Law Firm Leadership in 2009

I recently came across the following quote:

"A man cannot lead others where he is not willing to go himself."

It's a great quote in many ways and certainly food for thought. In the current economic climate with the changes we're seeing in the practice, including layoffs and cutbacks, leadership becomes particularly important.

For those firms that want to survive in this economy, leadership is critical. If firms want to keep good talent and keep clients happy, law firm leadership will have to deal with the fallout of economic pressures facing their firms and their clients. Law firm leaders will need to be crystal clear about the firm's vision and be willing to do what it takes to get there and to help the attorneys and staff that remain in the firm to reach the firm's goals.  Communication of the firm's vision and goals to everyone on staff is a crucial first step. If leadership isn't willing to articulate the plan and take the necessary steps, the rest of the firm will be unable or unwilling to follow.

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[Duties of an executor of a will]

The American Lawyer reported today that leaders of the nation's largest law firms are uncharacteristically uncertain about what 2009 holds for their organizations. In its annual Law Firm Leaders Survey, an unprecedented 35 percent of managing partners predicted profits will decrease or stay flat next year. But, 98 percent of respondents reported that they are still planning to raise billing rates in 2009 and 72 percent said that, despite layoffs, they expect a variety of factors to produce head count increases.