Search

The article discusses the importance of managing client and firm expectations through feedback and evaluation processes. Topics include the benefits of proactive performance feedback for firm leaders, the impact of self-assessment biases on personal evaluations, and how establishing clear goals and performance metrics can enhance leadership effectiveness and accountability.

The article offers information on the importance of strategic planning for law firms, highlighting the increasing risks and opportunities in the legal industry. Topics include the need for strategic planning to evaluate risks and opportunities, the involvement of firm leaders in the planning process, and the time and effort invested in developing formal written strategic plans.

The article discusses strategies for ensuring task completion within a law firm, emphasizing the importance of voluntary participation, breaking tasks into manageable steps, and seeking personal commitment. It also discusses setting clear deadlines, producing written summaries of commitments, and following up with partners individually.

The article discusses the complexities of implementing a strategic plan, emphasizing that successful execution requires addressing several key challenges. Topics discussed include avoiding common "strategy viruses" such as insular thinking and perfectionism, overcoming hurdles in implementation like unclear objectives and lack of ownership, and employing a strategic implementation premortem to anticipate potential failures and devise preventive actions.

The article focuses on the importance of firm leaders maintaining a strategic focus amidst operational demands, offering insights on time management and decision-making. Topics include the need for leaders to prioritize strategic initiatives, manage time effectively, and delegate responsibilities to empower colleagues and foster leadership development within the firm.

The article identifies issues confronting law firm leaders in 2024. Issues discussed include motivation of lawyers to work harder, use of artificial intelligence (AI) technology to deliver legal services, initiative to respond to economic conditions, the need to focus on the marketing efforts and core practices of law firms, differentiation of a law firm's ability to provide service from other competitors, identification and grooming of future leaders and management of expectations of partners.

The article provides guidelines for successful co-leadership in law firms, emphasizing the importance of clear communication, defined roles and mutual respect between co-leaders. It advises co-leaders to assess their strengths and weaknesses, establish decision-making processes and prioritize the firm's goals over individual ambitions. Additionally, it discusses the challenges of managing egos and maintaining seamless coordination between co-leaders.

The article focuses on practical advice for developing industry specialization, covering topics such as launching a new industry team, defining responsibilities for industry team leaders, assessing the effectiveness of industry focus, and the importance of tailoring thought leadership to specific industries. The author provides insights and actionable steps for lawyers seeking to navigate and excel in industry-focused legal practices.

Some years back, global management consultants at McKinsey & Co. proposed that the complexity and intricacy of managing a professional service firm deserved a multiplier of five, in terms of [...]

Last year witnessed the formation of the first international legal think tank: LIFT (Legal Institute for Forward Thinking), comprising thought leaders from three countries. At its inaugural December meeting in [...]

When a firm leader's departure is predictable, firms need to take appropriate steps to ensure a controlled and effective succession process that minimizes the inevitable disruption likely to occur. 1. [...]

World-class motivational expert and author of Natural Born Winners, Robin Sieger, once said, 'planning is as natural to the process of success as its absence is to the process of [...]

There will undoubtedly be times during your tenure as an Office Managing Partner or a Practice or Industry Group Leader when you will want to set a direction for your [...]

The article presents key findings from a survey on law firm leadership, highlighting the challenges and responsibilities faced by firm leaders, including the lack of clear job descriptions, formal training, and succession plans. Topics include the challenges of law firm leadership, job descriptions, leadership training, and succession planning.

The article focuses on practical advice for law firm leaders, addressing key aspects such as paying attention to effective communication, leadership experiences and avoiding strategy-related pitfalls. It emphasizes the importance of staying informed about the external environment and communicating effectively to build strong relationships within the firm. It also highlights leadership experiences and provides insights into avoiding common strategy-related challenges.

The jobs of being a firm leader at a law firm should come labeled with a clear warning: This job could seriously change you and how you behave within your [...]

Cooperation in the workplace is a valuable commodity. While it can be challenging to achieve anywhere, your garden variety corporate enterprise is armed with a whole host of tools to [...]

The following are comments I made during a Webinar concerning the issue of Change. The presentation also featured David Morley, Senior Partner, Allen & Overy LLP; David J. Parnell, ABA [...]

It's hard to deny: clients today are particularly skeptical. So, one difficult challenge each of us as professionals face is coming up with a convincing response to the critical question [...]

We recently presented law firm leaders with a selection of over 50 particularly timely 'burning issues' (i.e., those critical business issues concerning technology, market development, profitability, client demand, cultural shifts, [...]

Many new managing partners are not prepared for the realities of what it takes to be successful in the role. Indeed, the vast majority end up getting blindsided by all [...]

