Business Models

How the Mighty Fall: Part I

Jim Collins has authored or co-authored six books that have sold over 10-million copies altogether. Good to Great may be the most famous (published in 2001, still the #1 best seller on Amazon in “Strategic Business Planning”), but Built to Last is also right up there (2004). They’re both celebrations of extremely successful companies, and
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Articles, Business Models, Cultural Considerations, Finance, Leadership, Strategy

Whither the Big 4?

Late this past week my partner Janet and I had the opportunity to participate in a panel at the 23rd annual Thomson Reuters Marketing Partner Forum (held this year in Orlando) on the “rise of the Big 4″—and, we took it to mean, all other species of non-law firm legal service providers. Here’s how the
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Articles, Business Models, Finance, Strategy

Don’t Go Public! (?)

It has become a commonplace—I have bowed to convention and endorsed the notion myself—to observe that law firms are labor-, not capital-, intensive, and that (here’s the dangerous and subtle segue) therefore there would be no benefit to them in taking on outside investors, much less going public. This is often combined, at least by
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Articles, Business Models, Finance, Leadership, Partnership Structures, Strategy

“Collegial & Collaborative?” Guess Again

A few months ago we invited you all to take a survey addressing how truly “collegial and collaborative” your firm is, and how well prepared you felt (a) to be able to knowledgeably point clients towards cross-serving opportunities and (b) to be rewarded internally for doing so. We probed your thoughts on these issues in
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Articles, Business Models, Client Relationships, Compensation, Cultural Considerations, Leadership

Video: Market Segmentation

Recently I had a chance to sit down with Ralph Baxter here in New York for an interview that was just released under the auspices of Thomson Reuters’ Legal Executive Institute. I invite you to take a look and of course to comment.  

Articles, Business Models, Client Relationships, Finance, Leadership, Strategy

Letter from the Pacific Northwest

This fall we had the opportunity to spend a fair amount of time in the Pacific Northwest—multiple trips to Seattle and Portland—and became better acquainted with the dynamics of that particular local/regional legal market. No mention of those two cities would be complete without citing their fascination with all things (a) artisanal; (b) coffee-related; and
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Articles, Business Models, Cultural Considerations, Globalization, Leadership, M&A, Strategy

Letter from London: Part II

This is the second in a two-part series recapping some of our thoughts, analyses, and impressions gleaned during our time in London late last month.  The first installment, where we discussed Business Models and Compensation, is here. Today’s topics are Efficiency and innovation, and the Challenge of geography (as in running a multi-jurisdiction, potentially multi-continental,
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Articles, Business Models, Cultural Considerations, Globalization, Leadership, Strategy, Technology strategy

Profit and Delusion

The following is reproduced from LegalBusiness with the kind permission of the author, Tony Griffiths, who heads the London office of K&L Gates. Many centuries ago while studying law as an undergraduate, a particularly inspiring corporate law lecturer suggested that I might want to read a book on management theory, as well as immersing myself in
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Articles, Business Models, Client Relationships, Finance, Strategy

Different Price Points/One Brand?

I’ve previously mentioned the Business Leadership Summit being organized by The Lawyer, taking place in London September 22—23. (More information here; registration here.) On the afternoon of Wednesday 23 September I will be moderating a panel (3:30 pm – 4:30 pm) on “The Law Firm of Tomorrow,” which will include Charles Martin, Senior Partner, Macfarlanes; Darryl Cooke, Managing Partner,
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Articles, Branding, Business Models, Client Relationships, Cultural Considerations, Finance, Leadership, Marketing, Strategy

A Client Value Guarantee?

Today I want to discuss what, I imagine, many readers will thing is a hare-brained idea; and then I want to explain why, if you adopted this idea, your own behavior would change such that it might not end up being hare-brained in the least. Both dimensions of this discussion, I believe, have value, although
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Articles, Business Models, Client Relationships, Finance, Marketing, Practice Group Management