Law Firm Management

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RE-ENTRY PRESENTS AN UNPRECEDENTED OPPORTUNITY FOR LAW FIRMS TO ADVANCE

This is my seventh post about law firms in the Coronavirus Crisis.

“Re-entering” from the crisis offers law firms an unprecedented opportunity to improve themselves.  Law firm leaders should take it seriously.

The opportunity derives from several elements.  

          A Chance for a Reset

First, re-entry creates a genuine moment for a reset.  This will not be just another Monday morning.  Firms will be moving from several months of doing everything differently.  They now must actively, literally decide how to do things going forward.

          New Normal Is in the Air

Second, “new normal” is in the air.  It would be an overstatement to say that everyone is expecting a new normal, but nearly everyone is wondering if firms will learn from recent events, and, I think, hoping they will.  

          Pre-Existing Imperative for Change

Third, law firms recognized an imperative for change before the crisis.  They knew their processes and models were behind the times, but the cost and inconvenience of change outweighed the benefits.  This imperative is only greater as we appraoch re-entry.
Continue Reading Three Building Blocks to Make Law Firm Re-Entry the Most it Can Be

Thoroughly Examining Lessons from the Coronavirus Crisis Operating Model

This is my fifth post about law firms in the Coronavirus Crisis.

In an earlier post, I suggested law firms pursue three ideas to navigate this crisis: Lead, Manage, and Learn.  This week I address the third idea.

There is a lot to learn

Two months into the crisis, most law firm leaders are well into the process of anticipating what the future holds, and getting ready for it.  Of course, no one actually knows what lies ahead, but we have increasing clues, and a growing understanding that the future will be different: a “new normal.” 

I have spoken directly to a large number of law firm leaders in the last few weeks about the impact of the crisis on their firms, and how they are managing and leading through it.  I am encouraged by how thoughtful they are being about the entire range of issues, including, specifically, the health and well-being of their people.  

Most law firm leaders are confident that demand will eventually return to robust levels. I think they are right.  The challenge will be staking out a strategy to continue to win at least as great a share of that demand as the firm did before the crisis.

Most law firm leaders also realize that the new normal will be even more competitive than before.  As they rebound from the financial impact of the crisis, clients will be more exacting in their standards, expecting greater value for each dollar they spend on legal services.  And the competitors, including ALSP’s and in-house solutions, as well as other law firms, will provide clients worthy alternatives to consider.   

I believe the most important change in the new normal will be in the way the law firms will operate and do their work. 
Continue Reading A Time to Learn: Three Questions Law Firms Should Ask to Prepare for the “New Normal”

AN OPPORTUNITY TO ENHANCE RELATIONSHIPS, INITIATIVES, AND HUMAN CONNECTION

This is my fourth post on law firms and the Coronavirus Crisis.  This week I’ll examine how firms can make themselves stronger in the long term, by actions they take during the crisis.

This post was inspired by a question Bob Ambrogi asked me on his show, Law Insights,  earlier this month: “Do you think there are any silver linings in this crisis,” he asked.  I answered yes and offered a couple of brief examples.  

I think the crisis actually creates a number of significant opportunities to advance firm interests, including to: 

  • Strengthen vital relationships
  • Activate institutional resources
  • Address projects that need attention 
  • Achieve a shared sense of accomplishment

Strengthening Vital Relationships

Law firms have a number of vital relationships, including, specifically, with their people, their clients, their suppliers, and their communities.  In each case there is a mutuality of interest and dependence. The healthier and stronger those relationships are, the healthier and stronger the firm is.

In a time like this, the way people interact with each other matters.  Nearly everyone is under stress, and uncertain about the future. They notice who seems sincerely to care about them, and who does not.
Continue Reading Potential Silver Linings: Making Firms Stronger for the Long Term By Actions During the Crisis

UNPRECEDENTED CHALLENGES REQUIRE IMAGINATIVE AND THOUGHTFUL APPROACHES

This is my third post about law firms in the Coronavirus Crisis.  Last week I addressed leadership. Today I turn to management.

Managing during this crisis will be challenging and mission critical. It will require leaders to draw on their experience and imaginations to adapt pre-existing strategic and operational plans to guide radically changed circumstances.  The firm still intends to go where it was going, but it needs to deal with a new set of challenges on its way.

Today, I want to share some thoughts about two of those challenges. 

Managing a Remote Workforce

Starting in mid-March, all law firms suddenly found themselves with a totally remote workforce.  An unprecedented management challenge.
Continue Reading Managing a Totally Remote Workforce and Budget Pressures in the Coronavirus Crisis