As we enter the New Year, chances are good you’re dealing with a predictable slate of demands on your time: setting compensation and budgets; managing details associated with the latest departure; and interviewing this week’s lateral prospect. All important activities,…
Law firm succession planning as an imperative is a popular topic. Discussing and planning for succession makes great sense on many levels. Without a good succession plan, the theory goes, a firm may drive off the cliff with catastrophic results.…
Succession and succession planning is a subject that is being addressed in many law firm leadership forums. One statistic explains the intense focus on the topic – only about 30% of law firms make it beyond the first generation.
Law firm merger is popular because, among other things, it can help a firm grab greater market share, enter new markets, bolster capabilities, or address succession challenges. These results or outcomes can compel a firm to pursue merger enthusiastically. Unfortunately,…
If you practice law, there is one eventuality that should be added to that familiar duo of Death and Taxes. No one talks much about it, but it warrants the same attention to detail. The subject? The end of your practice. …
Competition among law firms is as brisk as ever. Gaining an advantage requires more than hard work-it requires strategic thinking that causes a firm to be different in a positive and noticeable way. Simply working harder or relying on strategies…
Growth through lateral additions is a hit or miss proposition at best. Numerous survey reports indicate that far fewer that 50% of lateral additions meet the expectations of the hiring firm. There are a number of reasons for this poor…
Merger is a tactic that never ceases to be popular with law firms. Among other things, a merger can create excitement, offer greater financial opportunity, provide a rescue, or promise a firm and its people a more promising future. As…