Here are five principles (in no particular order of importance) of which all lawyers should remind themselves if they are in a position to decide how much to pay other lawyers at their firm, or are on the receiving end of such decisions. ... Read More

Boomer lawyers are retiring in record numbers. Many are the same ones with the biggest book of business. Does your firm have a strategy to transition those clients to your firm’s younger generation? And remember: hope is not a strategy. ... Read More

It doesn’t seem that long ago that I was writing about how Big Law was essentially hiring any warm body who could bill hours. Well, times have changed. Now the headlines are about law firm layoffs. If you’re one of those casualties, here are a few dos and don’ts that will maintain your sanity while moving you closer to finding your next job. ... Read More

Retirement, for most Americans, lasts about 15-20 years. Many plan for it in a very one-dimensional manner. That is, they only think about whether they will have enough money to live the life they want. Few, however, think about what they are actually going to do during those years, and how to best plan for that. ... Read More

The number of attorneys practicing after reaching the age of 65 has grown by more than 50% in the past decade. Roughly 15% of all practicing lawyers are 65 or older. As a group, we also seem to work longer than others. Only 7% of the general workforce stays employed beyond 65.

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During the pandemic, there’s hardly a soul working for a living who hasn’t re-examined what’s essential for their job satisfaction. Work-life balance and flexibility have probably received the most attention. However, many have lost sight of what, for a majority of people, is the most important factor: one’s boss. ... Read More

I’ve written before about how buying a law firm can be a very effective, low-risk, and low-cost means to grow a practice. That said, what is it about the legal profession that, on occasion, makes it more challenging to sell a practice than hoped? As a consultant and coach, I’ve worked with hundreds of lawyers of all shapes and sizes in virtually every state and practice area. From that experience, I’ve become somewhat of an expert in understanding the DNA of those in our profession. Here are three fundamental truths in the DNA that impact buyer behavior. I call them the “do-nots.” ... Read More

With so many lawyers contemplating retirement, your law firm succession plan has never been more important. Take a careful look at your law firm’s most influential leaders and biggest rainmakers. Chances are good that these individuals will be retiring over the next decade. Is your law firm prepared for this seismic generational transition? The impact will be felt well beyond the law firm itself. ... Read More