This is the fifth in a series of nine postings about successful innovation in law firms. Today we look at the third secret of successful innovation.
Write a conservative plan.
Conservative - even skeptical - planning might seem to be antithetical...
As noted before in this blog, the past three months have been an unusually busy time for our firm's partner compensation practice. Law firm partners worldwide are asking whether their present partner compensation plans are still relevant to the changed...
A surprising number of otherwise sophisticated law firms spend a horrifying amount of time and money pursuing strategic alliances, partnerships, or other relationships with other firms. Some of these relationships work well. Most, however, produce disappointing...
This is a the second in a series of nine posts about successful - and profitable - innovation in law firms.
As readers of this blog already have observed, Walker Clark, LLC, takes a strong risk-management approach to many aspects of law firm strategy...
The new year brings an upsurge in risky business.
To hire a partner from another law firm is one of the riskiest decisions that lawyers and law firms make. As we begin the new year we are already observing an upsurge in lateral recruiting and hiring...
I was recently asked about the improvements that law firms can expect to achieve when they establish a serious quality assurance program.
"Does all this quality stuff really produce results?"
We need to be clear that quality assurance...
Associate profitability could be the most important management issue for many - maybe even most - law firms over the next three to five years. One of the central features of law firms that have managed to increase profits against declining fee revenues...
This is the fourth in a series of nine postings about the secrets of successful innovation in law firms.
Successful innovations are not brainstorms that are instantly transferred from the flip chart to business reality. Instead, there must be a disciplined...
Perhaps the most difficult challenge for small law firms in small legal markets is to recruit and - sometimes even more difficult - retain high-quality associates. The assumption is that the small markets and the small law firms are at a substantial disadvantage...
One of the
best sources of entertainment about professional ethics is the monthly
newsletter of the Disciplinary Board of the Pennsylvania (USA) Supreme Court.
Because I cannot begin to approach the wittiness of their writers, I beg their
My colleagues and I at Walker Clark, LLC, occasionally encounter a law firm that should be much more successful than it is.
It has all of the ingredients:
Smart, experienced lawyers
Admirable dedication to the client
An almost religious...
Today the Law Society Gazette reports that a well-regarded century-old Sheffield law firm, Ashton Morton Slack, LLP , has failed. The firm had five equity partners and 67 staff, and was a general service law firm. The firm cites falling fee revenues and...
My colleagues at Walker Clark and I frequently stress the critical importance of informed strategic planning. Part of that information should include an in-depth understanding of the major trends that are shaping our changing world. Although global in...
Sometimes finding the right strategic partner is like looking for a new romance in a bar. The key to success is finding points of affinity upon which to build a relationship, whether for the rest of the evening or for a lifetime.
This is a second of...
My partner, Lisa M. Walker Johnson , has recently written two articles applying counseling psychology to two important challenges to law firm management.
Until Death...or Retirement: Thinking Differently About the End of a Law Firm Career