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To encourage business development, many law firms track and bonus for origination credits. These credits can last anywhere from a single year to the entire lifetime of that client relationship. There is no doubt that the carrot of compensation helps to encourage the transfer of new work to other mem … Read more »

Many law firm leaders look at business planning as a massive, exhausting mountain to climb—something to be done once every three to five years, checked off a list, and forgotten. But treating business planning as a rare, monumental event is a dangerous mistake in today’s legal market. With technolog … Read more »

When I ask law firms if they have a strategy, most Managing Partners say “sure: we want to grow our client list, recruit and keep top talent, and increase our profitability”.  But if those goals only exist in the heads of the management committee or scattered across email threads, you don’t have a f … Read more »

Partners are the financial engine of your law firm. They generally land the biggest clients, manage high-stakes files, and consistently hit their billable targets. To the rest of the firm, they can appear invincible. But behind closed doors, many of them are quietly burning out. Lawyers are trained … Read more »

When law firm partners think about operational strategy, they usually focus on external threats. They worry about competing firms stealing their clients, technological disruption eroding their billable hours, or a sudden dip in the local economy.  But there can also be internal threats to the firm: … Read more »