New Year’s Resolutions for Law Firm Managing Partners
Tired of New Year’s resolutions that go nowhere? This candid article offers bold, practical strategies for managing partners to reset priorities, empower staff, improve efficiency, and refocus law firm operations—with real-world tactics that go beyond the usual year-end chaos.
Finding Tall Guys to Play on Your Team: Five Important Reasons Why Lateral Recruiting Strategies Fail
Lateral hiring is a popular law firm growth strategy—but it’s also one of the most mishandled. This article explores why so many lateral hires fail and how firms can avoid common mistakes to turn lateral moves into profitable, strategic wins.
Sort of Pregnant
As law firm mergers go global, traditional definitions are being upended. With separate profit pools, Swiss Vereins, and potential access to outside capital, the rise of a new breed of mega-firm could change the face of Big Law—domestically and internationally.
Rethinking Document Mills
The recent halt in mortgage foreclosures—sparked by sloppy legal work from high-volume “document mill” firms—could provide a short-term boon for mid-sized law firms. As large financial institutions pivot toward more reliable legal providers, these firms have an opportunity to step in, but only if they balance quality with efficiency. Ultimately, routine high-volume legal work remains a commodity, and long-term profitability will depend on mastering project management and process discipline.
How Much Should We Pay Marty Marion?
As law firms shift toward alternative billing models, traditional compensation systems based on billable hours are becoming outdated. To stay competitive and fair, firms must evolve how they measure partner contributions—emphasizing profitability, client management, and value over raw hours.
It Ain’t Brain Surgery
When it comes to high-stakes legal work—what many call “bet-the-company” matters—clients choose lawyers much like they choose brain surgeons: not based on price or marketing, but on trust, urgent referrals, and credible expertise. This article, inspired by the author’s real-life experience selecting a brain surgeon for his wife, offers practical insight into how elite legal specialists actually get chosen, and what law firms must do to position themselves as the go-to experts when crisis strikes.
Regaining Control of Pricing
In a growth industry, the sellers of services are always in a position of power when setting price. The recession, however, has shifted that balance of power to the benefit of the buyers of legal services. Law firms need to deal with some major pricing issues now or risk never regaining a level playing field […]
Nibbling Around the Edges
Many law firms nibble around the edges of strategy instead of playing to win. True success comes from boldly building on strengths, dominating key markets, and targeting competitors’ weaknesses with purpose.
Binge and Purge Cost Management
Many law firms reverted to pre-recession spending after temporary cost-cutting measures, missing the opportunity to reimagine their business models. This article outlines five key structural changes—reducing capacity, specializing staffing, shrinking support roles, minimizing office space, and adopting lower-cost tech—that could permanently boost profitability and help firms adapt to a shifting legal marketplace.
Texas Legal Market
Texas, the third-largest legal market in the U.S. at $17.1 billion, offers high growth, strong population expansion, and increasing industrial diversity—making it a prime opportunity for law firm expansion. Dallas and Austin, in particular, are under-lawyered and positioned for major growth, while Houston’s market dominance and San Antonio’s demographics pose challenges for new entrants.