When talking to law firm leaders, it’s not often that you hear complaints about the strategic planning process itself. Planning for the future is always a good idea. Implementing that plan is where the rubber hits the road, though. This is also where things often become problematic. ... Read More

Back in the day, conferences were perhaps the most popular networking activity for lawyers. Today? Not so much. Many lawyers, especially younger ones, turn to social media as a substitute for in-person networking. Even with lower attendance numbers, however, conferences still provide excellent networking opportunities. More specifically, they are a great place to meet new people, thereby expanding your network and broadening your opportunities. ... Read More

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

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

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

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

“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

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

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

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

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

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

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

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

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

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

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

A critical component of a law firm’s succession plan is to figure out how to retain the firm’s best clients when senior lawyers retire. Most law firms quickly jump to determine who in the firm is either ready to step up or ready to undertake proper mentoring and training to step up in the future. Before making this determination, however, it is important to ask several questions. ... Read More