A lot of lawyers are extremely challenged about operating in crisis mode and ending many days feeling they were not productive because they were side-tracked into unanticipated interactions, tasks and requests. Being organized and able to prioritize is something some people seem naturally to do better than others, but actually are skills that can be learned…
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This article was written by Tory Ruttenberg, who is a RainMaking Oasis Affiliate Consultant and President of Ruttenberg Consulting, LLC and was originally published in PD Quarterly magazine. It is reprinted here with permission from both. Due to the unique nature of law firms, succession planning can be more difficult for them than for other…
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Citi Private Bank has released its third quarter report on law firm growth and it indicates a slow-down since their mid-year report. The following findings are important to note: Demand was nearly flat at .3% Revenue growth other than due to billing rate increases was only .3% Firms have seen an increase in compensation expenses…
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Leadership is not a title or a position. The best leaders have developed competencies that enable them to drive their firms forward, think conceptually and strategically and effectively build and rely on teams and networks. According to the 2016 Deloitte Global Human Capital Trends report, eighty-nine percent of companies see leadership as an important or…
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As noted in our previous post Succession Part 1: Holding onto Clients When Senior Rainmakers Retire, over the next ten years over 65% of baby-boomer, equity partners are expected to retire. (Since we focused on Transitioning Clients in that post, we will not address it again in this one.) Many of these partners likely also are…
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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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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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