Introduction
In the complex and ever-evolving world of law firms, the role of a practice group leader is crucial. Like a symphony conductor, practice group leaders are accountable for bringing together talented individuals to create harmonious outcomes. However, many law
Wherever the crowd goes, run in the other direction. They are always wrong.
Charles Bukowski
For many, today’s economics are confusing. Inflation is higher than Fed targets and remains sticky, but unemployment remains low, and consumer spending remains strong. Last
Much has been written about the pressures developing, both within law firms and more broadly, due to the dramatically different perspectives and expectations across generations. These pressures continue to develop at a deliberate pace and create little flare-ups around various
To protect existing revenue streams, successful law firms invest heavily in client service, satisfaction, and relationships.
But what about future revenue streams (aka prospective clients)? Often, and for a variety of reasons, lawyers put nascent relationships on hold so that
I am often struck by just how frequently we encounter new law firms, particularly smaller to mid-sized firms, where when asked if the firm has a formal “strategy” (or to use the common parlance, “strategic plan”) we will be told
We are seeing demand for legal services remains somewhat flat if not a very slight uptick in demand. New entrants into some of the markets outside of the U.S. and the Big Four accounting firms are focused on grabbing as
There are limited ways for a law firm to differentiate from other firms. After all, the practice of law is basically the sale of hours (expertise) in exchange for fees. So how can a firm actually stand out from the
As any Manhattanite will tell you, it doesn’t take long to walk 10 short north-south blocks. It’s less than half a mile. But when you’re under 770,000 tons of hard rock, it’s a very long distance. That was the scene
As soon as a new lawyer joins a law firm, they get wind of the fact that acquiring new clients and finding new work at existing clients are key to promotions and increased compensation.
Likewise, lawyers who become firm leaders
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 succession.” What is less obvious is how often these two