From Peter Williams at Deloitte I learned, 'we have this target that 30 percent of revenue must come from stuff that we were NOT doing two years earlier.' And from [...]

The following is drawn from comments I made during a recent Webinar concerning issues related to partner performance and featuring my fellow panelists: Vincent Sergi, Chairman Emeritus, Katten Muchin Rosenman [...]

The article discusses the rising trend of co-leadership models in law firms, highlighting the potential benefits and challenges associated with having two leaders. Topics include the rationale behind co-leadership, potential challenges such as accountability issues, compensation concerns, and power struggles, and the impact on firm strategy and leadership responsibilities.

The article discusses principles to be determined by leader of a law firm. Topics discussed include consideration of things that needs to be changed in an organization along with developing working relationships, consideration of how decision will be reached known as fundamental leadership act, and confidence, conviction and capability required by credibility in a leadership.

The article discusses about the significance of endorsement, a written communication from a client that talks about what is special about you, your actions, your efforts, or your results. It informs that endorsement should describe the work undertaken, highlighting the success achieved, and include a comment that reinforces that this client is happy to recommend you.

Given the need in today's competitive environment to examine carefully our directions for the future, I submit that the state of most law firms' formal strategic planning tends to be [...]

The following is drawn from comments by Contributing Editor Patrick J. McKenna during a Webinar on the subject of change. QUESTION: Why do you think firms find change to be [...]

In discussions with new firm leaders before they formally take on the role, I ask them what it is they think they'll like doing the most; in other words, where [...]

Let's look at what is now happening in advanced education and specifically with the long-revered MBA degree and compare it to what is happening, and not happening, within our own [...]

The following is an excerpt from comments by Patrick J. McKenna during a Webinar entitled 'Stimulating Innovation In Law Firms,' hosted by the Ark Group and featuring Andrew Smulian, Chairman [...]

How many times have we read the commentaries of managing partners attempting to explain away stagnant revenue, declines in profit, the departure of rainmaking stars, or the sudden closure of [...]

Every firm eventually finds itself in need of a new leader. The Executive Committee or Board must seek to replace the current incumbent as that individual comes to the end [...]

The other day I received a note from the Director of Professional Development at a 600-attorney firm that I had worked with on a number of occasions over the years. [...]

The very concept of leadership is elusive and tricky. Every business book author coins a new 'type,' which is then sold as the latest elixir for whatever ails us. We [...]

As the story goes, it was a warm spring day in Princeton, New Jersey. Once Albert Einstein, who was then working at the Center for Advanced Studies, was found hands [...]

This article is based on excerpts from comments made during a Webcast on March 12, 2014, entitled 'Successful Lateral Hiring,' hosted by the LA Daily Journal and featuring Professor Bill [...]

The article focuses on how law firms can accomplish incredible success by implementing strategies that focus on client-industry specialization.It provides specific questions and brief responses on how this new reality will affect current and prospective marketplace success. It also includes ten growing billion-dollar niches worth identifying and ten questions to consider when investing in new emerging practice.

The article focuses on the importance of industry specialization for law firms and how to accomplish it. Topics include why it is difficult for some lawyers to understand their clients' industries and industry-focused lawyer; and how to create value for clients by sharing one's thought process while emphasizing the importance of providing total business solutions to clients and sharing thought processes, which can differentiate a law firm as a trusted business advisor.

In an article I wrote called 'Malignant Leadership,' I talked about the merits of psychological evaluations and about how 'increasing stress, work overload, fatigue, high emotion, and lack of social [...]

In 2007, I initiated a survey in which I asked firm leaders to reflect on the various managing partners they had met, observed, and/or read about, from across the country, [...]

If there is one single frustration that I hear from firm and practice leaders on a continual basis, it is trying to determine how to deal with 'commitment drift.' In [...]

Having spent a good number of years studying and working with leaders whom I have come to admire, I conclude that the greatest challenge, for any of us in leading [...]

The article discusses the challenges faced by law firms specializing in industries that have been adversely affected by economic conditions, such as the decline of brick-and-mortar retail. It mentions the importance of monitoring industry trends, adapting to new technologies, recognizing micro-niches within the industry, and offering specialized expertise in areas like online security, privacy, and governance to serve clients effectively.

I spotted a great article authored by Marshall Goldsmith. Marshall and I both had contributions included in a book published a few years back entitled In the Company of Leaders. [...]

Imagine that a complex legal problem can be mapped into a decision tree with millions of 'if this, then that' branches. Subject matter experts (lawyers) might be able to predict [...]