Amazing Firms, Amazing Practices: Practice Management

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Practice Management

Amazing Firms, Amazing Practices

From Gerald Riskin, a Canadian lawyer and Business School graduate with a global reputation as an author, management consultant and pioneer in the field of professional firm economics and marketing.

Post Frequency: 2.3/day

Last Entry: November 01, 2009 at 16:44:26

Gerry Riskin Luncheon Social Media Keynote to LPM section of ABA October 19, 2009 in St Maarten

Posted on November 01, 2009
This is a private password protected copy of my Social Media slides for the Social Media Presentation to the LPM (Law Practice Management) Section of the American Bar Association in St. Maarten on Oct 19, 2009. Those in attendance can obtain the password from Tom Grella...

THANK YOU Patrick Lamb for your "WOW" post

Posted on October 02, 2009
Patrick Lamb is synonymous with Valorem Law Group which is a driving force in changing how legal services are valued and acquired. After learning that Jordan Furlong was joining us, here's (an excerpt from) what he posted: It's like adding Wayne Gretzky in his prime to the team that already was the best team in the league, or adding an all-star to a team of all-stars...

Edge International proudly annouces Jordan Furlong

Posted on September 30, 2009
It is a proud day for all of us at Edge to add such a distinguished partner. After law school, Jordan articled with one of Canada's leading law firms and then opted for a career in legal journalism culminating with more than 10 years as editor-in-chief of the Canadian Bar Associations distinguished well respected National magazine and executive editor of CCCA Magazine Now Jordan joins us to offer both strategic and tactical advice to lawyers, law firms and legal organizations, centered around his very clear vision of a legal service marketplace undergoing massive and irreversible change...

Motivators More Powerful than Money?

Posted on September 27, 2009
I believe in capitalism and free enterprise. I have a business degree before law. My practicing years were spent helping clients increase their profits… managing partner years helping my partners increase theirs. You'll get no socialistic psychobabble from me...

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Does Social Media matter to law firms?

Posted on September 07, 2009
PUNCHLINE: If Social Media matters, then it matters to law firms because everything that matters to society in general must matter to law firms sooner or later. Watch this and make your own decision.

Keynote Speech Total Attorney (highlights) click"here" for larger view

Posted on July 23, 2009

(1 min 53 secs) Keynote Speech Total Attorney "highlights" click "HERE" for larger view"

Posted on July 23, 2009

(1 min 53 secs) Highlights from Keynote Speech Total Attorney click "HERE" for larger view"

Posted on July 23, 2009

Join me on a live radio 2 PM Chicago Time Wed July 22

Posted on July 20, 2009
Join me in a "Live Call-In, Online Radio Show" I had the pleasure of presenting the keynote address at the 'Get a Life.™ Conference' hosted by The Total Practice Management Association. The Total Practice Management Association has now invited its members and interested non-members to join me for a live question and answer session on Blog Talk Radio at based on my keynote address called: Bulletproofing® Your Clients and Your Joy of Life Watch video highlights of the presentation here...

Join me on a live radio 2 PM Chicago Time Wed July 22

Thank you Arnie Herz(Legal Sanity Blog) for interview

Posted on May 20, 2009
My good friend Arnie Herz (Lawyer and Consultant) was kind enough to interview me for his blog: the legal sanity mentor: gerry riskin

Thank you Arnie Herz(Legal Sanity Blog) for interview

Posted on May 20, 2009
My good friend Arnie Herz (Lawyer and Consultant) was kind enough to interview me for his blog: the legal sanity mentor: gerry riskin

Wolfram Alpha from Steven Wolfram (a computational knowledge engine)

Posted on May 19, 2009
This is the most important technological breakthrough I've seen in 10 years. The fact that it was not designed specifically for the legal profession should not deter you from availing yourself of this resource starting NOW. Google is amazing… Wolfram Alpha transcends it...

Wolfram Alpha from Steven Wolfram (a computational knowledge engine)

Study Predicts 5 Percent Growth in Legal Spending by Fortune 1000

Posted on May 09, 2009
Good news for some… HOWEVER even with that increase: "overall legal spending is expected to decline just 1.4 percent for the year." Source: ABA Journal Post referencing BTI PDF from which above image was extracted...

Study Predicts 5 Percent Growth in Legal Spending by Fortune 1000

Managing Partners should have 3 priorities as confidence index drops to record low

Posted on March 31, 2009
From the Sacramento Business Journal today: Law firm confidence index drops to record low Excerpt: Confidence in the economy among managing partners at large law firms nationwide hit new lows in the first quarter, according to the latest research from the Citi Private Bank Law Firm Group in New York City...

Managing Partners should have 3 priorities as confidence index drops to record low

Get A Life.? - Annual Conference

Posted on March 26, 2009
Keynote Presentation in Chicago May 27, 28 at the Get a Life conference for lawyers. ...also Strategic Planning Session to close the conference ...details

Lawcasts by Charon QC

Posted on March 06, 2009
I was honoured today to participate in Charon's 114th Lawcast which you can hear at the Charon QC blawg or download it from there in iTunes format: Lawcast 114: Gerry Riskin, founder of Edge International - Law practice in these recessionary times Access all of Charon's lawcasts by clicking on Charon's Lawcast website logo below Charon QC is intelligent, articulate and highly entertaining...

