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The capital structure of the typical law firm has barely changed in living memory, but the traditional barriers to innovation are slowly cracking, creating opportunities for great lawyers to build the best professional homes for themselves. It is not accidental that funding the creation or growth of law firms and practice groups has tended to follow a traditional path. Rather, this circumstance is a combination of traditional legal temperament and structural barriers to innovation. Recently, there have been changes to both.
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Expense Right-Sizing In a Challenging Economy
By Rob Mattern
What strategies can law firms take to rein in expenses during a challenging, down market to avoid further layoffs? Look no further than the firm’s back-office operations. This article presents a brief overview of five areas where your firm can not just “cut costs” but actually improve operations while doing so — this is expense “right-sizing.”
What Successful Hybrid Firms Are Doing
By Anthony Davies
We are seeing is a variety of successful measures that are designed to help attorneys get what they want: a best-of-both worlds scenario where they keep some work-from-home and fold-in an opportunity to intentionally connect and collaborate with colleagues in the office.
Improving Firm Profitability Through Contracts
By J. Mark Santiago
The best and most effective way to drive firm profitability is through influencing partner behavior. The best way to incent the partners is by linking their compensation clearly and directly to the achievement of the firm’s business strategy.
Techniques That Up Your Team Management Skills In 2023
By Sharon Meit Abrahams
Being a good team leader is not easy. It is your responsibility to manage everything about the people and the positions you oversee. Good team leaders create an environment in which attorneys and staff work hard, are loyal, and add to profitability. Setting expectations and goals is an essential step in becoming an effective team leader.
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