There are many positive aspects to prospective Partner compensation systems but they have one glaring weakness that many law firm leaders wrestle with – what to do with a Partner who appears to be “coasting” and taking...more
As we continue to review and dissect 2016, something feels a little different to me. My recent conversations with law firm leaders suggest that the winners and losers (of market share) phenomenon that we first identified...more
At about this time last year, I wrote a blog about 10 Projects That Can Produce Big Results in 2016. My goal was to get each reader’s firm to focus on one signature project from a “menu” of options that would have a positive...more
In July, I wrote a blog entitled Who Will Be the Owners of Law Firms in the Future. My goal at that time was to start to share my prognostications on where the business of law is going and what the law firm of the future will...more
We are often asked what we think law firms will look like in the future. What will the leverage model be? Will the Equity Partner class be larger or smaller? How will the changes in the business impact staffing? These are all...more
Over the past few months, we’ve dedicated much of our blog space to the significant challenges associated with succession planning in law firms. Variations of this topic come up in most current conversations with clients and...more
Last month I wrote about the succession planning challenges that many firms are, or will soon face. Based on what we’re hearing and seeing, there are a lot of law firms with a lot of client relationships and brainpower at...more
There is a well-deserved and surprising focus on succession planning within many law firms right now. The “well deserved” focus is justified because these firms are trying to bridge/balance the immediate needs and...more
Success often comes in a series of small steps…not one huge leap. Too many partnerships try to address too many challenges at one time. The net result is often very minor progress on all fronts and little overall progress....more