Profit Boosting Band-aids for Troubled Firms
Regional law firms face unique profitability challenges, but short-term strategies like cost restructuring, rate discipline, and proactive collections can provide critical breathing room while paving the way for long-term change.
Executive Committee Size
Many law firms delay strategic planning, thinking internal issues like oversized boards must be resolved first. However, smaller, more focused committees can streamline management, and planning should not be postponed over such challenges.
Brand Sharing
As global corporations increasingly institutionalize the purchase of legal services, law firm brands have become vital for competitive success. Building a strong brand takes time and consistent effort, something many firms struggle with. As a solution, some firms turn to brand sharing through mergers, such as utilizing a Swiss Verein structure, allowing them to align with established international firms and benefit from a global brand without losing independence.
Dancing With Elephants: Acquiring Smaller Law Firms
Mergers between large and small law firms bring unique challenges, as smaller firms may approach with caution while larger firms must navigate carefully to avoid missteps. Success hinges on clear communication, realistic promises, and mutual understanding of each firm’s motivations, with larger firms bearing responsibility for a smooth integration.
Five Keys to a Successful Lateral Hiring Strategy
A successful lateral hiring strategy can elevate law firm performance—but only when executed thoughtfully. Many firms fall short not because of poor strategy, but poor follow-through. The key is to set high standards, seek out proven candidates with portable business, and do in-depth research before making a move. Bypassing recruiters for direct contact and focusing on solving the candidate’s core pain points—rather than dangling money—can turn lateral hiring into a powerful tool for growth, especially for firms not already leading their market.
Cubs vs. Yankees: Why Lateral Hiring for Most Law Firms Makes Sense
This thought-provoking piece compares the law firm hiring debate to a classic baseball rivalry: the Cubs’ slow-build farm system vs. the Yankees’ superstar spending. As the legal market splits into elite Big Law and everyone else, the article challenges traditional ideals and argues that for many firms, lateral hiring isn’t just a strategy—it’s survival.
Square Pegs in Round Holes: Compensating Administrative Partners
As law firms tighten budgets and shift partners into administrative roles, a new challenge emerges: how do you fairly compensate lawyers for non-legal work? This insightful article explores three distinct models—lockstep, tier-ranking, and value-based systems—while also questioning whether partners belong in these positions at all. Is it strategy or just a soft landing for underperformers?
Metrics That Matter: Revenue Per Lawyer Billable Hour
As law firms adapt to a more efficiency-driven future, traditional billing metrics are falling short. This article explores “Revenue Per Lawyer Billable Hour” as a powerful new way to measure performance—one that works across billing models, encourages smarter resource use, and aligns lawyer incentives with modern client demands.
Tolstoy was right
Why do struggling law firms keep comparing themselves to other underperformers? This article challenges firms to shift their benchmarks upward—toward the consistent traits of top-tier performers. From leadership and expectations to killer practices and pay structures, it reveals the shared DNA of successful firms and why aiming low is a losing strategy.
Minding the Gap
In a post-recession legal landscape, dominance is no longer a fortress—it’s a challenge. This article explores how once-unshakable law firms are facing new threats, while ambitious challengers have unprecedented opportunities to rise. Whether defending a top spot or climbing toward it, the game has changed—and strategy is everything.