Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Editor's Note: The Law Firm Leadership column is this month's lead article.
A couple of months ago, I was watching two recent DVD releases, “Mamma Mia” and a remake of the “The Women.” Both of these movies made me think of how Hollywood has figured out that women are a target demographic where there is money to be made. Has the legal profession figured it out? The answer is still to be determined.
Leadership Defined
There's been a lot of talk about leadership, especially inside the ranks of women who aspire to hold powerful positions within law firms. This article is not aimed at those women. I am not going to address how to achieve a leadership position, for indeed not everyone wants to be chair, managing partner or a practice group leader of a law firm. What I am going to talk about is how leadership outside the confines of one's practice can take center stage in attaining the personal satisfaction that often leads to a successful career. There are roles outside those confines that can showcase a woman's leadership capability. Leadership at this level can translate into business development. From there, if leadership within your firm is what you aspire to achieve, you will be on your way to attaining that career goal.
Hundreds of articles have been written about leadership. One I just finished reading is in the January issue of The Harvard Business Review. It addresses the topic of women as visionaries ' something that the authors of the article believe is an important facet to becoming a leader. The article is detailed in its argument for and against how leadership qualities resonate among women. One should read it to get a more statistics-laden approach to what it takes to be a leader. I have my own thoughts on the subject and being a visionary is among them. After all, imagination inspires and leads to the vision becoming a reality. Leaders can do that!
The Four I's of Leadership
In my opinion, leaders are born, not created. I believe there are four basic qualities that can be identified in people who are born to lead. I call it the “Four I's of Leadership” ' inspiration, individualism, intuition and involvement. Forget everything you have heard about being a good soldier, keeping your head down and just doing “good work.” If that is all you plan on doing with your life, do not continue reading because this article is about succeeding in non-traditional settings and translating those activities into a successful and profitable career.
So here we go. First step ' get involved! For those with small children, it's a no-brainer. There are school and after-school activities, weekend play dates and countless social events. For those with college-age young men and women, there are fundraising activities where one can get involved and get noticed. For singles, the world is your oyster. Pick a charity, pick a cultural institution, pick a political party and then get involved. Use that law degree to become an adviser to the organization. This is your fist step on the road to leadership. Make your voice heard. Getting people to understand your value is a key component in career development. You need to have a “vocal pocket resume” at the ready that basically consists of who you are, what you do and what you can bring to the table within the organization.
Becoming an inspiration to others can be achieved by uncovering that creative bent that may be on hold during the work day. Many women lawyers have told me that they long to use their creative side, but are relegated to using what they learned in law school. That's fine, but extracurricular activities can bring out the hidden creativity and inspire others to work with you. It also can translate into business development More about that later.
Being an individual is important to any success story. Natural-born leaders set themselves apart from the crowd. They have smarts, tenacity, make the best of their God-given talents and always look the part. I have advised many women and lots of men about being true to yourself, staying real and never compromising who you are for the sake of getting ahead. Doing so can lead to career suicide.
Being able to “see the future” can be defined as women's intuition or having good insights. Logic plays a big role in having good intuition and lawyers use logic in every aspect of their practices especially in quantifying outcomes. Intuition and being insightful are key to mentoring the next generation. Mentoring has been written about extensively and if you haven't figured out how to become a mentor or find a mentor, resources abound via organizations like the American Bar Association Commission on Women in the Profession (on which I served for five years as the Commission's marketing liaison), the National Association of Women Lawyers (NAWL) and the New York-based Women in Law Empowerment Forum, where I serve as Co-Chair.
Women-Friendly Firms and Leadership
In thinking about firms that define themselves as “women-friendly” and those that claim to have women's initiatives in place, I look to those firms to see how many of them have created leadership programs, including leadership workshops that include legacy themes and implementation. Women-in-law programs within law firms may include social events and networking which nurture existing clients and give tips on how to get new clients, but are they really empowering women to become leaders if that is a career goal? Do women-in-law programs aspire to be enclaves of women who only think about being part of the environment without going outside the environment to create success stories? Here is where being outside the law firm environment can lead to success inside your firm. Let's pick an extracurricular activity. Pick something you are passionate about ' children's issues, a grassroots political issue, the environment or a philanthropic organization. Join it, work hard, and let your opinion and voice be heard. All of this will lead to valuable connections within the organization and in time will definitely lead to developing business. Be sure the firm knows of your accomplishments and gives you the support to take those outside activities to the next level.
