Law Firm Strategy Insights

“Without Bridgesphere, I couldn’t run my firm. They are an indispensable part of our finance and operations.”

– Bridgesphere Client

The Hottest Thing on Tidal Since Beyoncé

Walking along Ocean Beach, I couldn’t help but gaze at the jaw dropping distance between where surf hit the sand and the waterline marking high tide from the night before.

A mere nine hours earlier, waves were crashing at a distance that would take a full 90 seconds to walk. To think that the gravitational pull of the moon and the sun are entirely responsible for these changes is astounding.

read more

A Bridge To Nowhere – The art of getting unstuck

The other day, I was sitting in traffic trying to cross the Golden Gate Bridge. I needed to get to the North Bay to meet an important networking colleague and referral partner. It was a meeting that easily could have been a “catch up session” over the phone. But seeing as it was springtime, we aimed to meet at a favorite spot that has a fantastic reputation for sunny sidewalk seating, great Italian food, and rich espresso.

read more

Sun Tzu, Big Data & Law Firm Management

“It is difficult to get a man to understand something, when his salary depends on his not understanding it” – Upton Sinclair

“To fight and conquer in all our battles is not supreme excellence; supreme excellence consists in breaking the enemy’s resistance without fighting.” – Sun Tzu

read more

2 Ways Law Firm Analytics Turn Your Data Into Profits

Law Firm Analytics are a smart and proven way to turn the data your firm already collects into profits. While every law firm is unique, our research and clients have proven that every law firm has about 10% of its revenues “trapped” inside of their time and billing data

We typically point to ten business issues that cause revenue and profits to remain “unrealized”, or trapped inside of a firm’s data. In this article, we will highlight two:

read more

Succession Planning For Law Firms: 2 Steps to Improve Law Firm Valuation

Sometimes, succession planning for law firms is akin to the purple elephant in the room. It doesn’t have to be that way.

Dealing with the nuances of succession planning can give rise to a host of political, economic, and even emotional issues which can be difficult to address. Don’t let such challenges and uncertainties prevent you from taking 2 simple steps to improve your income and law firm valuation.

read more

Law Firm Mergers: Risk, Reward & The Holy Grail

Law firm mergers are served with a heavy dose of risk. History suggests that only one-in-three law firm mergers will improve profits per partner. We see three prevailing industry trends that further-complicate law firm mergers. While law firm combinations can be headline inducing, the aftermath may be similar to the vast majority of corporate transactions: disenfranchised stakeholders.

read more

Law Firm Management: How Small & Medium Sized Firms Are Capturing Biglaw Marketshare

There has been a lot of recent commentary regarding the “impending doom” of Biglaw. Many industry observers point to a summer sprinkled with strategic layoffs (Weil Gotshal), changing partnership strategies (Patton Boggs), and speculated mergers such as Orrick + Pillsbury, or Patton Boggs + Locke Lord as the signs of significant change.

Recently, the Wall Street Journal highlighted how small and medium sized law firms are enjoying a growing share of corporate work that used to be the dominated by big law firms. Why? Smaller firms have been able to charge less, provide better service, while using talent that has years of Biglaw experience under its belt.

read more

Law Firm Strategy – Changes in Biglaw will impact small and mid-sized law firms

There has been a lot of recent commentary regarding the “impending doom” of the Biglaw business model. Many industry observers point to the recent comments and layoffs at Weil Gotshal. Others highlight a changing partner strategy at Patton Boggs as the early signs of change. Some industry observers render law firms as a seemly “doomed industry” that is either going to drastically consolidate or face a period of severe economic duress.

read more

Is Your Virtual Law Firm Career Suicide?

The virtual law firm: Much like “big data” and “the cloud” the virtual law firm is an ambiguous concept. From our perspective, we define the virtual law firm as a business model comprised of a unique collection of senior attorneys who share resources in an effort to reduce overhead and expand their portfolio of services.

The concept is intriguing. In any competitive industry, smaller businesses develop disruptive business models in an effort to capture market share from their larger competitors and create stakeholder value.

read more

Strategic Planning and Law Firm Consulting – Every law firm is unique

We are often asked to highlight some of the key strategies we recommend for law firms that endeavor to improve cash flow and profits per partner. This article provides a high-level approach to strategic planning – and how our law firm consulting solutions simplify this process.

A key to successful strategic planning is to recognize that each firm is a unique business. Every law firm is comprised of a unique group of lawyers that form a distinct culture. Successful law firm consulting solutions improve cash flow and profits per partner by focusing on five key areas of the business:

read more

The Law Firm Strategic Plan – How to improve growth & profits per partner

Law firms participate in a maturing market. Growth is becoming more difficult to achieve. Corporate clients keep more legal matters in house. The emergence of “virtual” law firms is now a reality. The migration of talent from law firms that fail to provide a high quality culture and incentive-based compensation is a reality facing many firms. We are experiencing the early innings of change. A high quality strategic plan can be your law firm’s road map to success in a changing marketplace.

read more

Law Firm Culture – The high price of toxicity

Does your law firm have a toxic culture? A recent survey from CareerBliss ranked the unhappiest jobs in America. According to the survey, associate attorneys earned the highest average salary, but their wallets failed to generate satisfaction. Associate attorneys have the unhappiest jobs in America. It doesn’t have to be this way.

read more

Analytics – Simplifying law firm management

What did my associates accomplish last week? Knowing what your law firm accomplished, and more importantly, what you need to achieve next is a critical component of effective law firm management.

Did you accomplish your goals last week? Did your associates achieve the right utilization rates? Are you on-track to hit your financial goals for the month?

read more

Schedule your free consultation

or call (888) 995-0818 to learn more!