Practice Management

A Prosperous New Year For Law Firms

By Tom Collins

To Law Firm Leaders: Wishing you a Prosperous New Year

As I head into retirement and turn this blog over to those who will carry on in the years ahead, I leave you with two thoughts that, if you take to heart, will mean more partner income for 2008 and the years ahead.

I had to learn them the hard way. They are the core beliefs that have guided me throughout my business career. At least they guided me during the most successful part of that career.  It took a while before I came to understand that these two certainties govern the success or failure of businesses?including law firms.    

1. You are always judged by others

2. Business is a journey that involves constant change.

You are only as good as seen through the eyes of those that judge you. For a law firm, that primarily means your clients, your peers and your employees.  But don?t forget all of the others that your success depends on, including vendors and service providers.  The only sound business strategy is to pursue excellence. And excellence must be earned through their eyes, not yours.  Excellence can only be pursued through change. You either purposely change to improve or the natural forces at work will pull you down to lower and lower performance. 

Steering the course for excellence takes measurements. You have to set goals. You have to decide how you are going to achieve those goals.  You have to measure your progress, make adjustments and set new goals as you continue to chase the allusive standard of excellence.  It is a moving target.  It takes constant innovation not to lose the race to others.  Rather than stay too long with what has worked in the past, you must diligently simplify, eliminate and reinvent. 

PS:  Morepartnerincome.com just received Dennis Kennedy?s nod as the Best Overall Law Related Blog and also takes home the Blawggie Award for Best Law Practice Management Blog.  Being recognized for your work beats a gold watch every time!  Thanks Dennis.

Morepartnerincome.com is sponsored by Juris®.  For information about Juris products and services for increasing law firm performance and partner income contact Juris National Sales Center:

 877/377-3740, e-mail info@juris.com or go to www.Juris.com.

Full post as published by More Partner Income on December 27, 2007 (boomark / email).