Déjà vu All Over Again
Could more frequent, streamlined reviews be the key to better efficiency and lasting success in law firm compensation? Discover how a shift in approach might save time and reward performance effectively.
Managing Partners: Full or Part Time?
How can managing partners strike a balance between leadership and active legal practice? Explore strategies to maintain credibility, set boundaries, and manage expectations in this dual role.
Getting in Front of the Curve
How can law firms capture first mover advantage without unnecessary risk? Discover strategic steps for identifying trends, leveraging firm strengths, and testing opportunities for lasting impact.
The Cold Opening
Could a “cold opening” be the secret to lasting change in law firms? Explore how quiet, gradual shifts in strategy can lead to deeper cultural transformation with minimal risk.
Working Capital: How Much is Enough
How well do law firm partners understand working capital? Uncover why having sufficient cash reserves is essential for covering expenses, partner payouts, and growth, and why a strong financial cushion can make all the difference.
Stop Making Partners
Four questions to ask yourself before conferring equity partner status on anyone else. My colleague Ed Wesemann recently published a must-read article titled “A Five Year Survival Plan for Mid-sized Firms.” Ed’s first piece of advice to the leaders of these firms is: “Stop making partners.” I think that’s absolutely correct, and I’d like to […]
5 Key Observations on Law’s Tectonic Shifts
Firms ignore these significant changes to the law-practice environment at their own risk. Any development that changes the rules and renders present practices obsolete is called a “destructive trend,” that is, something that utterly destroys the present way we think and do things, something that threatens to quickly alter the status quo. Over and again […]
Forget About Revenue
Profits are a better way to measure a law firm’s financial health. This article explores why so many firms are preoccupied with revenues instead of profit and what you can do about it.
Looking in the Mirror
Are law firm leaders seeing their firms clearly, or are they blinded by misconceptions? A simple annual review of clients, work scope, and partner activities can reveal hidden strengths and guide smarter decisions for future success.
A Five Year Survival Plan for Mid-sized Firms
In today’s cost-sensitive legal market, can mid-sized firms survive without drastic changes? This ten-step plan offers a bold approach to cut costs, streamline operations, and stay competitive in an evolving industry.