Five emerging faces are changing the competitive landscape of the legal industry in permanent ways. Is your practice sustainable? The new faces of the legal industry include: 1) The Ultra Profitable Firm — The handful of AmLaw firms whose profits per partner are so great that they are able to leverage their buying power to…
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August is the weakest month for billable hours in the United States, according to a Law 360 article published last month. Taking advantage of downtown to relax and rejuvenate is an important aspect of all of our lives. But before you completely shut down, take time out to think about your business development strategy for…
I recently had the privilege of moderating a panel of general counsel in San Diego to get their perspectives on working with outside counsel in the posts-recession economy. The lesson I took away from the conversation was about the value of follow up. While there were a variety of views on the best way to…
Globalization, technology, and law firm economics are changing the face of the legal industry. Lawyers are not going to go away, but the practice of law is going to be different. Law firms need to understand where they fit in the market, who they compete against, the type of work they compete for and how…
The career path for attorneys has never been more challenging. While lawyer job dissatisfaction is nothing new, rapid changes in the legal industry create uncertainties for attorneys who plan to practice law for another decade or longer. Increased focus on profitability and changes in the law firm business model impact every lawyer: Service partners who…
I participated in the Vistage All-City event in San Diego last week where Brian Beaulieu of ITR Economics spoke about how to stay ahead of the curve in light of the economic forecast for 2014 and beyond. His view: The long-term economic outlook remains dark with the next big downturn expected in 2018. Inflation and…
For the last several months, I’ve been refocusing my service offerings around ways I can help law firms and individual attorneys build law practices that will be sustainable beyond the next five years. In doing so, I realized that several books have become fixtures on my desk. Two are directly related to the legal industry.…
U.S. Supreme Court Justice Sonia Sotomayor officially has reached rock star status with the crowds she is attracting for her book tour around the release of her memoir, My Beloved Life. I had the privilege of listening to her speak Sunday night at the University of San Diego, where she offered the perfect mix of…
Over the last year, I’ve been analyzing my work with law firms to apply the lessons learned and improve the services I deliver to clients. In doing so, several themes emerged that impact — in some shape or form — nearly every client I have ever worked with: 1) The marketing function — whether handled…
The fifth of a five-part series. The book and academy-nominated film Moneyball chronicles how the Oakland A’s transformed the business of baseball by proving statistics rather than subjective observations are a better measure of a team’s success. Taking a page from Moneyball, I set out to prove that objective measures are a better predictor of…
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