For the last decade plus, merger has been a strategic choice for many law firms. The 2020 pandemic had a negative impact on the quantity of mergers but, many including our firm expect there to be a major uptick in
Latest from Managing Law Firm Transition - Page 3
Assessing 2020 as You Plan for 2021
For firms that operate on a calendar fiscal year, 2020 is done. Over. Finished. The uniqueness of 2020 presented challenges not anticipated as last year started, but remarkably most firms adjusted and endured. As they now take a deep breath
Creating a Stronger Law Firm in 2021
Most firms are in the final stretch of 2020, wrestling with collections, budgets, PPP loan forgiveness, 
promotions and compensation decisions. All of these are important activities. But, while focused on wrapping up 2020 let me suggest one more subject that
Planning for 2021-Turning to the Basics in a Transitional Law Firm Year
It is not an exaggeration to say that 2020 was different. As unanticipated as it was, it is notable that for many law firms this past year has been financially okay, if not good. But with the challenges still playing
Why KPIs Are Essential To Law Firm Management
“What gets measured gets managed” – Peter Drucker
I had the pleasure of serving as a guest panelist last week at a Managing Partner Forum webinar on “Which KPIs Are Best For Your Law Firm?” The program was a lot
Law Firm Investment and High Returns
Law firms seeking to thrive today must stand out from their competition. Of course, that is easier said than done, and identifying specific steps to achieve this goal takes careful thought, planning and execution. Thomson Reuters’ recently released 2020 Dynamic
Law Office Space – Lessons Being Learned
Managing the delicate balance of law firm economics has always been a challenge. In serving any particular market (practice type and geography), firms struggle to find that sweet spot — the perfect formula of rates/pricing, productivity, cost, and resulting profits.
New Law Firm Ownership Rules Won’t Drive Success–Three Things That Will
As talk about more states allowing non-lawyer ownership of law firms is heard, concern over more deeply capitalized competition may be on the mind of some law firm leaders. No doubt, opening up law firm capital structures to investors is
Law Firm Layoffs – Compassion, Culture and Survival
The impact of COVID-19 on law firms has barely begun. When it comes to the flow of work, some firms are experiencing a measurable or even significant bump thanks to having the right practice focus at the right time: but
With a Fundamental Change Taking Place, Will Your Law Firm be Ready?
For some time, law firms have felt heightened competition from not just other law firms, but also from clients moving needs in-house and alternative service providers picking off peripheral services. As reported by Bloomberg Law in Arizona First State to