Alternative Fees: Getting on with the Transition
As clients increasingly demand pricing beyond the billable hour, many law firms face internal resistance and cultural friction. But waiting for full consensus may mean falling behind. This article offers three practical, low-cost steps managing partners can take now to ease the transition—and sharpen their competitive edge.
Thinking Long Term
Many law firms operate with a one-year lifespan mentality—prioritizing immediate returns over sustainable growth. But without a deliberate cultural shift toward long-term thinking, they risk falling behind. This article explores how firms can realign their strategy, structure, and leadership to support enduring success.
Trust Everyone… but Always Cut the Cards
The real challenge in moving beyond the billable hour isn’t pricing models—it’s trust. While fixed fees promise efficiency and profitability, mistrust and poor execution have left both clients and law firms dissatisfied. This article explores how blended rates can serve as a practical, trust-building step toward meaningful change in legal billing.
Making the Statue of Liberty Disappear
With no mandatory financial reporting standards, many law firms subtly manage their public financial data to shape perceptions. From partner satisfaction to merger leverage, the motivations vary—but the numbers don’t always tell the full story. Understanding how firms “stage” their performance is key to decoding the truth behind the spreadsheets.
Think Globally, Act Regionally
In a post-recession legal market, mid-sized and regional law firms may hold the winning hand. While many chased national giants and Fortune 500 clients, new data suggests the real opportunity lies closer to home—with loyal, growing, and often-overlooked middle-market clients. Is it time for firms to rediscover the power of going local?
Skinny Dipping: The Anatomy of Law Firm Demise
When the tide goes out, who’s exposed? Behind every high-profile law firm collapse lies a pattern—partner exits, shaky strategy, merger flops. Is your firm next, or are you just hoping no one notices you’re swimming naked?
Post-Recession Globalization
To the extent that there is anything good about an international economic meltdown, it can be credited with having forced a lot of law firms to reconsider their globalization plans. As the recession drove red ink for the international investments of many firms, more than a few of them are looking at their international offices […]
Post Recession Globalization
The recession didn’t just hit bottom lines—it forced law firms to confront the flaws in their global expansion strategies. As the tide of blind ambition recedes, firms must now ask: does our international growth actually serve a purpose, or were we just collecting flags?
Alternative Billing: Don’t Drink the Kool-Aid Quite Yet
A lot has been written about the huge paradigm shifts that will result from the recession. I’m not sure that all the changes will actually stick–which doesn’t mean they aren’t good things anyway.
The Bookstore Window: Dealing with a Strategic Focus
In law firm strategy, focus can feel like favouritism—but spreading resources too thin rarely wins. This article explores how one firm tackled the politics of prioritization and built consensus around investing where it counts most.