2012 brought a great deal of attention to many challenges facing and created by our current legal education system. As recently as early December, Jordan Furlong weighed in with his post “How to kill (or save) a law school.” Brian Tamanaha’s extremely well-written and researched book “Failing Law Schools,” published in 2012, describes in great detail why the system…
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This is the time of year law firms get ready to send out their annual letter to clients citing their new billing rates for 2013. Despite all of the recent coverage about legal departments cutting their budgets and forcing law firms to reduce their rates, two recent surveys find that law firms still plan to…
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This post is one of four that discusses the findings of a survey conducted jointly by the Financial Times (FT), the Managing Partners’ Forum’ (MPF) and Meridian West. The survey results were pre-viewed at a one day conference hosted by PM Forum in London on September 27. The posts reflect findings from the survey, sessions…
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This post is one of four that discusses the findings of a survey conducted jointly by the Financial Times (FT), the Managing Partners’ Forum’ (MPF) and Meridian West. The survey results were pre-viewed at a one day conference hosted by PM Forum in London on September 27. The posts reflect findings from the survey, sessions…
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This post is one of four that discusses the findings of a survey conducted jointly by the Financial Times (FT), the Managing Partners’ Forum’ (MPF) and Meridian West. The survey results were pre-viewed at a one day conference hosted by PM Forum in London on September 27. The posts reflect findings from the survey, sessions…
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The role of the Practice Group Leader (PGL) has become extremely demanding and complex. As firms have grown, they have developed additional ways to organize and manage themselves through industry groups, client teams and practice groups. Most firms now use PGs as their primary business units through which revenue is generated and measured, work is…
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Last week, our post entitled Culture Part 1: Does Law Firm Culture Play a Role in Success or Failure? discussed the components that comprise organizational culture. Every law firm has a unique set of interwoven values and characteristics that make up its culture. As firms address the substantial disruptions posed by the economy, technology and supply and…
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You bet it does — perhaps now more than ever. Of course this depends on how you define “success.” With so much focus on the numbers – PPPs, RPL, revenues, de-equitizing, equity versus income partners, cutting expenses, discounts and billing rates, utilization, hours – it would be easy to assume that every corporate law firm…
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Cross-selling is a good concept, assuming that clients love the work you are doing for them and are thrilled with the level of competence and service (and you know this because you have formally and regularly solicited your clients’ feedback). As discussed in a previous post Strategic Account Management Must Be About Client Value First, Not…
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A growing number of women are placing a higher priority on having a high paying career than they did fifteen years ago. According to a Pew Research Study, while women have surpassed men in education achievement since 1999, 66% of women between the age of 18 and 34 now cite a high-paying career as high priority…
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For so many years, the term “rainmakers” has referred to partners in firms who bring in new clients and have “big books of business.” Merriam-Webster defines a rainmaker as “A person (as a partner in a law firm) who brings in new business.” Fifty years ago, many firms relied on only one or two or just…
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In September, a group of high level leaders in the legal profession will convene in New York City to “solve the worst legal job market in 20 years.” Those invited to the meeting by New York City Bar Association President Carey Dunne will be asked to identify the causes for these woes and to make recommendations to…
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There is a big difference between the role of a mentor and that of a sponsor. While effective mentors can be important for career success, effective sponsors are critical. According to Collins World English Dictionary, A mentor is “a wise or trusted adviser or guide.” To mentor is to “act as a mentor to someone; to train someone.”…
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