Creating Better Law Firm Leaders: What Law Firms Can Learn from Google

Posted on March 14, 2011 by kowalskiandassociates

What is the measure of a good law firm managing partner, or for that matter what is the measure of a good practice leader, an office leader or, indeed, the lead lawyer on an important case or transaction? Google embarked on a year-long study mining millions of pieces of data and set forth the qualities of good leadership skills. There is much the profession can gain in reading these principles and being guided by them.

Filed under: Alternative Business Structires for Law Firms, Lateral law firm partner, Lateral Partner, Law firm associate efficiency, Law firm management, Law firm management strategies, law firm project management, Legal Education, Legal Project management, Navigating the Perfect Storm: Recruiting, Retaining and Training Lawyers in the Coming Decade, The Law Firm of the Twenty-first Century, Value Billing | Tagged: , , , , , , | 2 Comments »

Will Retiring Baby Boomers Burst Big Law’s Balloon?

Posted on February 9, 2011 by kowalskiandassociates

There are 76,000,000 baby boomers in the United States. Many of these baby boomers are at law firms which impose mandatory retirement policies. Many large law firms are looking ahead to having about 15% of their partners retire over the next several years. The consequences to law firms can be catastrophic.

Law firms face two challenges, one manageable, the other perhaps not. The first, transitioning client relationships is a process that may — and I emphasize may — work. The issue is the willingness of a vibrant 65 year old lawyer who enjoys his or her work may simply plan on transitioning himself or herself and his or her clients to another law firm that does not have a mandatory policy.

The more critical issue is that upon retirement or even withdrawal of baby boomer generation partners, they will receive repayment of their capital accounts. And since these partners are the most senior in the firm and most often, the most highly compensated, the percentage of capital they have invested in the law firm exceeds the 15% of population this generation represents. With law firms access to capital now being extremely restricted, sucking out all of this cash in the form of capital account withdrawals will probably bankrupt some firms – and leave these retirees without their capital.

This ticking bomb is upon us

Filed under: Lateral law firm partner, Lateral law firm partner movement, Lateral Partner, Law firm management, Law firm management strategies, Law firm partner layoffs, Navigating the Perfect Storm: Recruiting, Retaining and Training Lawyers in the Coming Decade | Tagged: | 2 Comments »

Active Marketing of Legal Services is More Critical Than Ever; Each Lawyer Needs to Have a Business Development Plan and Relentlously Pursue it.

Posted on November 16, 2010 by kowalskiandassociates

Marketing of legal services is more critical than ever. Developing and implementing a business plan must be an integral part of each lawyer’s daily activities. If the clients aren’t calling you, you need to be calling them.

Filed under: Internet based marketing, Law firm blogging, Law Firm Internet Based Marketing, Law firm management, Law firm management strategies, Law firm marketing, Marketing the Law Firm on the Internet, Strategic law firm planning | Tagged: , , , , | 1 Comment »

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