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You, Inc.: Why Women Lawyers Need to Build Their Own Brands
'To take control of your legal career, you must become the CEO of your own one-(wo)man firm:”You, Inc.'
As we head into a new year, consider committing yourself to making it different, better, more fulfilling. Sure, the life of a female lawyer is nothing if not an exercise in multi-tasking, constant balancing of multiple priorities, and going the extra mile to be acknowledged and rewarded compared to your male counterparts, but the savvy lawyer understands that her legal career is only as satisfying as she molds it to be.
Even as law firms still struggle to rebound from the most recent recession, there has never been a more pressing time for women lawyers to take control of their careers and build solid books of business of their own.
With all the studies and chatter on gender-wage inequities, the disparate number of female law firm leaders, and the incessant sexual and gender discrimination issues that plague the profession, it is no wonder that female lawyers are packing up and leaving their posts with increased frequency. But, to those who choose to stay, I would say, 'You must understand, deeply, that whether you are a solo practitioner or a member of an AmLaw 100 law firm, if you are in private practice, you are a business owner and must regard yourself as a business owner, regardless of whether you actually have any business of your own.'
To keep your legal career moving forward, you must put on the CEO hat of your own one-(wo)man firm:”You, Inc.” The focus of 'You, Inc.' is to service clients.' No clients equals no business.'Not in practice for very long'
I am often troubled to see that many attorneys practicing in law firms either proactively decide (professional suicide) or decide by default (no action taken) that, as long as firm partners are feeding them work, they're good. These intelligent women (and men as well) are fed the 'don't worry about bringing in new files' line by firm partners, or they are lulled into complacency as a result of the constant feeding at the trough of the few firm rainmakers. Either way, the long-term career prospects are dim unless these folks somehow have an 'aha' moment and realize that increased earning potential and long-term job security is directly linked to developing and growing a healthy book of business of their own.
Unless you have been living under a rock since 2008, during the Great Recession, you have witnessed law firms implode, buckets of attorneys laid off, and folded into other, more healthy firms.' Firms are still shedding attorney jobs though the rainmakers (those who have their own book of business) and 'future' rainmakers remain secure, for now.' No law firm is exempt ' none.
It is vital to understand that, as a result of the economic changes and the dramatic paradigm shift in legal services, there is no longer the age-old lockstep tradition of moving from associate to partner in a pre-determined number of years. There is no guarantee that you will remain with the same firm without experiencing a layoff at least once.'Unfortunately, it is not a given that you will even secure a legal job when you graduate from law school.
The only way to secure your career and your future with a higher degree of certainty is to move from the 'employee' mindset to that of the 'CEO of Me' mindset, and take definitive, strategic steps to build a book.
Sadly, here's the dirty little secret that is often hidden: Law schools and, so frequently, law firms do not teach you or prepare you to make that happen. Sure, firms may say they have healthy mentoring programs and/or training curricula. However, as a practical matter, the intentions may be honorable, but the follow-through is often disappointing.
If it's going to happen, you must be the captain of your own ship and make it happen.' There are many rainmaking books, CLEs and professional trainers/coaches you can look to for support and further enlightenment. Becoming a rainmaker is the only way to have job security ' in a law firm or on your own. '
Remember, rainmakers are not born ' they are made, and you canlearn the skills necessary to be successful in your own right.
So, I ask you, will 'the employee' you or 'the CEO' you show up in 2014, and how will that scenario define your next 'best' year?' Leave a comment, or contact me at [email protected].
'To take control of your legal career, you must become the CEO of your own one-(wo)man firm:”You, Inc.'
As we head into a new year, consider committing yourself to making it different, better, more fulfilling. Sure, the life of a female lawyer is nothing if not an exercise in multi-tasking, constant balancing of multiple priorities, and going the extra mile to be acknowledged and rewarded compared to your male counterparts, but the savvy lawyer understands that her legal career is only as satisfying as she molds it to be.
Even as law firms still struggle to rebound from the most recent recession, there has never been a more pressing time for women lawyers to take control of their careers and build solid books of business of their own.
With all the studies and chatter on gender-wage inequities, the disparate number of female law firm leaders, and the incessant sexual and gender discrimination issues that plague the profession, it is no wonder that female lawyers are packing up and leaving their posts with increased frequency. But, to those who choose to stay, I would say, 'You must understand, deeply, that whether you are a solo practitioner or a member of an AmLaw 100 law firm, if you are in private practice, you are a business owner and must regard yourself as a business owner, regardless of whether you actually have any business of your own.'
To keep your legal career moving forward, you must put on the CEO hat of your own one-(wo)man firm:”You, Inc.” The focus of 'You, Inc.' is to service clients.' No clients equals no business.'Not in practice for very long'
I am often troubled to see that many attorneys practicing in law firms either proactively decide (professional suicide) or decide by default (no action taken) that, as long as firm partners are feeding them work, they're good. These intelligent women (and men as well) are fed the 'don't worry about bringing in new files' line by firm partners, or they are lulled into complacency as a result of the constant feeding at the trough of the few firm rainmakers. Either way, the long-term career prospects are dim unless these folks somehow have an 'aha' moment and realize that increased earning potential and long-term job security is directly linked to developing and growing a healthy book of business of their own.
Unless you have been living under a rock since 2008, during the Great Recession, you have witnessed law firms implode, buckets of attorneys laid off, and folded into other, more healthy firms.' Firms are still shedding attorney jobs though the rainmakers (those who have their own book of business) and 'future' rainmakers remain secure, for now.' No law firm is exempt ' none.
It is vital to understand that, as a result of the economic changes and the dramatic paradigm shift in legal services, there is no longer the age-old lockstep tradition of moving from associate to partner in a pre-determined number of years. There is no guarantee that you will remain with the same firm without experiencing a layoff at least once.'Unfortunately, it is not a given that you will even secure a legal job when you graduate from law school.
The only way to secure your career and your future with a higher degree of certainty is to move from the 'employee' mindset to that of the 'CEO of Me' mindset, and take definitive, strategic steps to build a book.
Sadly, here's the dirty little secret that is often hidden: Law schools and, so frequently, law firms do not teach you or prepare you to make that happen. Sure, firms may say they have healthy mentoring programs and/or training curricula. However, as a practical matter, the intentions may be honorable, but the follow-through is often disappointing.
If it's going to happen, you must be the captain of your own ship and make it happen.' There are many rainmaking books, CLEs and professional trainers/coaches you can look to for support and further enlightenment. Becoming a rainmaker is the only way to have job security ' in a law firm or on your own. '
Remember, rainmakers are not born ' they are made, and you canlearn the skills necessary to be successful in your own right.
So, I ask you, will 'the employee' you or 'the CEO' you show up in 2014, and how will that scenario define your next 'best' year?' Leave a comment, or contact me at [email protected].
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
'Huguenot LLC v. Megalith Capital Group Fund I, L.P.': A Tutorial On Contract Liability for Real Estate Purchasers
In June 2024, the First Department decided Huguenot LLC v. Megalith Capital Group Fund I, L.P., which resolved a question of liability for a group of condominium apartment buyers and in so doing, touched on a wide range of issues about how contracts can obligate purchasers of real property.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.