As we usher in 2024, the echoes of 2023’s law firm successes and challenges still linger. Last year, we observed mixed demand, gnawing expenses, the AI frenzy, and talent scarcity. In that tumultuous terrain, I frequently wrote about the crucial
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Generative AI: A New Tool for Legal Project Management
Co-Author: Amanda C. Chaboryk, Head of Legal Data and Systems, PwC Operate
The landscape of artificial intelligence has undergone major developments since the release of ChatGPT just over a year ago, with 2023 marking a turning point with increased…
Five Tips to Tie Marketing & Business Development Value to Firm Success
“I’ve been a marketing/communications professional for years and – given this economy – I am feeling the need to demonstrate value. Sales professionals have revenue metrics to show value, but I don’t know how I can do the same. Any…
A Time to Reflect and Reset
As we approach the end of another year with all that entails at our firms – setting compensation, collecting money, scrambling to close deals, and myriad other things – it’s sometimes hard to step back and remember where we’ve come…
The Many Paths to Business Development Success
When seasoned rainmakers step up to deliver their insights on business development to their firm’s eager associates, it often sparks both inspiration and apprehension. The underlying message seems clear: “Follow my path and success will be yours.” However, herein lies…
7 Reasons to Design a Law Firm Sales Process
A recent survey conducted by Chief Sales Officer Insights – a survey about achieving revenue goals – determined that a vast majority of companies are still flying by the seat of their pants when it comes to formalizing, reviewing, and…
Navigating Rate Trends for 2024: Strategies for Pricing Success
Contrary to popular perception, law firm billing rates do not exhibit a steady upward trajectory. Instead, a closer examination of long-term trends reveals a pattern of cyclical fluctuations in billing rate increases. These fluctuations are influenced by a complex interplay…
Is Charisma Necessary for LPM Leaders?
Charisma, like extroversion, may be highly overrated. You don’t need to be charismatic to inspire people, at least according to leadership consultant Simon Sinek, one of my favorite authors and speakers.
I think he’s right. For me, Sam Bankman-Fried…
Sharpening Your Law Firm’s Industry-Based Sales Strategy
Over the last two decades there has been a proliferation of practice groups at most firms. Some are practice-specific, fewer are industry-focused, and some exist to garner budget money. While practice groups are a meaningful way to combine resources and…
In Times of Planning Uncertainty, Fall Back on the Basics
As we all gaze into our crystal balls and try to predict what will happen in 2024 with any degree of certainty, our views are pretty hazy. Think back to this time last year, which was filled with much handwringing,…