The June 2023 issue of LJN Accounting and Financial Planning for Law Firms came out a couple weeks ago, and if you haven't had a chance to read it yet, here is the lineup.
For legal stakeholders seeking to take their existing legal operations programs to the next level or start new programs from scratch, there are a few all-too-easy traps that can stunt growth, cost political capital and cause headaches. Having a strategic plan, budget and critical executive buy-in is not enough to avoid these four common issues.
In an era where the power dynamics in the legal industry are shifting decidedly to talent, a firm's ability to tap into generational differences to invigorate, attract and retain talent is a competitive advantage.
We can expect that soon some enlightened Big Law firms will level with their incoming associates (or at least the corporate ones) and explain that market conditions are such that the firm cannot assure them of the volume of work necessary for their normal growth and development and, accordingly, the firm is offering a stipend (and health insurance) to those who choose to defer for a year.
Strong inventory levels at the end of 2022 helped the law firm industry post moderate average revenue growth during the first quarter of 2023, though the demand environment remains challenging for law firms.
Your clients are what they are, clients. The idea that they can be turned into bigger clients by you developing them is a myth. If you need to develop yourself to make your clients bigger — such that they send you more of their business more often — how do you go about it?
Download the Jun 2023 Issue Now
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