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Most financial misunderstandings can be avoided if firm management were to use some fairly straightforward communication techniques with their general partnership. This article compiles a few considerations for a law firm's head-of-finance.
OLYMPIC DOWNHILL RACING AND CLOSING SKILLS Olympic skiers develop a very specific action plan on where they should be at every juncture, turn, jump and slope in order to produce a winning time. For outside counsel, they too need to create a ploan of attack that clearly differentiates them from their competitors. In their sales and presentations, they must emphasize what makes them unique. For some firms, an heightened level of client knowledge is itself the differentiating…
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Times are hard all over and law firms are all under pressure to boost revenue. You may be tempted to lower your standards for client intake in difficult times. Resist the temptation. About a third of all claims against law firms ' and a much greater percentage of the very largest claims ' result from taking on "unworthy clients."
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e-Commerce entrepreneurs need many skills to succeed. First, they must have the technical chops to build and run a superior site. Next, they must market that site to stand out among the many competitors in a crowded market. They must also know enough about business to do all the above profitably. And since no one person can do all of these things well, nearly all of these entrepreneurs must be able to evaluate and hire people with all these skills. That is, until the day comes to sell the business ' the Holy Grail of the dot-com boom. Then, a whole new set of skills is required.
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Hardly a week passes without receiving information about a new publication or seminar about law office management. However, information is not readily available about what specifically managing partners and members of management committees should do to coalesce their partners, associates and staff into a well-managed and informed organization.
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The diversity of AFA approaches and objectives can divide consumers and providers of legal services, and magnify the law firm-client communication challenges presented by movement away from an entrenched business model.
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What is work? When does the workday begin and end? These seemingly easy questions are not so easy anymore. Here's why.
Features
Successful transitioning of client work from senior to other partners involves numerous components that have to be planned and implemented in an effective and timely manner.
