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Increasingly, law firms rely upon acquiring lateral partners and practice groups to grow revenue more quickly than they can by increasing output with existing talent. Larger firms understand that this is a good way to move up quickly on the AmLaw 100 or 200 scale (which rank firms based on gross revenue) and increase average profits-per-partner (a key metric for attracting sought-after lateral candidates). Smaller firms also recognize the importance of lateral recruiting to making big jumps in profit over a short period of time. Regardless of where in the food chain a firm resides, achieving even incremental upticks in gross income through lateral acquisition can translate into substantial increases in profitability.
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CLE Shouldn’t Be the Only Mandatory Training for Attorneys
By Sharon Meit Abrahams
Each stage of an attorney’s career offers opportunities for a curriculum that addresses both the individual's and the firm's need to drive success.
Putting a Face (and a Voice) to Your Brand
By Jennifer Marsnik
Tips for Preparing a Spokesperson
An organization’s brand is among its most valuable assets. Just as we aim for consistent use of logos or taglines, maintaining control of messaging is an important component of brand management. To that end, it’s helpful to establish a spokesperson for media outreach, interviews and more.
Leveraging Law Firm KPIs for Success
By Peter Oliva
Measurement is an essential management tool for law firms to monitor performance, manage resources, and highlight areas that need improvement. Utilizing Key Performance Indicators (KPIs) in a law firm is crucial for evaluating performance, profitability, client satisfaction, and overall success.
It’s Not Business Development Or Marketing. It’s Business Development And Marketing
By Meg Pritchard
The common denominator between business development and marketing is the lawyers, who have to be savvy users of both the marketing and business development functions of their firms