If there was a handbook for members of law firm management, it
would be The First Great Myth of Law Firm Management is that it
Exists. Dealing with the tough topics that managing partners worry
about but many consultants are afraid to tackle, The First Great
Myth K collects some of Ed Wesemann s most popular articles from
publications around the world, including his famous monthly e-mail
columns. Some of the topics covered include: faFiring Unprofitable
Clients Many firms get so busy pushing hours and rates that they
overlook a critical review of their clients as an opportunity to
pick some low hanging fruit. ]. faTen Terrible Truths About Law
Firm Strategic Planning Law firms have trouble implementing
strategic plans because it is a flawed process from the beginning.
fa Valuing Management Law firms aren t really mismanaged V most
aren t managed at all. That s what you get when you have volunteers
running your business. fa Taking the Easy Way Out: Non-equity
Partnerships Many firms think that by making non-equity partners
they have solved their problems with unproductive partners and
associate leverage. Wrong fa Ten Terrible Truths About Law Firm
Compensation Some law firms equate compensation with management as
if lawyers were commission based aluminum siding salesmen. It s
time to take a new look at the way we pay people. fa Hitting the
Wall: Six Rules to Managing the Mega Practice Most major business
developers top out at about $3 million in annual billings. It s
time to help the elite billers manage their practices. fa Knowledge
Management: The Emperor Has No Clothes For most law firms, all of
the money and effort spent on knowledge management is a waste of
time. For anyone to benefit from KM, law firms have to change the
way they do business. faPricing to the Market Some clients are more
price sensitive than others. It is possible to identify the clients
who are willing to accept higher rates
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