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Many leaders are no longer focused just on business development but are also trying to figure out how to continue making money and structure their firms in a way that allows them to spend the requisite money to pay top talent.
Law firm leadership has plenty to keep them up at night: technology gobbling up the bottom of the leverage pyramid, flat market demand, tectonic cultural shifts, ever-expanding skill set demands and more. Traditionally, I’ve found that developing new business and generating client loyalty is top-of-mind in strategy sessions, but more and more I am hearing that there is a new specter that looms largest for many and in particular the “elites”: the gain/loss of major rainmakers. See Figure 1, below.
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Jump-Starting Business Development After Living in a Socially Distant World
By Deborah C. Scaringi
How do we go back to conducting productive business without seeming callous to the harsh realities many people are experiencing?
Prosecuting PPP Fraud May Be Harder Than It Seems
By Christopher M. Ferguson
This article discusses what tools the government has for pursuing seemingly undeserving PPP borrowers, the obstacles to bringing such cases, and the factors that may influence the government’s decision in pursuing criminal or civil cases.
Demand for Contract Lawyers Is Rising from COVID-19 Business Disruptions
By MP McQueen
Recruiters say the demand for contract attorneys in corporate and government legal departments and law firms is rising as the ongoing COVID-19 pandemic creates more of certain types of legal work.
Small Law, Big Changes: The Coming Disruption in the Legal Industry
By Rinky S. Parwani and Greg Garman
The billable hour is still profitable from a transactional perspective, but from a strategic perspective, in today’s economy, that profitability has begun to erode. That’s because our economy has fundamentally transformed into a service economy that is based on leverage and scale.
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