Law Firm Profitability

By Colin Cameron | A collection of innovative and practical ideas for increasing law firm profitability www.lawprofitability.com

When Leaders Are Hired for Talent but Fired for Not Fitting In

Over and over again, organizations are unable to appoint the right leaders. According to academic estimates, the baseline for effective corporate leadership is merely 30%, while in politics, approval ratings oscillate between 25% and 40%. In America, 75% of employees report that their direct line …

Leadership

Are Traditional Law Firms Going Extinct?

After seven years at one firm, an attorney realized it was time to move on. The reason: the firm's chief rainmaker was no longer bringing in business …

Thomson Reuters

Tech Savvy Lawyers Share 60 Apps in 60 Minutes

Highlights and faves of apps to help improve your practice, presented at the State Bar of Texas Annual Meeting.

Managed Legal Services in the Cloud

With more attorneys and law firms making the leap to cloud computing services to improve the way they operate as a business, companies like Abacus …

Legal Services

LPM 102: Eight Critical Tools for Legal Project Management

<i>Effective communication is essential to for successful Legal Project Management, says</i> <i>Aileen Leventon</i> <i>in the second of a two-part series; she</i> …

HLS CLP

By John Morley<p><i>This article is derived from a more expansive work currently under submission for publication. The full paper is available on the</i> …

Stat Of The Week: How Much Can A Bad Lateral Hire Cost A Firm?

It's more than you might think, and more than the partner's annual compensation.

Law

Your Email is Slowly (but Surely) Killing your Legal Career

You know this already – you just probably haven’t said it out aloud.<p>“Did you get my email”?<p>“I get too much email – I can’t deal with it all”<p>“I need …

Mindfulness Practice In Law Firms

Last week, I attended the NALP Professional Development Institute in Washington D.C. It was an educational and engaging two days interacting with …

5 Proven Growth Strategies for Professional Services Firms

We’ve all been in those meetings when ideas for stimulating growth get tossed around. Before you know it, an entirely new growth strategy has emerged …

Insiders' Views: How Lawyers Can Benefit from Lean Six Sigma

• shares<p><i>Lean is becoming more and more popular in the legal field, bringing innovative new models to the business of law. A great event, held on</i> …

The hidden dangers of discounting your fees

Today’s post is a short rant about the practice and dangers of discounting your legal fees, followed by a useful collection of 20 questions I found …

Stop Giving Away Free Information & Stop Asking For It

When was the last time you went to Walmart and asked for something for free? When was the last time you went to your doctor’s office and asked for …

Business Growth Strategies for Professional Services Firms

We’ve all been to this strategic planning retreat. There’s the conference room, the flip chart, the SWOT analysis, a spate of brainstorming, and a …

Meet the Lawyers Designing Tomorrow's Practice Models

Consultants like me, who spend a lot of time thinking about and strategizing for the future of law, often get carried away talking in broad-brush …

Management

“Good enough” advice and the billion dollar opportunity mid-tier law firms are wasting

Earlier this month (April 2017) LexisNexis published the latest in its series of legal market reports. Titled ‘Amplifying the voice of the client in …

Dear law student: The future of law is now

The Future Is Now. Not only is that title prophetic, it was also the name of a conference hosted by my organization, the Illinois Supreme Court …

Judiciary

Should Lawyers Offer Discounts To Clients?

Are discounts or free samples the route to more business or a quick road to devaluing your services? Some top law firms are using discounted rates to …

Clients Balking at Attorney Fees? K&L Gates Has an Algorithm for It

Douglas Stanford<p>It won’t work for less predictable practice areas, but real estate lawyers at K&L Gates have an unconventional model for billing: An …

Real Estate

BBC attacks Sir Cliff Richard for 'grossly unreasonable' legal fees

The BBC has attacked Sir Cliff Richard for claiming that he spent "grossly unreasonable" amounts on lawyers after taking legal action over the …

BBC

Creating an Online Publishing Strategy for Law Firms Paperback – June 6, 2017

Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on …

Struggling Retail Chains Shop for Lawyers

Compliance, class action defense and bankruptcy counsel are all in demand by an industry undergoing rapid change.

10 Tips for Getting Quality Clients

I started out solo feeling desperate. I was scared. I needed money for food, shelter, clothing, and the ridiculously expensive car I wanted to buy.<p>My …

More On How Law Firms Kill Innovation

The Adjacent (Im)possible<p>The lack of innovation in law firms, especially large law firms, is bothersome to some and not surprising to others. We have …

Innovation

Lawyers not embracing opportunities from technology, Deloitte report finds

Canadian lawyers talk a big game on innovation and technology. But when push comes to shove, few in-house lawyers at big companies see investing in …

Regulation

Employees Are More Motivated When Companies Are Transparent About Salary

Traditional etiquette dictates that you don’t talk about money in polite company — which, regardless of how you actually feel about your co-workers, …

The Workplace

Blockchain: What Does It Mean for the Legal Profession?

A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a …

Bitcoin

Create and Send an NDA from Zoho CRM

Keeping track of all your customer information can be difficult, but getting data out of your CRM can be an even bigger hassle. Most often you end up …

Lawyers Stress Part 1: Awareness of the Problem

The Spectre of Stress<p>Managing your law firm, or your role in one, is as much about managing your own health and well being as anything else. Every …