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Need Partners Who Can Effectively Manage Your Firm?

By Marci M. Krufka

As I work with partners in law firms throughout the country, I continue to be surprised at how little, if any, formal training they have had in the business of law ' leadership, management, profitability, and business development. I recall, with horror, lengthy discussions among partners as to why billable hours should be the only consideration in setting partner compensation. Or, I look at my imaginary bank overflowing with imaginary nickels ' one for each time a law firm partner told me that all a lawyer had to do to market him or herself was to “do a good job for the client.”

Lawyers are largely extremely bright and talented people. Most, however, do not have MBAs, did not study business in college and do not devote sufficient non-billable time each year to ongoing leadership and management training courses. Law firms are investing more than ever in professional development. Across the country, hundreds of firms have hired full-time professional development administrators to manage firm-wide lawyer training and development. Firms have spent many thousands of dollars developing formal, in-house orientation and training programs for lawyers.

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