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By Silvia Coulter and Steve Bell This article was originally published through PinHawk’s Legal Administrator Daily on August 17, 2020. Studies in the legal market consistently show that most client team “programs” are not doing well and that many firms do not even have a focus on key clients. Here are some quick bullet points to consider for enhancing the firm’s client team strategy. To Do or Not To Do Regardless of firm size, the…
I recently wrote about the outcomes of our most recent 30 law firm merger & acquisition projects <link> within the context of a clear uptick in activity and our prediction of increased activity over the next few years.  Within that article, I observed that: Statistically, based on our sample, 1 in 10 working concepts make it to a viable transaction. Then, one in two of our serious conversations (roughly) end up in a deal. This…
Your Performance Orientation In my last blog entitled Your Financial Performance Scorecard (link), I discussed four profit areas for law firms: (1) successful pricing and production, (2) effective financial hygiene, (3) balanced overhead and expense management, and (4) smarter reporting and signaling. In that blog, I also introduced the idea of a financial hygiene diagnostic scorecard to help tie these ideas together (to review this diagnostic, navigate here). In today’s blog, I…
This article was originally published through PinHawk’s Law Firm Marketing Brief on July 27, 2020. The national conversation about racism and the need for social justice reached a boiling point after the death of George Floyd in May. Since then, law firms have been ramping efforts around what they can do to demonstrate their commitment to eradicating racism, and, within their organizations, how to support attorneys and staff of color. There are myriad ways to…
This article was originally published through PinHawk’s Legal Administrator Daily on April 22, 2020. By Silvia Coulter and Steve Bell Law firms have long employed a standard practice in predicting revenue:  this year’s revenue + X%.  That’s fine, as far as it goes, however, this approach provides only a limited view of all of the opportunities and all of the revenue potential in the firm’s pipeline.  Traditional commercial businesses long have utilized a simple business…
What if you were able to build a healthy book of business just by changing one tiny thing in your daily routine? Would you do it? Think about that –create just one simple regular daily habit, and the trajectory of your career will change for the better.  What if you could do it in less than six minutes a day? Are you interested? It’s not as far-fetched as it sounds.  Using one well-selected, foundational effort…
This article was originally published through PinHawk’s Legal Administrator Daily on April 29, 2020 As law firms have implemented their work-from-home (WFH) efforts, three segments of the legal professional groups have emerged. For brevity, we’ve called them: The Taxed, The Redeployables, and The Instructables. Each segment presents a unique challenge, requiring a customized approach that keeps the workforce feeling engaged and supported.  A one-size-fits-all approach to these segments could not only damage morale, it could…
This article was originally published through PinHawk’s Legal Administrator Daily on June 29, 2020 The strongest law firms see the current economic environment as a prime opportunity to recruit valuable laterals from their competitors. Thinking long term, they are eyeing corporate practices that are slowing or dormant, but could come roaring back during the recovery. But integrating laterals into a new firm has always been a risky proposition — more than half do not remain…
This article was originally published through PinHawk’s Legal Administrator Daily on July 14, 2020 People and Legal Project Management At the end of the day, LPM is about how people perform their jobs. Period. You can install some fancy new technologies and implement even more souped-up processes. But there is no LPM without people. If you’re going to deliver value, you’ll need to capture the hearts and minds of the people who comprise your firm.…
This article was originally published on June 3, 2020 through PinHawk’s Legal Administrator Daily. Leveraging Your LPM Technology Spend Technology is not the only answer. In fact, you don’t even need technology as part of your legal project management initiative. But let’s just say that carefully selected technology not only saves time, but allows lawyers to focus on… wait for it… the practice of law. LPM, when it’s embedded in the fabric of the firm,…