LawVision Blog

During the battle of Bunker Hill in the revolutionary war, General George Washington launched three failed attempts to take control of the high ground on the Boston peninsula. His failure gave the British army full control of Boston Harbor. The loss was devastating to General Washington and his ragtag army, but the battle turned out to be a Pyrrhic victory for the British. Washington’s army left the battlefield with far fewer casualties than the British…
The current COVID crisis will have the effect of accelerating a trend that has been on the horizon for some time – moving the legal industry in the direction of creating explicit linkages between partner compensation and practice profitability.   As I noted in a recent article, “Rethinking Partner Compensation Systems in Light of COVID-19?,” incorporating profitability into law firm partner compensation systems “will need to be handled carefully, but deliberately. It is not too early…
Despite social distancing, working remotely, and the reeling economic environment, law firms must continue to provide exceptional service to their clients. Even as the pandemic rages on, the pressure that clients feel continues unabated. Now more than ever, clients require a legal team that is working efficiently and communicating clearly, allowing them to manage their work, stay on budget, and deliver real value to their organizations. How does this happen now? LPM continues to be…
By Yvonne Nath with guest author Adam Fried, Shareholder at Reminger Co., LPA Meetings Directly Reflect Your Organization’s Culture “Bad meetings make bad companies. Meetings matter because that’s where an organization’s culture perpetuates itself. Meetings are how an organization says, ‘You are a member.’ So if every day we go to boring meetings full of boring people, then we can’t help but think that this is a boring company. Bad meetings are a source of…
By Yvonne Nath and guest author Cole Silver, Chief Client Officer at Blank Rome LLP You can detect a firm’s culture through its cultural artifacts and practices. Cultural artifacts are physical evidence, such as posters on the walls, the website, and what people wear; practices are the routine behaviors, such as how people interact within meetings, how they handle conflict, and what they celebrate and reward. A law firm’s artifacts and practices appear at numerous…
Financial Performance Diagnostic Metrics and accountability are essential parts of your law firm’s performance. But not all are created equal, nor do all have the same impact on your firm’s bottom line and your specific profit destination. Some are out of date with today’s pandemic-led legal environment, while others remain dormant, underutilized in firm operations. To help firms think about these ideas, I recently developed a law firm financial hygiene diagnostic, with the assistance of…
By now, your firm and its lawyers have decided whether or not it is appropriate to reach out to clients and prospective clients for business development purposes.  For those who have decided that outreach is in order, decisions also have been made about whether the best channel for doing so is phone, e-mail, virtual conferences, USPS mail or some combination of these. For those who have determined to, and how to, reach out, the next…
We have the opportunity to work with many great partners from many firms to help them with their relationship-building and sales pursuits. One thing has become crystal clear—no matter how skilled at rainmaking many are, from time to time they run into roadblocks. Our job as coaches is to help them steer around these roadblocks to new avenues of opportunity. The more sophisticated the partner is at selling, the more sophisticated the roadblock may be.…
As I referenced in my March blog, there has been a shift in law firms over the past few years from individual-focused business development initiatives to team-oriented programs and we expect this trend to continue. One area that has been of particular interest to firms of all sizes is the development of an industry team go-to-market strategy. Also, in my March blog, I promised that I’d begin sharing some examples of industry team best…
Our LawVision Covid-19 Recovery Playbook is packed with actionable advice. One of the top ten recommendations is that “Firmwide practice group leaders need to know how to lead and manage in a virtual world — a goal that requires a whole new set of skills.” Yet, on a recent video call, one of the attendees from a major firm commented: “Our practice group leaders were not leading well when they were live with their members. …