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I can vividly recall my time as the managing partner of a small 40-attorney firm in Boston. Back in those days,' the words “business” and “development” were rarely used in the same sentence with respect to managing partner responsibilities. My role was far more administrative and financial ' at that point, there was more than enough business for our attorneys to meet their billing goals!
“These days,” however, thanks to an ever-evolving economic and legal landscape, it is imperative for the managing partner to also lead business development initiatives. While many firms now enlist the assistance of marketing and business development personnel, successful and effective managing partners are leading the effort in both thought and action. The managing partner is responsible for creating, protecting and enhancing a culture that is focused on client service, development and retention. Although he or she may rely upon others to implement various initiatives, it is the managing partner who sets the tone and standard.
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