ANNOUNCEMENTS
Webinar - The Essentials of a Business Development Coaching Program
On December 6, 2011, Peter A. Johnson and Paul E. Clifford of Law Practice Consultants, LLC together with Heather McCullough, Director of Marketing, Nexsen Pruet and Carolyn Meade, Partner, Moore &Van Allen conducted a Webinar on The Essentials of a Business Development Coaching Program. In today’s ultra-competitive legal marketplace, business development skills are a pre-requisite for individual lawyer and firm success. While law firms are placing increased pressure on attorneys to originate business, most do not devote adequate resources to attorney business development training and coaching. Firms which have invested in coaching programs have found that participants report increased business development activities, enhanced skill sets, an increased awareness of how clients "buy" legal services, and more comfort in "asking" for business or referrals.
Click on the link below to learn about:
- The value of a firm coaching program
- How to get a program started
- Who should participate/how should they be selected
- The role of management/PGLs/marketing personnel
- Coaching by firm personnel/outside consultants
- Selection criteria
- The components of the coaching program/how to design an effective program
- How to measure success
- Transition and follow up
http://marketingresources.s3.amazonaws.com/LMASE_Webinar_12_5_0.mov
Law Practice Consultants and TheRemsenGroup presented the inaugural Managing Partner Forum for Northeastern Law Firms on November 4, 2010 attended by more than 35 law firm leaders and Managing Partners in Boston.
http://www.managingpartnerforum.org/index.cfm/conferences/overview/
http://www.jdjournal.com/2010/08/25/managing-partner-forum-slated-for-the-harvard-club/
Peter A. Johnson and Paul E. Clifford conducted a series of business development training sessions for the lawyers at Looney & Grossman LLP.
Marketing Newsletter.pdf
The Importance of Practice Group Management and PGLs
Peter A. Johnson served as a panelist at the Practice Group Management Workshop conducted by the Attorneys’ Liability Assurance Society, Inc. (ALAS), for ALAS member firms on September 23, 2010, at the Boston office of Ropes & Gray LLP.
ALAS PGL Workshop.pdf
Peter A. Johnson presented on "Picking Your Clients' Brains: Client Audits & Interviews" at The Association of Legal Administrators' Annual Conference & Exposition in Boston - May 5, 2010
http://www.alanet.org/conf/2010
Peter A. Johnson and Paul E. Clifford served as faculty on the topic "Your Role as Managing Partner and Getting Paid for it" at the Managing Partner Forum in Atlanta on April 29, 2010 attended by 65 Managing Partners from 23 states.
http://www.managingpartnerforum.org
On September 24, 2009, the Office of Career Services of William & Mary Law School sponsored a panel presentation featuring the principals of Law Practice Consultants advising on pursuing a legal career in light of the recent economic downturn. From left to right: Peter Johnson, Paul Clifford, and James Sweet.
http://lawpracticeconsultants.com/sites/default/files/article-pdfs/William-and-Mary.pdf
ARTICLES
The Anatomy of a Successful Business Development Program
12 Steps to a Successful Client Interview Program
Why Clients Choose Law Firms and Why Lawyers Lose Clients
Business Development Requires Management—Not Just Training
Advice From Those Who've Been There Done That
The Top 10 Things You Should Know About a Client or Prospective Client
Success is Sweet
A New Approach to Managing Lawyers
Growth Management
Ask the Authorities
IN THE PRESS
Paul E. Clifford quoted on Boston law firms 2011 economic results in Boston Business Journal
February 10, 2012
“Profits per partner grow modestly at local firms” February 10 Boston Business Journal article, quoted Paul E. Clifford on the 2011 economic results at Boston area law firms.
From the article:
“I’d characterize 2011 as a mixed year,” said Paul Clifford, a principal at Law Practice Consultants LLC in Boston. ‘Some firms have had solid years and some are just treading water because there hasn’t been a surge in demand. It depends on the practice mix.’”
Peter A. Johnson featured in "Ask the Authorities" in August 2011 issue of "The Journal of Legal Marketing"
Ask the Authorities.pdf
Peter A. Johnson featured in February and March 2011 issues of Law Journal Newsletters on business development training and coaching programs
The Anatomy of a Successful Business Development Program
Paul E. Clifford quoted on economic pressures in the legal industry in Boston Business Journal
February 11, 2011
“Burnout among lawyers at fever pitch” February 11 Boston Business Journal article, quoted Paul E. Clifford on changes in the legal industry leading to higher stress levels among lawyers.
From the article:
“Indeed, Paul Clifford, a principal at Law Practice Consultants LLC in Boston, says the report’s findings are quite accurate and that most big-firm lawyers across the country are grappling with this new reality.
‘Law firms nationwide are under tremendous pressure to figure out ways to deliver value to the client,’ said Clifford.”
Paul E. Clifford quoted on Jones Day’s work-intensive task of building a Boston office from the ground up in Boston Business Journal
December 10, 2010
“Jones Day attorney building from ground up” December 10 Boston Business Journal article, quoted Paul E. Clifford on the work-intensive task of Jones Day’s building a Boston office from the ground up — and in an already crowded legal market.
