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How to Talk to Your Law Firm Partners About Succession Planning
/0 Comments/in Law Firm Succession Planning /by Gideon GrunfeldThis decade will see an unprecedented increase in the inter-generational transfer of law firm ownership. This a demographic reality that is directly tied to the aging population of law firm owners and equity partners. Many firms perceive the need for succession planning but don’t know how to begin an internal conversation about it within the partnership. […]
The Biggest Change to the Legal Profession Lawyers Might Be Missing
/2 Comments/in Regulatory, Technology /by Gideon GrunfeldThe makeup of a task force assembled last year by the State Bar of California is a cause for concern for many of the bar’s members. Created to address potential regulatory changes that could improve the accessibility of legal services, the group includes a number of tech industry insiders who stand to benefit financially from […]
New ABA Ethics Opinion Further Strengthens Rainmakers
/1 Comment/in Law Firm Management /by Gideon GrunfeldA new opinion from the ABA’s Standing Committee on Ethics and Professional Responsibility outlines recommended behaviors for firms and attorneys when lawyers decide to move on from their firms. Published December fourth, the piece emphasizes the power of the client and encourages all parties to cooperate to serve the client’s best interests. “Clients are not […]
The Most Common Mistake Made By Managing Partners
/0 Comments/in Law Firm Management /by Gideon GrunfeldFor most of their careers, lawyers are encouraged to bill more hours, and they’re rewarded financially and otherwise for doing so. But as a managing partner, billing so many hours likely means not spending enough time overseeing your practice. While this can be a confusing shift, the managerial duties neglected in pursuit of hourly fees […]
What Not to Do When You’re Not Busy Enough
/0 Comments/in Law Firm Marketing /by Gideon GrunfeldWhen lawyers and other professionals are used to being busy, it can be especially challenging when they hit a slow patch. Two sub-optimal responses tend to repeat themselves. 1. Overcompensating You know the feeling. You haven’t worked out for weeks or months. You feel bad about it so you tell yourself that you will get […]
What’s Surprising About Millennials in Large Law Firms
/0 Comments/in Law Firm Management /by Gideon GrunfeldA recent survey conducted by Major, Lindsey, and Africa and the American Lawyer explores attitudes of millennials at large law firms. The unspoken premise of such surveys seems to be that generations of workers are different enough such that we need to really know what makes them tick. I’m old enough to remember when my cohort, Generation […]
Five Common Misconceptions About Selling Your Law Practice
/0 Comments/in Law Firm Succession Planning /by Gideon GrunfeldIf you are thinking of walking away from your practice and want to get paid for it, you are not alone. More lawyers are looking to sell their practices. This is especially true in consumer-facing areas such as family law, immigration, and estate planning. Too many lawyers harbor misconceptions that hinder their ability to take […]
Five Mistakes to Avoid When Sending Your Law Firm’s First Bill to a New Client
/0 Comments/in Law Firm Management /by Gideon GrunfeldThe first invoice a law firm sends to a new client sets the tone for the attorney-client relationship. When handled strategically, the first bill sets the stage for a long and lucrative relationship. But too many law firms are tone deaf to the nuances of client communications with a new client. Here are five common […]
Evaluating Your First 50 Days of 2018
/0 Comments/in Law Firm Management /by Gideon GrunfeldFebruary 19th is the 50th day of 2018. It’s an auspicious time to take stock of how your firm has started the new year. Many of you may be thinking that it’s too early to know how the year is going. I hear that sentiment a lot in my role as a coach and consultant […]
Law Firm Hiring: When Less Information Would Lead to Better Results
/0 Comments/in Law Firm Hiring /by Gideon GrunfeldWhen it comes to hiring mid-level associates, less is more. The typical law firm scrutinizes a wide range of factors when evaluating potential hires, including the law school from which they graduated, how many years ago they graduated, where they currently work, did they have a clerkship, how many job changes have they made, and […]