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Tag Archives: law firm strategy

YouTube Friday: Myths of Law Firm Compensation Plans

Myths of Law Firm Compensation Plans

If you’re compensation plan isn’t aligned with the law firm strategy, then a compensation plan is the firm strategy. That’s according to Tim Corcoran in this interview with Lee Pacchia on Mimesis Law.  Mr. Corcoran noted while he didn’t coin that witty phrase – it’s a great way to explain what he means by “strategy aligned compensation plans.” It’s a ... Read More »

3 Law Firm Surveys Suggest Confidence at Year End

law firm confidence

It’s simply remarkable just how much data is circulating in the legal industry about the state of things.  Last week we examined five law department surveys in the hunt for insights as we turn the corner into 2015. These studies all stemmed from the perspective of the corporate legal department, so this week we thought we’d review several reports predicated ... Read More »

5 Takeaways from a Large Law Reinvention Strategy

5 Takeaways from a Large Law Reinvention Strategy

In late August, Washington Post reporter Catherine Ho wrote a compelling reinvention story on Dickstein Shapiro.  The article sets the stage with series of challenges the firm has faced – from financial performance to the loss of lateral hires to other firms – and then spends the rest of its words describing what the firm is doing about it. By ... Read More »

YouTube Friday:  Building a Law Business for Desirable Clients

Building a Law Practice around Desirable Clients

Keep the profitable customers – dropped the customers that aren’t.  That was a core theme of Patricia Seybold’s 2001 book titled The Customer Revolution. Following this week’s posts on Porter’s Five Forces and the Future of Law, it seemed fitting to search for a Friday Share that matched this week’s trend. Digging through the archives on YouTube, we found one ... Read More »

Porter’s Five Forces for the Legal Industry

Porter’s Five Forces for the Legal Pro

Michael E. Porter, the renowned economist and academic published a framework for analyzing markets in the Harvard Business Review in 1979.  Students of business get a good dose of the framework as a means to analyze competition in a given market — in order to drive the development of a business strategy. The framework now known as Porter’s Five Forces, ... Read More »

Law Firm Client Satisfaction: Words don’t always Match Action

Law Firm Client Satisfaction Words don’t Equal Action

“Client satisfaction is the enemy of superior service,” according to a BTI Consulting webinar titled World-Class Client Feedback 2014 Webinar. The word “satisfaction” stems from Latin roots which literally means “to do enough,” according to Michael Rynowecer, the consulting firms’ founder and president who co-presented with Jennifer Petrone Dezs, a principal. The point is that “doing enough” for clients may ... Read More »

Provoking Disruptive Thinking at #LTNY

Provoking Disruptive Thinking at LTNY

Likeminded people tend to network or hang out with likeminded people – it’s a phenomenon that may hinder innovation in any industry, let alone legal. This was an underlying theme to Professor Luke Williams’ Legal Tech 2014 session: “Disrupt” for Lawyers – Think the Unthinkable to Spark Transformation in the Legal Industry on Tuesday. Mr. Williams offered five steps to ... Read More »