In this economy, many lawyers are facing an unanticipated fork in the road. Layoffs leave some lawyers contemplating an exit from the profession, others considering whether to launch a solo practice, and others still looking to shift practice areas in hopes of finding a new position.
I recently watched a video of a presentation for the [...]
Legal management consultant Joel Henning concludes that the law firm business model is broken and that the currently-proposed fixes (such as alternative fees, offshoring, increased use of contract attorneys, etc.) are “insipid and inadequate.” For Henning’s proposal, which centers on a regulatory revolution that would permit outside investors who “would bring to bear a more [...]
Law as business vs. law as profession is a conversation that has largely lost its meaning and relevance, especially in today’s economy. Lawyers must understand some of the basic law firm economics from day 1, if not before. I happened across an article that presents these basics along with a handy acronym, RULER:
The latest issue of The Complete Lawyer features the theme “What’s Your Exit Strategy?” and includes articles that discuss exits including retirement, job changes, leaving the law, setting up a plan to ensure that your clients will be protected if you’re suddenly unavailable, and more. Here are a few highlights:
Rob Hockett offers simple advice on retirement [...]
Lawyers who are or aspire to be leaders must learn to self-manage. Especially when stressed or under pressure (and who isn’t, at least part of the time?) it’s easy to let self-management slide in the face of provocation. Some attorneys I know offer a blanket apology to staff and colleagues — something like, “I’m feeling [...]
In my experience, newer associates often have challenges in determining what they do and don’t have the authority to do. Some may take on too little authority, undermining their usefulness to more senior lawyers who need not be consulted about every decision, and others may too on too much, possibly compromising strategic decisions that should be [...]
The economic forecasts seem to agree: we’re in a recession. Unlike past slowdowns, this recession seems poised to affect law firms as much as other businesses — not a pleasant thought for lawyers accustomed to growth and more growth. If you’re among those concerned (and if you aren’t, you probably should be), be sure to visit [...]
A couple of years ago, I was a party to some litigation, and I had the mind-shifting opportunity to be a client. I learned a tremendous amount about what it means to be a client. Because these lessons would have served me very well when I was in practice, I share them with you today.
1. Communication is [...]
I’ve been having some interesting conversations lately with lawyers who demand a career that’s intellectually demanding, satisfying, financially successful, and fun. Fun? Can something as serious as practicing law be fun? These lawyers won’t settle for less. I’ve discovered 5 common attitudes and habits among these lawyers — how many do you share?
But first, a reminder: [...]
Some months ago, Stephanie West Allen requested that fellow bloggers write a “letter to a young lawyer.” Susan Carter Liebel has recently renewed the request and I am delighted to join in, at last.
To the new attorney:
Welcome to the practice! You’ve learned much over the last three years of law school, and you may be [...]
August 28, 2009 