Leadership Roles Outside the Scope of Your Practice
Now what I am about to say may be a bit controversial, but I counsel women to not take on leadership roles within their firm that have “no red meat.” There are only two roles within a law firm that count: the governing body of the firm and the compensation committee. The truth be told ' traditionally, these spots are filled by those within the firm who have books of business. So if that's the case, then there must be a process to develop business. I believe that without question it is a jungle out there and you need to bring to bear all of your resources to prospect for gold. The route to business development is to market yourself utilizing your talents beyond what they teach you in law school. Everyone assumes you are a good lawyer. You should have that “vocal pocket resume” or five-minute elevator speech on your legal background, but remember too that, like those college applications, you need to balance your legal expertise with outside activities about which you are passionate. Prospective clients want to know who you are outside the firm because very often, as I have witnessed, the outside activities can align with those of prospective and existing clients. Nothing resonates better in developing business than demonstrating leadership capabilities that have been developed while working with cultural, political, philanthropic or community service organizations. Yes, there are internal programs like pro bono within every firm, but they are tied to the firm. Pro bono is essential but it is more about the firm's goals than what your passion might be. Follow that passion. Find the activity that is fun and worthwhile. Providing a leadership role within the organization of your choice not only can help you attain a sense of fulfillment in your life, but can in time become your signature. A leadership role becomes part of who you are and will garner respect from your colleagues. Non-traditional leadership roles can also maximize your potential as someone who will be recognized within the legal community. Each year, the ABA Commission on Women in the Profession honors outstanding women with its Margaret Brent Awards. Most of the honorees have not only demonstrated their legal capability but have given back in ways that make them stand out from the crowd. This is the heart and soul of what leadership is really about.
Other Avenues
Other avenues of non-traditional roles that can lead to business development include fund-raising, either at the college or law school alumni level or through your children's schools. Asking for money is difficult and may not be suited for everyone. That being said, all fundraising is really about is making connections and connections are key to leadership. I personally have been involved in all types of fundraising and most of the people I have worked with on various charities are still my friends. I have also never said no to a colleague or friend who has asked me to contribute to a charity that I believe in. My list is limited, but it is important to realize the personal and professional value that comes with being charitable.
Conclusion
In closing, let me borrow a line from the movie “Working Girl” that says: “Who makes it happen ' you make it happen!” So why are you still sitting there. Get busy!
Elizabeth Anne 'Betiayn' Tursi is the Editor-in-Chief of this newsletter and the Principal of Tursi Law Marketing Management. She is an adviser to law firms and public companies in the area of business development. Ms. Tursi is a recognized expert on developing women in law programs and counsels women on attaining their career goals. She is the Co-Chair of the New York-based Women in Law Empowerment Forum (WILEF).
Editor's Note: The Law Firm Leadership column is this month's lead article.
A couple of months ago, I was watching two recent DVD releases, “Mamma Mia” and a remake of the “The Women.” Both of these movies made me think of how Hollywood has figured out that women are a target demographic where there is money to be made. Has the legal profession figured it out? The answer is still to be determined.
Leadership Defined
There's been a lot of talk about leadership, especially inside the ranks of women who aspire to hold powerful positions within law firms. This article is not aimed at those women. I am not going to address how to achieve a leadership position, for indeed not everyone wants to be chair, managing partner or a practice group leader of a law firm. What I am going to talk about is how leadership outside the confines of one's practice can take center stage in attaining the personal satisfaction that often leads to a successful career. There are roles outside those confines that can showcase a woman's leadership capability. Leadership at this level can translate into business development. From there, if leadership within your firm is what you aspire to achieve, you will be on your way to attaining that career goal.
Hundreds of articles have been written about leadership. One I just finished reading is in the January issue of The Harvard Business Review. It addresses the topic of women as visionaries ' something that the authors of the article believe is an important facet to becoming a leader. The article is detailed in its argument for and against how leadership qualities resonate among women. One should read it to get a more statistics-laden approach to what it takes to be a leader. I have my own thoughts on the subject and being a visionary is among them. After all, imagination inspires and leads to the vision becoming a reality. Leaders can do that!
The Four I's of Leadership
In my opinion, leaders are born, not created. I believe there are four basic qualities that can be identified in people who are born to lead. I call it the “Four I's of Leadership” ' inspiration, individualism, intuition and involvement. Forget everything you have heard about being a good soldier, keeping your head down and just doing “good work.” If that is all you plan on doing with your life, do not continue reading because this article is about succeeding in non-traditional settings and translating those activities into a successful and profitable career.
So here we go. First step ' get involved! For those with small children, it's a no-brainer. There are school and after-school activities, weekend play dates and countless social events. For those with college-age young men and women, there are fundraising activities where one can get involved and get noticed. For singles, the world is your oyster. Pick a charity, pick a cultural institution, pick a political party and then get involved. Use that law degree to become an adviser to the organization. This is your fist step on the road to leadership. Make your voice heard. Getting people to understand your value is a key component in career development. You need to have a “vocal pocket resume” at the ready that basically consists of who you are, what you do and what you can bring to the table within the organization.
