By Co-Founding Principals Susan Raridon Lambreth and Joseph Altonji Co-author Susan Raridon Lambreth wrote an article for the American Bar Association Journal (ABA Journal) in 1989 about the future of law firms over the next...more
I recently had an “out of body experience” while meeting with a group of young (35–40-year-old) partners who complained intensely about the poor work ethic and, more importantly, intellectual laziness and grade-C work their...more
“Culture eats strategy for breakfast.” – Peter Drucker We’ve all heard this famous admonition from the founder of management consulting, but what does it mean to us, today, in the legal world?...more
10/10/2023
/ Accountants ,
Alternate Legal Service Providers (ALSPs) ,
Artificial Intelligence ,
Business Development ,
Change Management ,
Corporate Culture ,
Diversity and Inclusion Standards (D&I) ,
Firm Leadership ,
Law Firm Partners ,
Law Practice Management ,
Legal Technology ,
Strategic Planning ,
Technology
The legal industry has been on the verge of either “ending as we know it,” or being forced to endure massive change, every five to ten years since at least the 1980’s. Consider some of the history:...more
Perhaps not surprisingly, two of the most frequent and challenging requests we currently receive are for assistance with “thinking through growth questions” (aka, “mergers and acquisitions”) and “dealing with generational...more
While the post-pandemic merger pace is slower than many expected, law firm combinations are clearly on the rise. More significantly, recent announcements suggest that the number of larger combinations are also on the rise,...more
As we enter the final countdown to the end of 2022 – hard to believe another year has come and gone! – there are lessons to be learned from where we’ve been. This year might go down as the “year of shifting winds” for the...more
A few weeks ago, I addressed “What’s Next for the Legal World?” in a post focused on critical challenges facing law firms. In it, I argued that “profitability management as a survival skill” is now a feature of the...more
Through the heroic efforts of many people in the medical and pharmaceutical worlds, the United States and other countries are on the brink of emerging from the long Covid nightmare. With it, the legal industry is waking up...more
3/30/2021
/ Alternate Legal Service Providers (ALSPs) ,
Client Services ,
Coronavirus/COVID-19 ,
Diversity and Inclusion Standards (D&I) ,
Environmental Social & Governance (ESG) ,
Firm Leadership ,
Law Firm Partners ,
Law Practice Management ,
Legal Technology ,
Strategic Planning ,
Technology
Since the COVID epidemic took hold there has been a significant reduction in the number of law firm mergers and acquisition transactions announced, and an even greater drop off in larger transactions. Few deals announced...more
Is your firm a group of cats or dogs? Probably not a question most Managing Partners have considered recently, but surprisingly apt. Consider the behavior and hunting patterns displayed by the typical wild versions of cats...more
In the last century, law firms have grown in size and partnerships have expanded from a few partners to now hundreds to thousands of partners in some of the largest global firms. Meanwhile the legal structures of those...more
The current COVID crisis will have the effect of accelerating a trend that has been on the horizon for some time – moving the legal industry in the direction of creating explicit linkages between partner compensation and...more
It’s been a crazy three months and we’re not out the woods yet on the COVID-19 crisis, but by this time all well-run law firms have 1) figured out how to keep functioning and serving their clients virtually and 2) at least...more
As we plan for reemergence from the current business restrictions necessitated by COVID-19, it might seem a bit early to think about what changes to compensation allocations and systems might be needed in light of the current...more
In our COVID-19 Recovery Playbook, we provided our thinking for firm leadership on how to manage through the current crisis. In this four-part continuation of that work, we examine where and how the industry may be shaped by...more
After more than three decades advising law firm leaders on improving their firm’s overall position and success, a number of frustrations have proven to be more than just isolated aberrations: As a result, over multiple years...more
Wait, what? It’s still January, right? Well yes, it is, but now is the time to lay the groundwork for a strategically successful year. Most of us are just finishing up figuring out what happened and allocating the fruits of...more
We’re just three weeks into the second decade since the crash of Lehman and the end of life as we once knew it in the legal industry…. Oh, wait. Was that too dramatic? Maybe so, at least in retrospect, but there is no...more
The three wise monkeys of Buddhist tradition were said to represent the positive personality trait of not fixating on the negative or on evil thoughts. But in the business world, and certainly in the legal industry, a less...more
We’re coming up on the 10th year-end closing since the financial crash got rolling, and as many as two-thirds of American law firms are still not back to pre-recession demand levels, according to some reports. But, some are...more
It’s hard to believe but it’s here – the fourth quarter. The time when most law firms become intensely focused on the immediate, short-term, administrative and highly internal management needs of their organization. For...more
It’s hard to believe the inflection point that marked the beginning of so much change in the legal world occurred ten years ago today on August 9, 2007. That was the day BNP Paribas closed withdrawals from three funds citing...more
A few weeks ago, while facilitating an All-Lawyer retreat, I had an interesting ah-hah moment. This was an unusual retreat. In the course of our consulting work we facilitate and attend a lot of client retreats, but most of...more
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