Future of profitability models and analysis for BigLaw firms

Tim Corcoran has penned “The Future of Profitability Models and Analysis for Law Firms, a telling chapter in a recent Ark Group publication.
A regular Dialogue contributor, Tim brings a strong business focus to his work and writing, so it should be little surprise that he begins, “A ruthless market will simply and increasingly ignore law firms whose leaders’ pursuit of outdated success metrics position them loudly and wildly out of sync with market demand.”

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Posted by on Jul 16, 2019 in BigLaw firms, Business models | 0 comments

Succeeding in BigLaw means business velocity

With a business person’s perspective, contributor Tim Corcoran, is back on Dialogue with Succeeding in BigLaw means business velocity. Tim’s is another compelling view of the gap between what clients need and what law firms, in the main, believe they are delivering. Referenced at the end of Tom’s post, our research on what clients see as and need from innovation makes the same point from another angle. I commend Tim’s piece.
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Posted by on Apr 9, 2019 in BigLaw firms, Strategy | 0 comments

Incentivising the New Normal

Businesses that don’t merely endure, but thrive, over extended time periods tend to attract and foster leaders who establish and maintain tight alignment between business strategy and business execution.
Unfocused businesses with unfocused leaders generate sub-optimal financial performance even when things are going well. But when permanent market disruptions occur — a certainty in every market segment — unfocused businesses with unfocused leaders tend to flail until they’re acquired, dissolved, or relegated to a shadow of their former strength. This is a lesson that many law firm leaders have learned.

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Posted by on Sep 19, 2017 in BigLaw firms | 0 comments

Ten Things I’d Do Differently as a Law Firm CEO

Tim Corcoran first published Ten Things I’d Do Differently as a Law Firm CEO on his blog in March 2013. Re-reading Tim’s illuminating views reminds me plus ça change, plus c’est la même chose. Most (well, at least most observers) now agree the biggest challenge facing BigLaw business model firms is change management. Tim focuses our minds on actions top leaders can take to enable firms to cope better with the increasingly tough external environment.  It’s no surprise that after four years, Ten Things I’d Do Differently as a Law Firm CEO remains the top rating post on Tim’s blog.

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Posted by on Mar 17, 2017 in BigLaw firms | 0 comments

The Lateral Unicorn – Recruiting a Fantasy

Today’s thinkpiece by Tim Corcoran, The Lateral Unicorn – Recruiting a Fantasy, is not only timely (once again!), but also cogently put. Trade media headlines using phrases like ‘lateral hiring frenzy’ and ‘laterals hit another record’ abound and make good voyeuristic copy. But I think Tim’s headline, The Lateral Unicorn – Recruiting a Fantasy, really nails the issue. Read why. 

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Posted by on Nov 4, 2016 in BigLaw firms, Lawyers | 0 comments