Law Firms Gain, But With Big Caveat
Law firms are back ' sort of. <br>Revenues and profits were up by nearly 10% in 2004, a clear sign that firms have shaken off the tech bust slump. <br>But even as the biggest legal shops are reaping the harvest of a buoyant economy, they face some difficult choices ahead to maintain revenues ' and to grow profits.
Around the Firms
This Month:<br>Ex-Partners Sue Townsend for Cut of Fees<br>L.A. Firm Brings Johnnie Cochran Name to San Francisco
Baby-Boomer Partners In Transition
The ranks of law firm partnerships include tens of thousands of "baby-boomer" partners (BBPs), born between 1945 and 1955. These attorneys are now ages 50-60. Surprisingly, little has been written about the expectations and needs of BBPs or the expectations, needs and strategies (if any exist) of their law firms and fellow partners as to BBPs. Moreover, law firm partners both younger and older than their BBPs may be substantially affected by their law firm's strategies for and treatment of the baby-boomer generation. <br>This two-part article illustrates the expectations, intentions - and tensions - of baby-boomers and their firms, respectively, by using two models. Of course, there can be as many variants as there are BBPs, with numerous potential responses to each unique situation.
Conference CD: Revenue-Focused Leadership
Attention group leaders, marketing partners, department heads, managing partners and marketing professionals. If you are charged with leading the efforts of others to develop more business for your firm, this web audio conference event is for you.
Conference CD: P.R. Professional Inside and Out
Topic areas of this Web Audio event include:Advantages Of An Inside Person: Is It The TrendReporting Structure: Who's Responsible'CMO, Marketing Director, Partner, or Firm ChairOutside P.R. Firms: What They Have To Offer And How It's Impossible To DuplicateThe Best of Both Worlds: A Blend Of Both
Conference CD: Staffing a Law Firm Marketing Department
Topics covered include: ' conducting a needs assessment' size of the department, job descriptions, roles and functions' communicating with firm management, facilitating staff and when to outsource' marketing departments that endure are built from the ground up' being a hands on key marketing executive...the buck stops with you!
Time to Replace Your Accounting Software?
Changes in business strategies, rising client demands, and technology advances all have made a law firm's choice of accounting software an ever more important management decision. Five years ago the Y2K scare led many firms to upgrade or replace their accounting systems out of perceived tactical necessity. Now, however, an assessment of your accounting software should be strategic: how well does it support your overall business objectives?
Conference CD: Advanced Law Marketing Summer Session
This Marketing the Law Firm presentation includes:' The View From The Top...the managing partner's perspective on how to create a marketing and business development culture that resonates with everyone.' The Communications Component Of Marketing And Business Development...getting the message conveyed with an eye toward expanding existing business and attracting new business.' The "S" Word...sales in the world of law...what sales can deliver and what it cannot.' The Marriage Of Marketing And Technology...how technology can really impact business development; it's not just about having a Web site.
