Hayse LLC

Latest from Hayse LLC

Don’t waste your time trying to control the uncontrollable, or trying to solve the unsolvable, or think about what could have been. Instead, think about what you can control and solve the problem you can solve with the wisdom you have gained from both your victories and your defeats in the past.  – David Mahoney – Author   Now is a good time for all firms to conduct a quick self-assessment. Here are 5 areas…
According to many law firm leaders, having a good law firm culture is a key to sustainability.  Not infrequently leaders attribute their firm’s culture for the success enjoyed.  When new mergers are announced or reviewed, the importance of compatible cultures gets top recognition.  And when law firms fail, the impact of a dysfunctional culture reaps its share of the blame.  So, the importance of culture is consistently acknowledged.  But what makes a law firm’s culture…
Law firms and the economy Many or even most law firms are coming off their best year ever. It may be a time to celebrate, but I continue to think about the inevitable bursting of the bubble. Yesterday I was catching up on some long-overdue reading and came across this Forbes article by Mark Cohen. The Cohen article is excellent and makes a case that the next economic downturn is likely to be very disruptive…
While law firm change is scary, in today’s evolving legal services market the absence of change may be scarier.  Law firm leaders don’t need to read expert’s opinions about the quickly moving marketplace, they see it close-up as competitors proliferate and competition intensifies.  Simply standing still by relying on tried and true practices is not an effective response.  More is required to transform your law firm for a better future. Too often the press of…
The global consulting firm, McKinsey and Company, recently released a number of articles related to research they have done on transforming businesses. One in particular, Why your next transformation should be ‘all in’, resonated with me. In summary, the article presents a persuasive argument suggesting“all in” transformations— initiatives that address both services (or products) delivered as well as how they are delivered are much more successful than piece-meal transformations. Specifically, McKinsey attributes the majority of transformation-driven…
For a lot of law firms, “business as usual” is like a favorite pair of shoes-they seem to fit and sure feel comfortable. When that is the case, falling back on usual practices continues as long as there is no pressure to change.  But once a watershed event occurs that shakes the foundations of management practices and strategies, it is not uncommon for leadership to rethink its way of doing things. Unfortunately, if leadership awaits the…
 I don’t know where we should take this company, but I do know that if I start with the right people, ask them the right questions, and engage them in vigorous debate, we will find a way to make this company great. Jim Collins   So many law firms — big and small — continue to struggle in this increasingly competitive marketplace.. This might lead you to believe that building an enduring firm is a…
In an earlier blog, Law Partner Retirement in Place—Solving Won’t Work/Won’t Leave (Part One), we presented the vexing problem of having a partner that slows down workwise but still draws a full partnership share.  Unfortunately, this upsetting situation exists at more firms than are willing to admit. While eliminating the awkwardness the abuse represents can be one objective, excising the potentially significant and precedent setting financial hit is more important. TacklingWon’t Work/Won’t Leaveseldom is easy, but…
The measure of intelligence is the ability to change – Einstein     Adapting to change¬†– At first blush the need to adapt is so obvious there would seem to be no need to discuss it. Then we see firm after firm, small to large, fail because of a reluctance, unwillingness or sheer inability to adapt. In our experience there are 4 steps to adapting: Acceptance Evaluation Planning Execution Step 1 -Acceptance It has…
Although many law firms are enjoying increased demand, revenues and profitability, not all firms are so fortunate.  For the firms seeing a sustained slackening of demand, there is no shortage of ideas on how to combat the problem.   “Work harder,” “get out and hustle,” and “reconnect with your relationships,” are but a few of the solutions often heard.  In these transitional times, an introspective look at the basic law firm model can even occur. Indeed,…