What Lawyers Can Learn From Dentists Attorneys have historically let the client lead the payment dance. Lawyers do the work and hope/expect to be paid without waiting too long or discounting the invoice too steeply. Yet, here we are at the beginning of another year with many law firms still waiting anxiously for overdue checks to arrive. Shame on us for letting this happen. What can we do differently?
When the Tax Cut and Jobs Act became law in December of 2017 there was a question whether some of the highest salaried employees at non-profit organizations would be exempt from the $1M remuneration tax. In the majority of states, the highest salaried employees are athletic coaches.
The Big 4 accounting firms have identified legal services as an area for growth beyond traditional financial services and consulting services.
"You have to spend money to make money." Or, so holds the well-worn cliché. For those firms struggling to find meaningful growth in today's market, where do they find the funds they need to spend in order to spur growth?
Finally, it has happened. You have reached the stage in your career that others want to hear from you and learn what you know in your area of expertise. You have been invited to speak at a conference. What now?
While we can't always create the need; we can work to identfy a need. Clients buy because they have a need or want, and successful salespeople do their homework to uncover this intelligence.
The Manner in Which Law Firm Leaders Measure Profitability Has the Potential to Have a Profound Impact on Behavior and Motivation, Particularly As More Firms Integrate This Metric Into Their Compensation Systems The manner in which law firm leaders measure profitability has the potential to have a profound impact on behavior and motivation.
In the past year, the devastation caused by natural disasters has been immense. Law firms, like every other business, are left to deal with the aftermath of these catastrophic events. Firms that have established business continuity plans to put into effect when these instances occur will find themselves a step ahead in the disaster recovery process. And the ones leveraging cloud technology are at an even greater advantage.
If you have not already encouraged your partners to advise their clients of the need to develop a crisis communication plan in advance, and provided some guidance on best practices, do so immediately. As a complement to a well-developed plan, here are two mnemonic approaches to managing communications in a crisis: the three Rs and the three Fs.
Law Firms Partner With the Big Four to Serve Their Clients, But the Accountants Pose an Existential Threat. What Will Happen If — or When — They Turn Competitive?
For law firm leaders, rank-and-file partners and everyone else in the law firm ecosystem, the Big Four shouldn't be a laughing matter. They are serious about selling legal services, and clients are listening.
![Competitive Intelligence: The Wolf of Law Firms — Sell Me This [Insert Legal Service Here] Image](https://images.law.com/cdn-cgi/image/format=auto,fit=contain/https://images.law.com/contrib/content/uploads/sites/382/2018/12/wolf_wall_st.jpg "Competitive Intelligence: The Wolf of Law Firms — Sell Me This [Insert Legal Service Here]")