From the article:
“’Jones Day’s client ties to Boston will go a long way in helping the firm establish a significant presence in Boston,” said Paul Clifford, a principal at Law Practice Consultants LLC.
“’They have significant contacts here in Boston,” said Clifford. “Boston is no longer a parochial town, but it’s still the kind of place that, without roots, it’s tough to swoop in and have an impact.”’
Peter A. Johnson quoted on law firm mergers in Boston Business Journal
November 19, 2010
“Mergers ahead” November 19 Boston Business Journal article, quoted Peter A. Johnson on the potential rebound of law firm mergers.
From the article:
“’Ultimately, it is the client that drives all this activity,' said Peter A. Johnson, a principal of Law Practice Consultants LLC in Newton. ‘It’s the client’s lens and view that matters in the end.’”
“’We’ve seen it pick up in terms of interest, though maybe not results, yet,’ Johnson said. ‘There are a number of smaller niche firms that are looking to combine to be able to provide diversified platforms to their clients.’”
“’Firms that have been more severely exposed to the economic decline, such as those focused on real estate or development, may seek strategic partners to help smooth out future ups and downs,’ Johnson added.”
Peter A. Johnson quoted on lateral partner moves in Boston Business Journal
July 30, 2010
“Once almost unheard of, partner moves from law firm to law firm are on the rise” May 21 Boston Business Journal article, quoted Peter A. Johnson on lateral partner moves in law firms.
From the article:
“’The movement of partners is a trend that started nearly two decades ago,’ said Peter A. Johnson of Law Practice Consultants LLC in Boston.
‘It all stems from the transition from the profession of law to the business of lawyering that has been taking place over the last 15, 20 years,’ he said.
With that as a backdrop, Johnson confirmed that many lateral moves are client-driven: Corporate clients are shopping around, asking why one lawyer charges $700 an hour when another equally competent lawyer charges $400. As a result, many lawyers are willing to move to a lower-cost firm to accommodate their clients’ finances.
If a lawyer hears from several clients, ‘We like you, we’ll follow you but we can’t afford you,’ Johnson said, that lawyer might jump ship.
‘There seems to be less loyalty between clients and law firms, and there’s less loyalty to partners and the law firms as institutions. This notion of free agency is creeping into the legal marketplace,’ Johnson said, although business clients are still going to the more expensive mega firms for bet-the-company cases.”
Paul E. Clifford quoted on economic benchmark of revenue per lawyer in Boston Business Journal
May 21, 2010
“Infernal revenue: this benchmark isn’t quite so rosy” May 21 Boston Business Journal article, quoted Paul E. Clifford on economic benchmark of revenue per lawyer.
From the article:
“’Profits per partner is so easy to manipulate because if you have fewer partners, then profits per partner can go up over the prior year,” said Paul Clifford, a principal at Boston-based Law Practice Consultants LLC. “(Profits per partner) are really not as meaningful as revenue per lawyer.’”
Paul E. Clifford quoted on rising law school applications in Boston Business Journal
May 14, 2010
“Law school applications rise despite tough landscape” May 14 Boston Business Journal article, quoted Paul E. Clifford on the rise in law school applications despite the downturn in the economy.
From the article:
“’’They are really not reading the tea leaves,’ said Paul Clifford, a principal at Law Practice Consultants LLC in Boston, who expressed doubt that law firm hiring would ever reach the frenzied pre-recession hiring levels.”
Paul E. Clifford quoted on raising associate compensation in Boston Business Journal
April 23, 2010
“DLA Piper bolsters associate pay” April 23 Boston Business Journal article, quoted Paul E. Clifford on DLA piper’s raising associate pay.
From the article:
“’I don’t understand where the pressure is coming from,’ said Paul Clifford, a principal at Boston-based Law Practice Consultants LLC. ‘You have so many associates pounding the pavement and then the glut from deferrals. The economy does not seem to have rebounded to the extent that law firms are really busy again.’”
Paul E. Clifford quoted on summer associate cuts in Boston Business Journal
April 16, 2010
“Summertime Blues: sharp cut in summer associates reflects legal glut” April 16 Boston Business Journal article, quoted Paul E. Clifford on the sharply reduced number of summer associates at Boston law firms.
From the article:
“Paul Clifford, a principal at Law Practice Consultants LLC in Boston, notes that the recession may have changed the law firm recruitment model permanently: ‘You’re not going to see the phalanxes of summer associates the way you once did.’”
Paul E. Clifford quoted on lockstep compensation in Boston Business Journal
March 12, 2010
"Seyfarth joins the march away from lockstep model" March 12 Boston Business Journal article, quoted Paul E. Clifford on the move away from associate lockstep compensation by many large law firms.
