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LEGAL PARTNERS: LATERAL MOVES

Category: 
Partnerships

by Greg Williams LL.B, Managing Director, One Practice

You’re a legal partner thinking of making a lateral move? Here are some hints to maximise your recruitment marketability, achieve your goals and take you where you want to go.

Direct recruitment approaches by legal partners to firms often result in unsuccessful outcomes.

These may include outright rejection, a breach of confidentiality by a third party, poor preparation and negotiating an unsatisfactory remuneration package.

LEGAL PARTNERS: MANAGING YOUR INTERVIEW

Category: 
Partnerships

by Greg Williams LL.B, Managing Director, One Practice

I have advised many legal Partners about their recruitment and career paths and the importance of having a plan to achieve their individual and practice group goals. These goals range from an aggressive desire to maximise income to a more sedate emphasis on a work / life balance. Career goals for lawyers may be different but the method to get there is basically the same: plan.

LEGAL PARTNERS: LATERAL MOVES

Category: 
Career Development

by Greg Williams LL.B, Managing Director, One Practice

One day Alice came to a fork in the road and saw a Cheshire cat in a tree. "Which road do I take?" she asked. His response was a question: "Where do you want to go?" "I don't know," Alice answered."Then," said the cat, "it doesn't matter." (Lewis Carroll, Alice in Wonderland).

DEVELOPING A LAW FIRM BUSINESS PLAN (Part 1)

Category: 
Management

by Greg Williams, Managing Director, One Practice

Have you ever wondered why many business plans prepared by law firms fail? Conversely, why do some law firms succeed? In my experience it all comes down to leadership.

This article is Part 1 of a two part article about business planning for law firms. The second article will set out the structure, methodology and forms you will require to complete your plan.

MANAGING YOUR CAREER

Category: 
Career Development

by Greg Williams, Managing Director, One Practice

As a professional, part of your future success will depend on how you plan and execute your career development.

Whilst the future is unpredictable, your chances of a successful career are significantly enhanced by having your own plans. Planning may include future remuneration, a more senior position, additional education, improved profile and employment with a prestigious firm.

GETTING PAID: START WITH FILE OPENING

Category: 
Management

by Dr Peter Lynch, dci lyncon

Many firms bemoan the difficulties with slow, combative, and nonpayers. And so they should, when it typically takes around
$150,000 of additional billing to replace one $50,000 write-off.
However, the fact is that most payment problems are self-inflicted.

AN EFFECTIVE PARTNERSHIP AGREEMENT

Category: 
Partnerships

by Graeme McFadyen, CEO, Trilby Misso Lawyers & Dr Peter Lynch dci lyncon

That partnership agreements are important is now largely undisputed. Certainly, in our experience, this has translated into the vast majority of new firms having written agreements. However, while relatively standard templates combined with the default provisions of the Partnership Act 1891 as amended provide a general legal safety net, there is no guarantee that they will properly capture the idiosyncrasies and intentions of each individual arrangement.

LEGAL PRACTICE KEY PERFORMANCE INDICATORS

Category: 
Management

by Graeme McFadyen, CEO, Trilby Misso Lawyers

In my seminars I advise firms to participate periodically in legal benchmark surveys to assess how they are performing compared to other participating practices.

EFFECTIVE FILE MANAGEMENT POLICIES

Category: 
Management

by Graeme McFadyen, CEO, Trilby Misso Lawyers

Improving leverage, that is the ratio of fee earners to principals, probably represents the best opportunity for most firms to improve profitability after chargeable hours.

SIMPLY THE BEST

Category: 
Management

by Graeme McFadyen, CEO, Trilby Misso Lawyers

“Simply the Best” is the title of a report based on an extensive study of Australian workplaces undertaken in 2001.