How to Save Your Law Firm If It is in Trouble | BCGSearch.com

Need Help? Call 800-298-6440

How to Save Your Law Firm If It is in Trouble

Day One
It’s Friday afternoon, and you are the new Managing Partner of an old-line law firm in a significant legal market. Your firm has suffered three years of stagnating revenues and partner incomes, and has shrunk modestly in size, despite what has been for most firms a very profitable few years. You look around, and you realize that at 5:00, there are a number of dark offices—far more than can be accounted for by the shrinkage you’ve experienced. Your gut tells you the firm has lost its direction, and you are concerned about bringing the revenues back up to historical levels. For some reason, you’ve had a series of strikeouts with the various lateral candidates you’ve pursued. Cash flow has not been good, and you just heard from the controller that it is clear the firm will be off budget this year . . .
Related Articles

Why Attorneys with 5+ Years of Law Firm Experience Are in Serious Trouble (and Seven Steps They Need to Take to Save Their Legal Careers)

These seven choices are fundamental to attorneys and their careers. Each of them is evaluated in-depth in this article to ensure your career success....


The Return of a ''Buyers' Market: Suggestions to Law Firm Recruiting Coordinators for How to Best Navigate the Changing Legal Market in 2011''

Although, for some, it seems a long way off, most of us recall the booming legal market in late 2007/early 2008 as a time when associates and partners could move from firm to firm with relative ease, ...


How to Position Your Law Firm's Value More Effectively in the Legal Market

Summary: The achievement of value convergence will greatly benefit your law firm. Learn the steps you need to take to achieve value convergence in your firm....


Law Firm Economics and Your Career

The notion that a partner or associate must produce 2,000 or 2,400 hours of billable work yearly virtually assures that some clients will be overbilled....


How Law Firms Can Survive a Tough Economic Legal Market

How can you know if your firm is at serious risk? And, what can you do to avoid trouble on the horizon? The following are some important short- to mid-term warning signs:...


Top 10 Ways Attorneys Can Move to a Better Law Firm and Get a Better Attorney Job

If I was to call any attorney in Los Angeles practicing at a "lesser firm" and tell them Gibson, Dunn & Crutcher was interested in interviewing them, most of these attorneys, regardless of their frien...


10 Biggest Career Mistakes Big Law Firm Attorneys Make (and 10 Ways to Survive in a Big Firm)

Summary: Avoid these common mistakes made by many attorneys and you can stay in big law. Getting and keeping a job with a large law firm is extremely competitive. For the majority of attorneys, ent...


What Law Firm Titles Mean: Of Counsel, Non-Equity Partner, Equity Partner Explained

One of the questions that many law students—and even attorneys have—is the pecking order of people working inside of law firms. For example:...


How to Hire a Legal Recruiter for Your Law Firm: How Law Firms Recruit Attorneys Using Legal Recruiters

This article discusses many of the questions most often raised by law firms about their search firm relationships. There are very few "right" or "absolute" answers to questions about search firm relat...


The Importance of Law Firm Economics to Your Legal Career

One of the most important aspects of your legal career-and almost among the most mysterious to young attorneys and others working both inside and outside of law firms-is law firm economics....


 

  
[Top]


Click here to read about the benefits of being part of the BCG Attorney Search Family


Search Jobs

Locations:

Minimum Years of Experience:

Primary Area of Practice:

Firm Type:

Keyword:

 Partner Level Job(s):

Search Now