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<b><i>Strengthening Cultural Expectations Is Key</b></i><p>Client relationship succession planning is a top concern among law firm leaders. Firms of all stripes frequently develop goals in their strategic plans to facilitate more effective client relationship transitions. However, there is room for many firms to take a more formal and proactive approach to effectively transition client relationships across generations.
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Conventional business development methods ignore an important part of the legal services selling process: the legal services buying process.
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It is vital to have effective marketing and communications, but if legal and business professionals don't listen for — and hear — the Voice of the Client, we risk missing the mark in our strategy, messaging and positioning.
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Reputation is everything. It only takes one misstep to cause irreparable damage to a law firm and its attorneys. As we get into 2019, it is imperative for law firms to plan for the effective management of myriad incidents that may have an adverse impact on the business of law and the reputation of the firm.
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An Astute Lawyer-Manager Must Achieve the Appropriate Balance of Building Consensus Among the Partners Applying management techniques to practice areas may introduce to the firm a new take on methods for enhancing profitability.
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As the volume of litigation continues to grow and the ability to manage it as a defendant or add to it as a plaintiff grows increasingly complex, legal costs will continue to rise in 2019 — and funding advocacy on both sides will remain a lingering challenge.
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What Lawyers Can Learn From Dentists Attorneys have historically let the client lead the payment dance. Lawyers do the work and hope/expect to be paid without waiting too long or discounting the invoice too steeply. Yet, here we are at the beginning of another year with many law firms still waiting anxiously for overdue checks to arrive. Shame on us for letting this happen. What can we do differently?
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When the Tax Cut and Jobs Act became law in December of 2017 there was a question whether some of the highest salaried employees at non-profit organizations would be exempt from the $1M remuneration tax. In the majority of states, the highest salaried employees are athletic coaches.
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The Big 4 accounting firms have identified legal services as an area for growth beyond traditional financial services and consulting services.
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"You have to spend money to make money." Or, so holds the well-worn cliché. For those firms struggling to find meaningful growth in today's market, where do they find the funds they need to spend in order to spur growth?