Posts

Recruiting Your Successor (Promising Premise, Perilous in Practice)

February 6th, 2020
One retirement exit strategy often considered by solo practitioners and small law firm owners is the "recruit your successor" one. The idea behind this strategy is to find a young, inexperienced lawyer who is then groomed to take over the practice. ... Read More
Categories: Uncategorized

If There’s a Will, There’s a Way: Comparing Succession Planning to Estate Planning

January 7th, 2020
I was recently reading the business section of my local newspaper and came across an article on the importance of having a will. The focus of the article was on how to prevent people from delaying getting the task accomplished. The writer asked several financial planners for the best strategies they use to help their clients complete this task. ... Read More
Categories: Retirement/Succession

Law Firm Revenues Down? Stop Blaming the Competition.

December 3rd, 2019
Lawyers are quick to blame the competition when challenged about why their firm’s revenues are not better. Before you keep on with the finger-pointing, you might want to stop and assess how your firm performs in light of some of the findings from the latest Clio Legal Trends Report. ... Read More
Categories: Business Development

Preparing for the Unexpected & the Inevitable: Law Firm Succession Planning for Disability & Death

October 1st, 2019
Lawyers are notorious for thinking of ways things can go wrong for their clients and then determining the best ways to protect their clients from them. One calamity few lawyers ever consider, however, is their own unexpected disability that puts their career on hold—or worse, their death. ... Read More
Categories: Retirement/Succession

Considering a Document Review Job? Weigh the Risks First.

September 4th, 2019
Although the market for legal jobs has vastly improved since the Great Recession ten years ago, it is hardly a robust one for recent law school graduates. One popular job-of-last-resort is document review—a job that many of my coaching clients assert is “mind-numbing.” And, of course, it does not pay particularly well; usually around $20-30 per hour. ... Read More
Categories: Job Search

Including Office Space as Part of a Law Firm Sale?

August 6th, 2019
Small-firm owners and solo practitioners looking to sell their law firms frequently believe that their particular office space—whether owned or leased—significantly enhances the value of their practice. They usually base this belief on the office’s superior location or their upscale furnishings and design. ... Read More
Categories: Selling Your Practice

A Few Quick Tips When Implementing a Strategic Plan

July 8th, 2019
When talking to law firm leaders, it’s not often that you hear complaints about the strategic planning process itself. Planning for the future is always a good idea. Implementing that plan is where the rubber hits the road, though. This is also where things often become problematic. ... Read More
Categories: Business Development

Rainmaking at Conferences: Easy Tips for Connecting With New People

June 18th, 2019
Back in the day, conferences were perhaps the most popular networking activity for lawyers. Today? Not so much. Many lawyers, especially younger ones, turn to social media as a substitute for in-person networking. Even with lower attendance numbers, however, conferences still provide excellent networking opportunities. More specifically, they are a great place to meet new people, thereby expanding your network and broadening your opportunities. ... Read More
Categories: Business Development

Valuing & Distinguishing Goodwill When Planning Your Firm’s Succession

May 6th, 2019
When it comes to planning your law firm’s succession, a primary area of concern for your successor is whether your clients will choose to work with that successor after you leave. One way to assess that is to evaluate the type of goodwill that exists with your clients and whether that goodwill carries any transferrable value. ... Read More
Categories: Retirement/Succession

Strategic Planning in Times of Crises: You’re Doing It Wrong, but Does It Matter?

April 9th, 2019
Most definitions of strategic planning focus on the idea that an organization needs to step back to look forward so it can determine its future goals for success. According to one definition, strategic planning involves “envisioning a desired future and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.” Another definition is “the development of an organization's purpose and goals, beyond the immediate future, and actions to achieve those goals.” ... Read More
Categories: Business Development, Practice Management
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Our firm is glad we went through the strategic and succession planning process with Roy and have implemented many of his suggestions. Not surprisingly, some, though not all, of Roy’s ideas were things that I, as the firm’s leader, had wan…" Read the rest
– Managing partner, small central NE law firm
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Blog Index

Recruiting Your Successor (Promising Premise, Perilous in Practice)
If There’s a Will, There’s a Way: Comparing Succession Planning to Estate Planning
Law Firm Revenues Down? Stop Blaming the Competition.
Preparing for the Unexpected & the Inevitable: Law Firm Succession Planning for Disability & Death
Considering a Document Review Job? Weigh the Risks First.
Including Office Space as Part of a Law Firm Sale?
A Few Quick Tips When Implementing a Strategic Plan
Rainmaking at Conferences: Easy Tips for Connecting With New People
Valuing & Distinguishing Goodwill When Planning Your Firm’s Succession
Strategic Planning in Times of Crises: You’re Doing It Wrong, but Does It Matter?
Superb Client Experience: The Simplest Details Count the Most
How Do You Value a Firm When Selling to an Insider?
Never Forget the Value of Your Firm’s Staff
Fearing Retirement? Don’t Worry, Be Happy!
Debunking the Biggest Rainmaking Myth

See our complete Blog Index.

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