ChadKing.com Archives: March 2006
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24 March 2006
Law Firm Economics: The Impact of Associate Raises
The recent hikes in associate salaries at midsize and large law firms have many speculating about the impact it will have on law firms specifically, and on the legal profession in general. Basic economics say that the higher the personnel costs, the less money is available for partner distributions. But this round of raises could have profound implications beyond mere economics.
Consider these four factors:
1. [...]
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22 March 2006
The Law Business 101: The Five Stages of Marketing
In every industry and profession, including legal services, the marketing process can be broken into five stages: (1) consumer analysis, (2) market analysis, (3) competitive analysis, (4) distribution analysis, and (5) marketing mix. Don’t worry if this process sounds confusing or too MBA-ish. We’ll break it down into detail in future tutorials and show how it [...]
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15 March 2006
Lessons from Maister
David Maister is one of the most well-known (and many would argue, the most well-known) law firm consultants in the country. His books include Managing The Professional Services Firm, True Professionalism, The Trusted Advisor, Practice What You Preach, and First Among Equals.
David recently launched a podcast series called Lessons I’ve Learned that covers topics such [...]
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13 March 2006
Managing a Better Professional Services Firm
If you’re looking for a law firm management primer, here’s a new one. Best of all, it’s free and downloadable without any sort of registration requirement. The booklet is by PracticePro and is called managing a better professional services firm.
This 50-page publication is packed full of useful nuggets including, among other things, tips on client communications, marketing, billing, technology and leadership issues.
From [...]
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1 March 2006
Hildebrandt on Legal Outsourcing
I’m an avid reader of Hildebrandt’s advisories and email newsletters. My experience is that their research is thorough, analysis is deep, and trendspotting is second-to-none. That’s why I was especially interested when I read their 2006 Client Advisory. Among other things, they note that legal outsourcing is beginning to heat up:
The past year saw a continuing interest [...]
