is what business development really is—in...more

Nailing the Fundamentals: The Value of Rehearsing

While in NY recently, I found myself outside Carnegie Hall. Whenever I find myself there, I often think of the old joke attributed to Jack Benny that goes “How do I get to Carnegie Hall?” To which Jack replied “practice,...more

When is the best time to share? It depends.

If a tree falls in the forest and nobody is there to hear it, does it make a sound? Philosophical thought experiment - For the first five years of my consulting business, I gathered data and case studies on...more

Law Firm Revenue Growth: Business and Market Intelligence Keeps Client Teams Moving Forward

Sitting in a client team meeting recently and listening to the lead partner confidently discuss his knowledge of the client and how the team can pursue new opportunities for gaining more client share was another one of the...more

Are You Focusing Too Much On Your Diversity Program?

Diversity is a good thing. Actually it’s a great thing. It’s good for business in many ways. But the focus on diversity in the legal industry has become, for the most part, an exercise too tied to metrics and too formalized...more

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