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These days, we are continually being bombarded by one new tech concept after another ' the most current being IoT (or the Internet of Things) and Big Data. To feel secure moving our businesses forward among the onslaught of all these changes, it is necessary to simplify our understanding.
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If your firm is like most, your top goals include growing revenue, and in turn, increasing profitability. You've implemented practice management software, and probably even a customer relationship management (CRM) system to help you achieve those objectives. Now what?
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Lawyers love a debate, and it looks like a doozy is set concerning nonlawyer ownership of law firms (NLO). The president of the New York State Bar Association, David P. Miranda, has requested that New York lawyers just "Say No to Nonlawyer Ownership (NLO)."
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Since debuting in law firms nearly a decade ago, the latest generation of lawyers has raised more than a few eyebrows.
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Question: Do law firms really need to please clients all of the time? Answer: Of course not. Only work to please those clients you wish to keep.
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Strategy is a high-value word. When something is "strategic," it is seen to have value and purpose. What then is the strategic value and purpose of thought leadership and content marketing?
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There have been four waves of change over the last 50 years. We are now entering the fifth wave and this one will be a tsunami. The lawyers who do not recognize the trends will not be able to enter a new era and survive. The fifth wave will turn partnership leverage, compensation systems and the business model upside down. There is not much time to make the incremental changes that will support sustained profitability in law firms.
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A powerful business plan can change your life, especially if you are in a moment of transition with your practice. Any lawyer who wants to have his or her own clients ' or more of their own clients ' should outline their plan to obtain that goal. Arguably, the most critical juncture is when you are looking at other firms in hopes of making a lateral move, but there are no bad times to put together an action plan for expanding your practice.
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Your OWN network is just as important to develop and maintain as it is for any professional. Because we spend so much of our time helping others to focus on cultivating their networks, we often neglect to tend to our own.
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In 1992, the American Bar Association called upon members of the legal profession to provide leadership and education in eradicating sexual harassment. According to the 1992 ABA report, "[l]awyers play a special role in educating society about sexual harassment and eliminating it from the workplace.