Hayse LLC

Latest from Hayse LLC

“Preparation is very important.” “Albert Pujols, one of the best hitters in baseball’s modern era, used this four-word phrase to describe one of his keys for success. It is not overly complicated and it is easily understood. The fundamental quality of being prepared—of keeping his eye on the ball figuratively in addition to, in the moment, literally—held him in good stead throughout his career.” from  Decisions That Matter: Tales of Law Firm Leadership in
Law firm succession is a huge issue for many of today’s law firms.  Not surprisingly, more firms than ever before are focusing on succession by adopting written succession plans that address leadership succession and client relationship transfer.  Despite the importance of succession, many firms have no written plan and remain unprepared for transitioning leadership or client relationships. But even when law firms draft succession plans that address leadership and client relationships, too many of those…
“Every little thing counts in crisis”  -Jawaharlal Nehru, Indian statesman          “For law firm leader, there is little room for error when crisis ensues. A mistake here, a misstep there, and lawyers at the firm begin to lose confidence in the firm and its leadership”             from    Decisions That Matter: Tales of Law Firm Leadership in Moments of Consequence   Realizing that your law firm is…
“Law firm disasters are almost always of the man-made variety…. Once a storm is brewing, add the fact that as business organizations go, a law firm is among the most fragile, and you have the climate for a series of catastrophic events.”             from Decisions That Matter: Tales of Law Firm Leadership in Moments of Consequence  Most law firm leaders confront crisis as a newbie.  Their prior leadership experience typically delves…
BigLaw leaders have many things to think about when guiding their firms to Top 100 finishes. One major item is the need to respond to client expectations of value.  The idea that clients expect value in the legal services they buy is not a radical idea.  As long as law firms have had clients, there has been an expectation by them that they are entitled to bang for their buck.  But as BigLaw leaders and…
I have been preparing for a managing partner leadership conference. One of the topics I am discussing is law firm Key Performance Indicators “KPI.” In reviewing recent articles and posts on the issue I was struck by two things: the disproportionate representation of relatively short-term performance snapshots; versus, the almost total absence of the two most important factors for any business, including law firms. Ask any executive associated with the leadership of a law firm to define…
As more law firm mergers are announced, the idea of pursuing a merger crosses many a law firm leader’s mind.  The idea of grabbing greater market share, entering distant markets, bolstering capabilities, or addressing succession can spur thoughts of combination.  Those potential results or outcomes can seem compelling and cause a firm to jump into the merger game with both feet.  But because mergers don’t always guaranty success and can actually undermine the stability of…
Charles Darwin said  so profoundly “It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.”   Our practice is seeing an increasing number of firms tested by their ability to adapt. The news reflects a growing number of firms in obvious transition. From high-profile names to lesser-known partnerships, the leaders of each firm faces pivotal decisions. Some of these firms…
The typical press release announcing a law firm merger extolls the excitement, the opportunity to have one plus one equal three, and the great fit of culture, practices and people.  It’s perfect until it is not.  In fact, by some measures more than half of all law firm mergers fail. When the realization sets in that your law firm merger is a bad one and not the combination of your dreams, what can you do? Besides…
I was very encouraged by a Bloomberg article regarding Katten Muchin Rosenman. The piece describes the strategic priorities of Roger Furey, the chair of the firm. The three top priorities are: Getting the word out regarding the firm’s reputation. Reportedly, the firm has an excellent reputation with existing clients and the goal is to make the broader market more aware of this. Determine what the firm’s clients view as their needs. As is the case with…