Can We Make Knowledge Management Work?
Knowledge management may be the legal industry’s favorite buzzword, but real success comes down to creating incentives that benefit clients, attorneys, and firms alike. By sharing work product in a way that generates commissions and credits, firms can turn a hot-topic challenge into a differentiating advantage—or decide it’s just a costly distraction.
Margin Differences
Why do mid-sized law firms often enjoy stronger margins than their larger counterparts? From the hidden costs of non-equity partners to surplus office space and oversized IT teams, the answer lies in how firms manage expenses versus revenues. Sometimes, being lean and disciplined beats economies of scale.
New Life for Commodity Legal Services
As routine legal work becomes commoditized, law firms face a stark choice: abandon low-margin practices or rethink how they deliver them. Off-shoring may be the third option—transforming cost-heavy services into profitable ventures without sacrificing quality.
Fighting Sticker Shock
Sticker shock in legal billing isn’t really about price sensitivity—it’s about client expectations. By borrowing simple pricing cues from consumer markets, like price familiarization, benchmark pricing, and even the power of 9, law firms can reduce surprises, increase fee acceptance, and strengthen client trust.
Defending Dominance
Reaching the top of the legal market is only half the battle—staying there is harder. Dominant firms risk complacency, but with bold attack, breadth, and refocusing strategies, they can secure their place at the summit.
Industry Focus
Clients don’t just want smart lawyers—they want lawyers who understand their business. By focusing on industries, law firms can stand out, build credibility, and win dominance with far fewer resources than traditional strategies.
Implementing Strategy
Why do some law firm initiatives succeed while most strategic plans gather dust? Often it comes down to three forces: the relentless push of a “monomaniac with a mission,” a change disguised as defending the status quo, or the herd instinct of following what competitors have already done. Understanding these dynamics may be the real key to turning plans into action.
Getting the Turkeys to Vote for Christmas: How Law Firms Implement Strategy
Why do some law firms actually follow through on strategy while most plans gather dust? Successful firms share key traits: leaders who push past resistance, detailed action steps with accountability, goals partners can actually meet, and a willingness to embrace change. The difference isn’t the plan—it’s the execution.
Strategic Options for Insurance Defense Law Firms
As audits, rate cuts, and consolidation squeeze margins, insurance-defense firms face a crossroads: dilute the practice, spin it into a stand-alone unit, or double down with a ruthlessly efficient, specialized model. Here’s how to pick a path—and make it profitable.
Nibbling Around the Edges
Too many law firms ‘nibble around the edges’ of strategy to avoid risk. This article reveals how the true winners play to win—by doubling down on strengths, building market dominance, and exploiting competitors’ weaknesses.