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Strategic Planning in Times of Crises: You’re Doing It Wrong, but Does It Matter?

April 9th, 2019
Most definitions of strategic planning focus on the idea that an organization needs to step back to look forward so it can determine its future goals for success. According to one definition, strategic planning involves “envisioning a desired future and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.” Another definition is “the development of an organization's purpose and goals, beyond the immediate future, and actions to achieve those goals.” ... Read More
Categories: Business Development, Practice Management

Superb Client Experience: The Simplest Details Count the Most

March 11th, 2019
How many times have you been at a restaurant and forgot to bring your pair of reading glasses? If you’re like me, more times than you can remember. And when you ask if there are any extra pairs around, few restaurants have any. But for those that do, what a difference that pair can make at the end of a meal, capping off the whole experience on a high note. ... Read More
Categories: Business Development, Practice Management

How Do You Value a Firm When Selling to an Insider?

February 6th, 2019
Valuing a law firm for sale is never as straightforward as one might like. This is especially true when looking to sell to an insider. ... Read More
Categories: Selling Your Practice

Never Forget the Value of Your Firm’s Staff

January 4th, 2019
A sole owner of a small law firm recently hired me to create a strategic plan and a succession plan. During our initial conversations, I asked questions to discern more about the firm and its culture. The owner went out of his way to tell me that he values and respects everyone, including staff—not just the lawyers. I responded, “That’s great!” ... Read More
Categories: Business Development, Practice Management

Fearing Retirement? Don’t Worry, Be Happy!

December 1st, 2018
Last month, I went out to dinner with some friends. One friend announced to the group that,  after working for a large telecommunications company for more than 25 years, he was being offered an opportunity to retire early with some very nice incentives. He further informed us that he had intended to retire within the next year. So, the offer was not going to change his planned retirement date in any significant manner.  ... Read More
Categories: Retirement/Succession

Debunking the Biggest Rainmaking Myth

November 5th, 2018
“I can never be successful at rainmaking because I’m an introvert.” Does this sound like you? I have one word in response to this common refrain from lawyers: Bulls***. Quite frankly, this is a myth that provides an easy excuse to avoid doing what all attorneys know they need to do: get out of the office to create and develop relationships with potential client and referral sources. So, simply put, you can be successful at rainmaking even if you’re an introvert. Here’s how. ... Read More
Categories: Practice Management

What Happens to Your Website if You Sell Your Practice?

October 8th, 2018
If your firm is like many solo and small law firms, a significant portion of your firm’s value derives from the amount of business your website generates. When selling a law firm—be it an actual sale or a transition to another firm as “of counsel”—it is therefore critical that the buying firm retains the benefit of the seller’s previous website traffic. ... Read More
Categories: Blog, Selling Your Practice

Be a Joiner: Networking for Success as a Lawyer

September 6th, 2018
Like most attorney business development coaches, I’m a big fan of one-on-one networking. It’s in this setting that you’ll have the best opportunity to develop a genuine relationship—one that will hopefully lead to new business. ... Read More
Categories: Blog, Business Development, Legal Careers, Practice Management

Failing Health Causes Failed Succession

August 8th, 2018
More lawyers are working well into their 70s. Indeed, I am no longer surprised when I meet lawyers still practicing in their 80s. What’s behind this growing trend of aging attorneys? ... Read More
Categories: Retirement/Succession

Should My Associate Be My Successor?

July 16th, 2018
As a small law firm owner thinking about retirement, you are likely looking to your own associate to be your successor. This decision is not one to enter lightly, however. Before you make anything official, you need to consider whether your associate has the talent and the skills to pull it off. Just because the associate handles files well has no bearing on whether they can successfully operate a law firm. ... Read More
Categories: Retirement/Succession

Ethical Billing Practices to Keep Your Clients Happy

June 11th, 2018
You’ve heard it from me and others; the key to satisfied clients is managing client expectations. And fees are perhaps the single client service area where lawyers fall short the most when managing expectations. Failure to manage fee expectations will not only lead to an unhappy client, it could also subject you to possible discipline. Remember, Rule 1.5 of the Model Rules of Professional Conduct (Fees and Division of Fees), states in relevant part: ... Read More
Categories: Practice Management

Compensating Retiring Lawyers for Client Transition Efforts

May 10th, 2018
A key aspect of any law firm succession plan is keeping the firm’s best clients when the rainmakers are gone. As more Boomers retire or start their winding down efforts, concerns about client retention and proper compensation are at the forefront of succession plan conversations. ... Read More
Categories: Practice Management, Retirement/Succession

Closing versus Selling a Law Practice: Why Not Get Money for Your Efforts?

