Spring 2012
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| Leadership vs. management: Recognizing the difference | |
 | Although the roles of leaders and managers overlap to a degree, they aren’t the same. True leaders are relatively rare. And as law firms try to adapt to a rapidly changing business model and fierce market competition, they need leaders. This article compares the different tasks leaders and managers must perform, and in particular describes what leaders in small firms must do to implement effective strategic plans. A sidebar explains why some firms might prefer to hire a firm administrator to assume managerial duties. Read More |
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| Is now the time to rethink associate compensation? | |
 | Law firms that still compensate associates the way they always have — using a lockstep model of regular, across-the-board annual pay increases — may be harming profitability and their competitive profile. One alternative is a performance-based system that rewards attainment of specified key competencies. However, if poorly implemented, such a system could squelch associates’ motivation and lead to frustration, resentment and attrition. This article describes three best practices. Read More |
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| Why firms need strong, current partnership agreements | |
 | Any law firm with more than one owner needs a partnership agreement. But to be effective, the agreement should be well written and up-to-date. A sound agreement will address several issues that affect everything from daily operations to unexpected events. This article lists specific items a partnership agreement should cover and discusses why a firm might want to change its partnership structure. Read More |
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| Search engine optimization — Boost your firm’s online profile | |
 | If a law firm’s website can’t be found through major search engines, it might as well not exist. Search engine optimization (SEO) isn’t necessarily difficult and it doesn’t have to cost a lot of money. But frequently updated content, carefully cultivated links and some knowledge about how search engines find and rank sites are important if a firm is to receive optimal online exposure. This article offers tips for keeping a website current and prominent. Read More |
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This publication is distributed with the understanding that the author, publisher and distributor are not rendering legal, accounting or other professional advice or opinions on specific facts or matters, and accordingly assume no liability whatsoever in connection with its use. ©2012 • LFMsp12 | |