“If we act like the New York Yankees in this room, we are going to lose to the Yankees out on the field.” – Billy Beane, Oakland A’s General Manager Like baseball, the law firm competitive landscape is not an even playing field. Large firms continue to consolidate. The richest firms are getting richer. They…
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Eastman Kodak’s recent bankruptcy filing has me thinking about what impact, if any, the non-economic health of a law firm has on its long-term success. Often described as the Google or Apple of its day, Kodak was a true titan of industry that thrived on a relatively simple formula— investment in people, investment in technology…
Law firms have never been under more pressure to provide efficiency, transparency and pricing predictability to clients. Yet attempts to adopt business practices that will help lawyers better understand the way they work and inform decisions on how to better serve clients are proving extremely difficult. In the eyes of most lawyers, you can not…
They say admitting you have a problem is the first sign of recovery. For most law firms, that means acknowledging that you don’t have a business plan for practicing law. How is your firm doing? If you can answer the following 12 questions with concrete answers, you are on the right track. If not, it…
I’ve been following with interest the debate prompted by so-called “scam bloggers” over the value of a legal education and the obligation of law schools to provide accurate data to students about post-graduate job placements. I empathize with graduates entering the workforce in search of jobs that don’t exist. I appreciate the added stress on…
Reflections on the impact of the emerging Global 25: Part 1 The American Lawyer’s “Second 200” issue provides more evidence of the widening gap between the country’s largest firms and everyone else: A $1.1 million gap to be exact. That is the difference in average profits per partner for the top 23 firms compared to…
I launched Law Firm Transitions a year ago this week. My goal for starting a blog was to join and help drive the conversation about changes law firms need to make to better serve clients. From my perspective, the business model needs to change. So it seems apropos that I chose this week to report on…
I attended Legal Tech West in Los Angeles this week and tweeted for the first time during a CLE session. Shortly after I did, I got a direct message from Kevin O’Keefe of LexBlog, Inc. He was attending the same session as me and suggested we meet. It was a great opportunity for me to…
What do you get when you cross a firm unaccustomed to pursuing business strategically with the internal announcement of a major business development initiative? Answer: Confusion. Many firm leaders coming out of the economic downturn realize that “random acts of marketing” are not going to see them into the future. They are adopting disciplined marketing…
BTI Consulting Group hosted a webinar last week detailing findings from its 2011 Litigation Trends survey. My favorite slide of the presentation was titled “Clients Blind to Law Firm Changes.” The slide depicts a two-bar graph. One bar reflects the percentage of litigators who believe they are delivering more value to clients. The other depicts…
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