Law Firm Management

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Last month, we reviewed what a partner scorecard is and why keeping score is important. This month we review how to tailor a scorecard to your individual firm's goals.

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Money. Every firm has it. But unfortunately, some people want to take what doesn't belong to them, and they may seek out ways to target your firm's cash. The elements of motive, opportunity and rationalization are present in nearly every scheme. Eliminating or mitigating any of these factors will make it more difficult for a fraudster to target your firm. In a tightening economy, it is more crucial than ever that you remain diligent about protecting assets. The identification, implementation and testing of internal controls over cash receipts and disbursements is a critical step, because even small dollar amounts taken over months or years can add up and entangle your firm in a costly situation.

(ALMOST) INVISIBLE MARKETING III. This third in a series of Invisible Marketing tactics presents two approaches which are not quite "invisible," but are often overlooked by attorneys. The first is: DURING SPEECHES, HAVE OTHER FIRM MEMBERS IN THE AUDIENCE WORKING THE CROWD. Make sure you introduce your colleagues from the podium and indicate that they and you are availble to answer questions, send featured articles, discuss opportunities, etc. You are there to do more than "educate;"…

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This article is the first in a series about developing a customized scorecard for your firm's partners, specific information to include in the scorecard, tailoring it to your firm's goals, and getting partners to understand the scorecard and achieve greater success.

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Some believe that there are a few naturally gifted rainmakers in each firm who are born with a talent for generating business. That theory is not quite accurate. There is a science to it and that science is to promote oneself without ever engaging in self-promotion. Those who appear to be naturally gifted simply internalized this idea many years ago and have built it into their daily routine.

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The authors note: "It is amazing to us how often we meet attorneys who have the self-limiting belief that they will never be successful rainmakers. We constantly hear things like, 'I didn't go to law school to sell something,' or 'the people I know who develop business can do so only because it comes naturally to them.' These are excuses that may make us feel better when we say them, but they will not ever help us move out of our comfort zones to become well-rounded professionals.

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Who's doing what; who's going where.

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Like many organizations, title inflation has befallen law firms. Clearly, titles are important. Despite the temporary de-emphasis during the 'dot-com' era, titles are fundamental to any organizational design especially in a law firm setting where a more hierarchical model has always been valued. Used correctly, it can represent a way to reward, and in theory retain, talent. Positioning the marketing function at the 'C' level seems to make good sense, for the firm and certainly the executive. Despite this, before taking on the title ask yourself; am I getting a seat at the table or on the edge of a cliff?