Law firm succession and exit planning is one of the hottest management challenges facing attorneys whether they are partners in a law firm, a sole owner of a firm comprised of other employed attorneys and staff members or a solo attorney in practice with no other attorneys in the firm.

We are often asked to help law firms design and implement profitability improvement programs. In most of our engagements the real problem is insufficient gross income and lack of sufficient investment (spending and time) on marketing and initiatives designed to stimulate client and revenue growth. For most firms increasing revenues is the most effective way of impacting the bottom line. However, we do find that there is waste and unnecessary overhead that eats away at profits and a cost control program is also recommended and implemented. Here are a few ideas.

Are eat what you kill compensation systems appropriate approaches to compensation? It depends. You must ask yourself what kind of firm you want to be - team-based firm or group of space sharers or partnership of individual firms.

Our flat fee and our discounted six month coaching programs have been developed to provide attorneys with one-on-one coaching to help them get "unstuck" and move forward in reinventing both themselves and their law practices