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The time is now for all businesses, law firms included, to plan for major tax changes that are scheduled to take effect on Jan. 1, 2013.
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Succession planning is critical to the sustainability of law firms, and it should command leadership's full attention.
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The key to building a prosperous practice is to attract new clients and retain the ones you have. This requires lawyers to master some basic sales skills, and closing the sale is a non-negotiable part of the process.
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The best way to balance the interests of the lawyer and client is by developing a budget at the start of an engagement where alternative billing is used.
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Reversing the course of negative change in a fraying partnership is not easy, but it can be done if leaders and their followers are willing to step outside their comfort zones and embrace positive change.
REFERRALS - A Key to Business Development Success When clients are looking to select a lawfirm, they may glance at the website or Google for information. But referrals are the key component of identifying a match to their need. According to the Harvard Business Review, a successful professional services firm will have at least 50% of its new annual business coming from clients and referrals. How does your firm measure up?…
NAME FIRMS ARE NO LONGER DRIVING THE BUS -- The legal world is now more competitve than ever - and will stay this way. The economic downturn has forced corporations, agencies, etc. to tighten their own belts. They are bringing more work in-house, terminating more long-term relationships, and insisting on new pricing strategies. Smart law firms, especially mid-sized groups, have been known to provide excellent skills and client support. This is the time to take…
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A good 401(k) can be a great ally as you prepare for retirement; a lousy plan, on the other hand, could erode your ability to build for a decent and secure retirement. Now is a very good time to make sure your 401(k) plan is up to the challenge.