True Collaboration Drives Profitability and Client Loyalty

03.15.17 | Susan Duncan

Collaboration in the workplace is widely recognized as an important success factor in the most effective organizations. It is necessary in order to build and share knowledge, accelerate innovation, break down silos and facilitate connectivity.  A recent Harvard study found that managers and employees now spend 50% or more time in collaborative activities than they…

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Healthy Client Road Map: 25 Tips to Keep Clients Happy, Satisfied and Loyal

03.01.17 | Susan Duncan

Despite all the talk about clients not being loyal anymore and only being interested in pushing matters to the least expensive “bidder,”  many things about relationships still matter to most clients.  In our last blog post Sales and Service: The Loyal Client Lifecycle, we touched upon some of the ways to nurture and advance client relationships….

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Sales and Service: The Loyal Client Life Cycle

02.15.17 | Susan Duncan

Law firms continue to compete aggressively for new clients and new work from existing clients.  We know from recent surveys by Citi and Altman Weil that client demand for outside lawyers remained flat in 2016 and is expected to do so again in 2017.  With the same or less work to go around, this means…

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Who are Law Firms Really Competing With and Why?

01.18.17 | Susan Duncan

Law firms are facing stiff competition when it comes to holding onto their clients, much less gaining market share. Given the flat growth in available legal work, law firms have been having to “steal” work from other firms to gain share. BTI Consulting’s Market Outlook and Client Service Review 2017 reports that while legal spending…

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Law Firm Partnership Part 2: Becoming and Remaining an Equity Partner

12.14.16 | Susan Duncan

Our last blog post, “Law Firm Partnership Part 1: Do True Partnerships Still Exist?” explored the changes that have occurred in the partnership model in recent decades and the core aspects to healthy partnerships.  In this post, we will examine the qualities needed to advance to equity partner status and what it takes to be…

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Law Firm Partnership Part 1: Do “True Partnerships” Still Exist?

11.30.16 | Susan Duncan

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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Part 3 of 3: The Next Normal – What Can Law Firms Learn from Netflix?

08.04.14 | Susan Duncan

Our two prior blog posts examined a number of trends, challenges and changes that will affect legal service businesses of the future. “Legal service business” is used here intentionally to suggest that many legal services of the future will more frequently be provided by non-traditional law firms (many of which won’t even be called or…

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Part 2 of 3: The Next Normal – What Talent and Skills Will Progressive Law Firms Need?

07.02.14 | Susan Duncan

In Part 1 of 3: The Next Normal – Will the Traditional Law Firm Model Survive?, we suggested that the traditional firm model will not survive in the future (or perhaps even the present for many.) The law firm or legal service organization of the future will employ numerous types of people who have various skills,…

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Does your firm have the attributes of a world class sales organization?

10.09.13 | Susan Duncan

The Heiman Research Institute conducts an annual survey of worldwide organizations to determine what differentiates those that are the best in sales from all the others. While all types of companies were included in the survey, the report breaks out professional service firms from the rest. Relative to other types of businesses, professional service firms, a category…

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The Future is Here: 10 Trends and What Your Firm Should be Asking Itself

07.11.13 | Susan Duncan

Two things are clear right now. First, dramatic changes have already occurred and will continue to occur in the legal profession (actually, most are affecting all sectors of the economy.) Second, these and other new changes will be permanent, i.e., this is not a pendulum swing that will swing back. The marketplace is driving these…

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Is Your C-Suite Siloed or Collaborative?

06.12.13 | Susan Duncan

As law firms continue to strive to run themselves as businesses, more are hiring senior level business executives who do not have law degrees or who have joint JD/MBA degrees but who likely have more experience in business than practicing law. Most law firm CEOs in the US and UK, however, are lawyers, many of whom still…

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Value Post 4: How Law Firms and In-House Counsel Can Co-Create Value

05.06.13 | Susan Duncan

As we proposed in our previous post Value Post 3: Like Law Firms, GCs Must Deliver More Value to Their Clients, general counsel face many of the same pressures that their outside lawyers do when it comes to demonstrating their value to their clients – the business side of their companies. Much of the legal press…

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Collaboration: The Next Frontier. Are Law Firms Up to it?

02.21.13 | Susan Duncan

The Merriam-Webster Dictionary defines col•lab•o•ra•tion [kuh-lab-uh-rey-shuh n] as: (1) the state of having shared interests or efforts (as in social or business matters;) (2) the work and activity of a number of persons who individually contribute toward the efficiency of the whole.  In today’s business environment, technology tools and platforms facilitate effective collaboration. So there…

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“Effective Client-Adviser Relationships 2012” Part 1: Role of Management

10.01.12 | Susan Duncan

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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Culture Part 2: How to Use or Adapt Culture to Succeed in the “New Normal”

08.28.12 | Susan Duncan

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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