From the article:
"Many large law firms have felt trapped by the lockstep model in recent years, so this new trend is viewed as a positive development by most firm managing partners, according to Paul Clifford, a principal at Law Practice Consultants LLC in Boston. 'I do think that most firms are migrating away from (lockstep) and I think they're delighted,' said Clifford. 'They've been looking for an opportunity to do it for years. They got locked into it — no pun intended."
Paul E. Clifford quoted on fee discounts in Boston Business Journal
February 18, 2010
"Do legal fee discounts really pay off for clients?" February 18 Boston Business Journal article, quoted Paul E. Clifford on the growing use of discounts by law firms.
From the article:
"It's tricky for law firms to discount rates more than 10 percent without cutting into profits, said Paul Clifford, principal at Law Practice Consultants LLC. 'Law firms are being dragged kicking and screaming' into doing alternative-fee or fixed-fee arrangements, said Clifford. 'They would frankly prefer to do the billable-hour rate, because it's a heck of a lot easier to figure out. There's quite a bit of uncertainty around the economics of alternative-fee arrangements."
Paul E. Clifford quoted on lawyer headcount in Boston Business Journal
January 22, 2010
"State's largest law firms shed 9% of attorneys," January 22 Boston Business Journal article, quoted Paul E. Clifford on the reduction in lawyer headcount at Massachusetts law firms.
From the article:
"Experts don't expect any one practice area to dramatically pick up the pace this year, which would be necessary to see a big boost at law firms. Indeed, real estate is still extremely slow, although litigation has begun to pick up and there is hope that M&A activity will see an uptick, according to Paul Clifford, a principal at Law Practice Consultants LLC in Boston. 'I don't see anything leading the firms out of the wilderness for the rest of 2010,' said Clifford."
Paul E. Clifford quoted on alternative law firm models in Boston Business Journal
November 20, 2009
"Law firm alternatives sprouting in a new climate," November 20 Boston Business Journal article, quoted Paul E. Clifford on alternative law firm models.
From the article:
"What clients are looking for these days are experienced lawyers at a reasonable price. Because these outfits don't have a lot of overhead, they can do outstanding legal representation at a reasonable price. Clients have rebelled against that whole $800 an hour routine,' said Paul Clifford, a principal at Law Practice Consultants LLC in Boston."
Paul E. Clifford quoted on alternative law firm models in Boston Business Journal
October 16, 2009
"Outside GC grows concept with companion company," October 16 Boston Business Journal article, quoted Paul E. Clifford on alternative law firm models.
From the article:
"I think you're going to see more and more of these types of firms,' said Paul Clifford, a principal at Law Practice Consultants LLC in Boston. 'It's a very valid concept that I think general counsels and companies like because they are experienced lawyers,' he said. 'What clients are looking for these days are experienced lawyers at a reasonable price. Because these outfits don't have a lot of overhead, they can do outstanding legal representation at a reasonable price. Clients have rebelled against that whole $800 an hour routine."
Paul E. Clifford quoted on fewer new partners in Boston Business Journal
May 15, 2009
"Partner tracks at area law firms slow with economy," May 15 Boston Business Journal article, quoted Paul E. Clifford on Boston law firms making fewer partners.
From the article:
"This has been coming for quite a few years now because firms have wanted to keep their profits per partner up,' said Paul Clifford, a principal at Law Practice Consultants LLC in Boston. 'This has created a whole dynamic where you've had fewer partners being made over the last number of years, and now on top of that the downturn means there's less business around. The economics can't sustain making more partners unless that individual has a lot of business,' Clifford said."
Paul E. Clifford quoted on associate salaries in Boston Business Journal
April 24, 2009
"Smaller law firms begin shaving first year salaries," an April 24 Boston Business Journal article, quoted Paul E. Clifford on the pressures to reduce associate salaries and move towards more merit-based compensation structures.
From the article:
"More firms will likely follow suit, said Paul Clifford, principal at Law Practice Consultants LLC in Boston. 'Firms that got themselves into this bind — it was almost like there was a never-ending cycle of having constant salary increases,' Clifford said. 'I think it's the beginning of a sea change. It's all part of the changes that are coming in terms of how the practice of law will be in the future. And salary structures are part of that."
Paul E. Clifford quoted on job opportunities in Boston Business Journal
March 13, 2009
"Small firms provide pockets of job opportunities," March 13 Boston Business Journal article, quoted Paul E. Clifford on the job opportunities in Boston law firms.
From the article:
"Midlevel bankruptcy associates are also in demand at a variety of firms, according to Paul Clifford, a principal at Law Practice Consultants LLC in Boston."
Paul E. Clifford quoted on attorney layoffs in Boston Business Journal
February 6, 2009
"Layoffs mount at area law firms," February 6 Boston Business Journal article, quoted Paul E. Clifford on the surge of attorney layoffs at Boston law firms.
From the article:
"The layoffs have created a climate of instability at the start of the year in the legal community, and more fallout is expected in the coming weeks and months, according to Paul Clifford, a principal at Boston-based Law Practice Consultants LLC. 'There's a lot of tension in the system right now,' Clifford said."