Becoming an inspiration to others can be achieved by uncovering that creative bent that may be on hold during the work day. Many women lawyers have told me that they long to use their creative side, but are relegated to using what they learned in law school. That's fine, but extracurricular activities can bring out the hidden creativity and inspire others to work with you. It also can translate into business development More about that later.
Being an individual is important to any success story. Natural-born leaders set themselves apart from the crowd. They have smarts, tenacity, make the best of their God-given talents and always look the part. I have advised many women and lots of men about being true to yourself, staying real and never compromising who you are for the sake of getting ahead. Doing so can lead to career suicide.
Being able to “see the future” can be defined as women's intuition or having good insights. Logic plays a big role in having good intuition and lawyers use logic in every aspect of their practices especially in quantifying outcomes. Intuition and being insightful are key to mentoring the next generation. Mentoring has been written about extensively and if you haven't figured out how to become a mentor or find a mentor, resources abound via organizations like the American Bar Association Commission on Women in the Profession (on which I served for five years as the Commission's marketing liaison), the National Association of Women Lawyers (NAWL) and the New York-based Women in Law Empowerment Forum, where I serve as Co-Chair.
Women-Friendly Firms and Leadership
In thinking about firms that define themselves as “women-friendly” and those that claim to have women's initiatives in place, I look to those firms to see how many of them have created leadership programs, including leadership workshops that include legacy themes and implementation. Women-in-law programs within law firms may include social events and networking which nurture existing clients and give tips on how to get new clients, but are they really empowering women to become leaders if that is a career goal? Do women-in-law programs aspire to be enclaves of women who only think about being part of the environment without going outside the environment to create success stories? Here is where being outside the law firm environment can lead to success inside your firm. Let's pick an extracurricular activity. Pick something you are passionate about ' children's issues, a grassroots political issue, the environment or a philanthropic organization. Join it, work hard, and let your opinion and voice be heard. All of this will lead to valuable connections within the organization and in time will definitely lead to developing business. Be sure the firm knows of your accomplishments and gives you the support to take those outside activities to the next level.
Leadership Roles Outside the Scope of Your Practice
Now what I am about to say may be a bit controversial, but I counsel women to not take on leadership roles within their firm that have “no red meat.” There are only two roles within a law firm that count: the governing body of the firm and the compensation committee. The truth be told ' traditionally, these spots are filled by those within the firm who have books of business. So if that's the case, then there must be a process to develop business. I believe that without question it is a jungle out there and you need to bring to bear all of your resources to prospect for gold. The route to business development is to market yourself utilizing your talents beyond what they teach you in law school. Everyone assumes you are a good lawyer. You should have that “vocal pocket resume” or five-minute elevator speech on your legal background, but remember too that, like those college applications, you need to balance your legal expertise with outside activities about which you are passionate. Prospective clients want to know who you are outside the firm because very often, as I have witnessed, the outside activities can align with those of prospective and existing clients. Nothing resonates better in developing business than demonstrating leadership capabilities that have been developed while working with cultural, political, philanthropic or community service organizations. Yes, there are internal programs like pro bono within every firm, but they are tied to the firm. Pro bono is essential but it is more about the firm's goals than what your passion might be. Follow that passion. Find the activity that is fun and worthwhile. Providing a leadership role within the organization of your choice not only can help you attain a sense of fulfillment in your life, but can in time become your signature. A leadership role becomes part of who you are and will garner respect from your colleagues. Non-traditional leadership roles can also maximize your potential as someone who will be recognized within the legal community. Each year, the ABA Commission on Women in the Profession honors outstanding women with its Margaret Brent Awards. Most of the honorees have not only demonstrated their legal capability but have given back in ways that make them stand out from the crowd. This is the heart and soul of what leadership is really about.
Other Avenues
Other avenues of non-traditional roles that can lead to business development include fund-raising, either at the college or law school alumni level or through your children's schools. Asking for money is difficult and may not be suited for everyone. That being said, all fundraising is really about is making connections and connections are key to leadership. I personally have been involved in all types of fundraising and most of the people I have worked with on various charities are still my friends. I have also never said no to a colleague or friend who has asked me to contribute to a charity that I believe in. My list is limited, but it is important to realize the personal and professional value that comes with being charitable.
Conclusion
In closing, let me borrow a line from the movie “Working Girl” that says: “Who makes it happen ' you make it happen!” So why are you still sitting there. Get busy!
Elizabeth Anne 'Betiayn' Tursi is the Editor-in-Chief of this newsletter and the Principal of Tursi Law Marketing Management. She is an adviser to law firms and public companies in the area of business development. Ms. Tursi is a recognized expert on developing women in law programs and counsels women on attaining their career goals. She is the Co-Chair of the New York-based Women in Law Empowerment Forum (WILEF).
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
End of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.
Law firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.
Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.
The paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?
Counsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.