We’ve been including the annual Client Advisory by Hildebrandt/CitiBank as an MPF Featured White Paper for many years. Why? Because it’s a darn good report! Although focused primarily on BigLaw, the information presented in this 10-page report is timely and relevant for smaller and mid-size law firms, as well. We recommend that you and our firm pay special attention to the last few pages that focus on how law firms will succeed in 2017 and beyond. Going forward, the most successful firms will adhere to a model that:
- Focuses on Revenue Growth
- Improves Profit Margins
- Builds and Maintains Leverage
- Promotes a High-Performance Culture
- Compensates Performance
- Exercises Deliberate Lateral Hiring
- Plans for Transition and Succession
- Govern Efficiently and Effectively
We talk about these issues all the time at MPF programs and conferences. We hope that you and your partners talk about (and act on) them, too.