October 2007 - More Partner Income

Year End Review of Law Firm Partner Agreement

Pull out that partnership agreement and take a read through. Over the course of the years, I have helped a number of firms contemplate the future. I always ask for a copy of their partnership agreement. What surprises me every time is how irrelevant the...

Published Wed, Oct 31 2007 1:33 PM by Admin

Filed under: Blog, Management, Partner Agreements, productivity

Business Life in the Law Firm--Trends and Issues

I spent a good bit of time with 230 law firm management and administrative folks at the annual Juris International Users conference. The Juris user group is unique in that the organization is completely independent. It is financed and run entirely by...

Published Tue, Oct 30 2007 1:56 PM by Admin

Filed under: Blog, Management, productivity, Technology

Law Firm Size Has Nothing to Do With It

The 2007 edition of the Juris Law Firm Economic Survey found correlations with per partner income among midrange law firms and those correlations weren’t related to size. It is not how big you are but how you play the game that counts. The highest...

Published Mon, Oct 29 2007 1:23 PM by Admin

Filed under: Blog, Management, productivity, Technology

Secret of Successful Law Firm Marketing

“Peter Drucker has often pointed out that the purpose of a company is to create a customer. Few professionals have yet grasped that concept, which is the reason why marketing is so difficult for them.” The preceding sentence is a quote from...

Published Fri, Oct 26 2007 1:43 PM by Admin

Filed under: Blog, Management, Marketing, productivity

The Strategy Problem in Law Firms

Why is there such a void in strategic planning and execution in midrange law firms? Consultants often point the finger at the lack of full time management. In my mind, the root cause is more systemic. It is a lack of investor value. The core mission of...

Published Thu, Oct 25 2007 2:08 PM by Admin

Filed under: Blog, Management, Planning, productivity

The Billing Method Is Not the Best Tool for Controlling Legal Cost

When it comes to controlling legal cost, Rees Morrison reports that alternative fee arrangements are getting disproportional attention. They may encourage continued bad behavior on the part of legal departments. Here is best way for corporate consumers...

Published Wed, Oct 24 2007 1:27 PM by Admin

Filed under: Blog, Management, productivity

Cash is the Life Blood of a Law Firm

Partners want all available income distributed every year. But doing so leads to trouble. One of the toughest jobs managing partners have is the task of convincing partners to leave something on the table every year. Businesses need capital to sustain...

Published Tue, Oct 23 2007 1:11 PM by Admin

Filed under: Blog, Cash Flow Issues, Management, productivity

Maister's Book is Required Reading for Law Firm Leaders

I read David Maister’s new book, Strategy and the Fat Smoker , this weekend. Most of us are former smokers and few among us have not struggled with our waist line. We know how hard it was to quit smoking and I know how hard it still is to eat right...

Published Mon, Oct 22 2007 1:28 PM by Admin

Filed under: Blog, Management, productivity

Law Firm Client Surveys

I have read very little in the past year dealing with client surveys. For a while it was in vogue. Now client surveys seems to have moved to the back of the collective mind of law firm managing partners. With a new year approaching, I suggest you dust...

Published Fri, Oct 19 2007 1:13 PM by Admin

Filed under: Blog, Management, productivity

Surveys Show Most Law Firms Are Underpriced

Altman Weil’s Survey of Law Firm Economics, 2007 Edition is available for purchase on the consulting firm’s web site . Their survey along with others such as the Juris Law Firm Economic Survey is an important source of information and benchmarks...

Published Thu, Oct 18 2007 12:45 PM by Admin

Filed under: Blog, Management, Pricing, productivity

The Right Way to Manage Change in the Law Firm

Bruce MacEwens's recent post on transformation change was a reminder that morepartnerincome.com has not address the important issue of change managment recently. Change is hard. Playing the 800-pound gorilla that is going to force change down everyone’s...

Published Wed, Oct 17 2007 1:17 PM by Admin

Filed under: Blog, Management, productivity

Decline in Trials Impacts Midrange Law Firms

One of the trends impacting midrange law firms is the decline in the number of trails by jury. As my lawyer brother notes regarding the litigation area, “Discovery and particularly deposition practice are becoming much more important for professional...

Published Tue, Oct 16 2007 1:39 PM by Admin

Filed under: Blog, Management, Operations, productivity

A guide For Law Firm Leaders on How to Herd Cats

Herding cats (lawyers) becomes easier when following the advice in a new book titled Made to Stick . How do you get your message across in a way that will change behavior and get everyone moving in the same direction? That is the mission of authors Chip...

Published Mon, Oct 15 2007 1:03 PM by Admin

Filed under: Blog, Management, productivity

Dual Payoff of Attorney Business Cards

If you know a top sales person, there is one thing you can count on. They are never without business cards. Yet as Ed Poll observed on LawBiz®Blog, a lot of lawyers still don’t get it ! To illustrate the marketing role of the business card,...

Published Fri, Oct 12 2007 1:53 PM by Admin

Filed under: Blog, Management, Marketing, productivity

How to Conduct a Law Firm Technology Assessment

Andy Adkins, director of Legal Technology at the University of Florida’s College of Law, and Natalie Kelly, director of Law Practice Management for the State Bar of Georgia, teamed up and gave the 2007 ABA Tech Show attendees a how-to check list...

Published Thu, Oct 11 2007 1:25 PM by Admin

Filed under: Blog, Management, productivity, Technology

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October 2007 - More Partner Income

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Year End Review of Law Firm Partner Agreement

Business Life in the Law Firm--Trends and Issues

Law Firm Size Has Nothing to Do With It

Secret of Successful Law Firm Marketing

The Strategy Problem in Law Firms

The Billing Method Is Not the Best Tool for Controlling Legal Cost

Cash is the Life Blood of a Law Firm

Maister's Book is Required Reading for Law Firm Leaders

Law Firm Client Surveys

Surveys Show Most Law Firms Are Underpriced

The Right Way to Manage Change in the Law Firm

Decline in Trials Impacts Midrange Law Firms

A guide For Law Firm Leaders on How to Herd Cats

Dual Payoff of Attorney Business Cards

How to Conduct a Law Firm Technology Assessment