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How to Disclose the Existence of a Malpractice Law Suit to A Potential Lateral Partner

With the rapid increase in the number of law firms that are considering adding lateral partners, many aspects of the negotiating process between firms and laterals have become routine.  Most notably, almost every large firm sends out a Lateral Partner Questionnaire or LPQ.  The LPQ helps firms assess how attractive a potential lateral partner might […]

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The Benefits of Marketing to Middle-Market Companies

Law firms could learn a thing or two from commercial banks about marketing to middle-market companies.  First and foremost, banks know what the middle market is and have a fairly consistent way of defining it.  Specifically, commercial bankers define the middle market as companies that have annual revenues in a given range.  That range differs […]

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Why Law Firms Can Afford to Hire More Than They Do

Law firm leaders tend to assume that they can’t afford to hire a new lawyer or staff member. In my experience as a consultant to law firms, I’ve learned that you can’t take the phrase “can’t afford” literally. “Can’t afford’ doesn’t mean the same thing as “too expensive.” Here are three recent examples that illustrate […]

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Lawyers: Are You Already Behind Your Networking Targets For 2017?

By now you should have already attended at least three networking events and reached out to at least three people who referred you business last year. If the prior sentence is at all familiar to the language you use inside your own head, I have two words of advice—please stop. Specifically, please stop thinking this […]

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Law Firms Should Study Why Good Clients Leave

Many service-oriented businesses, including law firms, thrive when they have a steady stream of repeat business. Given that it is generally much more expensive and time consuming to attract a new client than to keep an existing one, it is critical to understand what causes a long-term client to leave for a competitor. In my […]

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5 Tips For Reaching Your Goals In The New Year

Too many people fall victim to the fallacy that New Year’s resolutions work. They don’t–and for a very good reason. Many of the most important goals that people want to accomplish require regular attention. Whether you want to lose weight, improve a personal relationship, or grow your book of business, you can’t get there by […]

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What’s the Scariest Issue Confronting Your Law Firm?

A wise and accomplished financial advisor recently told me that her clients will happily talk about most aspects of their financial reality and goals except for one–cash flow. They will share their dreams of retiring in an exotic locale, funding college for their children and grandchildren, but won’t without prompting mention that they have less […]

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Three Marketing Lessons Law Firms Should Learn From the Presidential Election

The content between Hilary Clinton and Donald Trump wasn’t exactly inspiring.  It did, however, demonstrate three truths about communicating a message that is particularly applicable to law firms that want to grow. 1.  A Memorable Brand Goes A Very Long Way:  However you feel about Donald Trump as a candidate or as the incoming President, […]

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Increasing Retention of New Hires at Law Firms

Too many law firm leaders subscribe to a plug-and-play mentality when it comes to hiring. They believe that you can take someone who has certain skills and essentially get them to produce effectively in a short period of time. Firms recognize that the new hire needs to learn about the firm’s time entry, billing, and […]

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The Truth About Compensation For Law Firm Associates

Many law firms mismanage how they compensate associates.  Consider the following real-life examples: A law firm that represents consumers in litigation has to scramble because a key associate gives notice and the firm ends up increasing the associate’s pay by more than 30 percent to keep her. Some associates at a corporate transactional firm are […]