April 4th, 2018
Are you a solo lawyer or small-firm owner facing retirement? Then, like most Boomer lawyers out there, you’re contemplating the option of selling your law practice. ... Read More
Categories: Selling Your Practice

Should a Solo Join a Bigger Law Firm? Is Bigger Better?

March 30th, 2018
It’s common for the successful solo practitioner to have bigger law firms approach them for recruiting the practitioner and joining forces. It’s also common for those practitioners to seriously consider the offer, often thinking the grass may be greener. But what makes these offers so tempting? There are many reasons, some of which are sensible, but most of which are not. ... Read More
Categories: Business Development, Practice Management

So, You Want to Be a Managing Partner? Make Sure You Embody These Qualities First.

March 2nd, 2018
Whenever someone I know becomes a firm’s managing partner, I always express my congratulations and condolences. Yes, it certainly is a feather in one’s cap to be the Big Cheese at a law firm. But, let’s be frank; it’s a tough job. Ask any managing partner and they’ll often tell you that practicing law is far easier than managing a law firm. ... Read More
Categories: Practice Management

How to Approach Difficult Conversations About Succession Planning

February 8th, 2018
Talking about a firm’s future is hard enough. Build onto that the need to plan for a future that doesn’t include a senior attorney… Talk about awkward! There is also fear on the part of younger lawyers. It can often feel confrontational to approach senior lawyers and ask about their future plans. ... Read More
Categories: Retirement/Succession

Solos and Small Firm Owners: Don’t Delay Your Succession Planning

December 28th, 2017
Succession is perhaps the most significant long-term challenge facing soon-to-be-retired, baby-boomer solo practitioners and small law firm owners. This is understandable, as a variety of psychological and emotional factors stack the odds against you laying the foundation for a smooth transition. ... Read More
Categories: Retirement/Succession

How to Know If & When the Time Is Right to Switch or Tweak Practice Areas

November 29th, 2017
After several years (or perhaps decades!) of practicing in a specific area, it’s no wonder you are considering change. What is prompting your desire for change, though? Boredom? Market changes? A desire to get out completely? Or an internal drive to simply spice things up a bit? ... Read More
Categories: Business Development, Practice Management

What Lawyers Can Learn From Apple When Setting Billing Rates

October 30th, 2017
Last month, Apple unveiled its new iPhone X to much fanfare. Perhaps what created the most fanfare was its price. It starts at $999; hundreds more than the older iPhone 7 and the brand-new iPhone 8. ... Read More
Categories: Business Development, Practice Management

Succession Planning Scenarios for Solos & Small Law Firm Owners

September 13th, 2017
For solo practitioners and small law firm owners seeking retirement, here is a quick, down-and-dirty summary of the succession plan strategies available to you. Put another way, here are three structural ways that soon-to-be retired lawyers can “sell” their practices. ... Read More
Categories: Retirement/Succession, Selling Your Practice
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What I liked most about Roy was his willingness to reach out and gather information. For example, he answered an hourly rate question that I had by reaching out to one of his clients and my google local question about our move by reaching out to his…" Read the rest
– Owner, small Richmond, VA law firm
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Blog Index

Strategic Planning in Times of Crises: You’re Doing It Wrong, but Does It Matter?
Superb Client Experience: The Simplest Details Count the Most
How Do You Value a Firm When Selling to an Insider?
Never Forget the Value of Your Firm’s Staff
Fearing Retirement? Don’t Worry, Be Happy!
Debunking the Biggest Rainmaking Myth
What Happens to Your Website if You Sell Your Practice?
Be a Joiner: Networking for Success as a Lawyer
Failing Health Causes Failed Succession
Should My Associate Be My Successor?
Ethical Billing Practices to Keep Your Clients Happy
Compensating Retiring Lawyers for Client Transition Efforts
Closing versus Selling a Law Practice: Why Not Get Money for Your Efforts?
Should a Solo Join a Bigger Law Firm? Is Bigger Better?
So, You Want to Be a Managing Partner? Make Sure You Embody These Qualities First.

See our complete Blog Index.

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