Lawcasts by Charon QC

Succeeding in Tough Times

Posted on February 18, 2009
Succeeding in Tough Times: A Survival Guide for Lawyers & Firms Friday, March 13, 2009, 8:15 am - 5:00 pm Seattle 5.0 CLE Credits (MCLE approved) Keynote Speaker: Gerry Riskin, Edge International

Succeeding in Tough Times

What the Obama campaign can teach us about marketing

Posted on January 17, 2009
Bruce Marcus of The Marcus Letter offers us a fascinating lesson in transposition in his new article called "HOW TO ELECT A PRESIDENT -- OR GET A CLIENT". Bruce’s tag line is the name of this post. Here’s a quote from Bruce Marcus as he shines his light on learnings from the campaign of President Barak Obama: There are many lessons to be drawn by professional services marketers from a successful election campaign – perhaps none more cogent than from the Obama campaign...

What the Obama campaign can teach us about marketing

Posted on January 17, 2009
Bruce Marcus of The Marcus Letter offers us a fascinating lesson in transposition in his new article called "HOW TO ELECT A PRESIDENT -- OR GET A CLIENT". Bruce's tag line is the name of this post. Here's a quote from Bruce Marcus as he shines his light on learnings from the campaign of President Barak Obama: There are many lessons to be drawn by professional services marketers from a successful election campaign – perhaps none more cogent than from the Obama campaign...

Say something important and relevant and people will listen

Posted on January 14, 2009
Jan. 14 (Bloomberg) -- The week after Bernard Madoff was charged with running a $50 billion Ponzi scheme, Proskauer Rose, a New York firm of 750 lawyers, offered a telephone briefing on the scandal for its wealthy clients. With only a day’s notice, 1,300 Madoff investors dialed in...

Say something important and relevant and people will listen

Surviving the Slide

Posted on January 13, 2009
I was honoured to be included in the round table that culminated in the cover story of Law Pro Click on the image to download the PDF. I am in good company. The roundtable included: Karen MacKay Merrilyn Astin Tarlton and Ed Flitton If you would like the entire magazine, download it here

Surviving the Slide

Edge International is on the Ground in India

Posted on January 12, 2009
Ms. Juhi Garg Edge International is delighted to announce the addition of Ms. Juhi Garg. Juhi holds a Masters in Business Law from India's foremost law school, the National Law School of India in Bangalore and is also a graduate in media from Delhi University...

Edge International is on the Ground in India

The Blog Post I Do Not Have to Eat - thanks to Patrick Lamb

Posted on January 10, 2009
Patrick was kindly referring to my August 2007 post called Doom and Gloom in the Legal Profession - It's Coming which I promised to eat if wrong. I am sorry I don't have to eat it for reasons you will see if you review it...

The Blog Post I Do Not Have to Eat - thanks to Patrick Lamb

Your Strategic Plan to Make More Money While Working Less

Posted on January 08, 2009
Keynote Presentation in Chicago May 27, 28 at the Get a Life conference for lawyers. ...also Strategic Planning Session to close the conference

Get A Life.? - Annual Conference

Posted on January 08, 2009
Keynote Presentation in Chicago May 27, 28 at the Get a Life conference for lawyers. ...also Strategic Planning Session to close the conference ...details

Cravath Swaine & Moore Killing the Billable Hour?

Posted on January 06, 2009
Evan R. Chesler is a Presiding Partner at Cravath, Swaine & Moore LLP. He has offered his thoughts via Forbes in a piece called: Kill The Billable Hour. There is no suggestion that he is articulating a new policy for the entire firm but he is clear on his own views and given that he is the presiding partner, his words may very well represent some strategic thinking within the firm...

Cravath Swaine & Moore Killing the Billable Hour?

Will economic hardship mean more client/law-firm fraud?

Posted on January 05, 2009
Perhaps these troubled times will motivate more attempts to defraud law firms - Managing Partners, what have you done to strengthen security lately? Client Reportedly Scams $1M from Philippine Law Firm

Will economic hardship mean more client/law-firm fraud?

Bravo Pepe & Hazard for demonstrating what "client driven" really means

Posted on December 01, 2008
Pepe & Hazard has had the courage to decide to freeze its rates for existing clients for 2009 and to go public with that information. Managing Partner Al Turco Managing Partner, Al Turco, said [Pepe & Hazard] is in the process of formulating a 2009 budget to manage its own revenues and expenses...

Bravo Pepe & Hazard for demonstrating what "client driven" really means

The Art of Laying People Off

Posted on November 28, 2008
PUNCHLINE: (yes, I'll start with it) Managing Partners: I don't think you should downsize now unless you absolutely have to. It's a rough world out there - you should have cut the underperforms a long time ago...

The Art of Laying People Off

What does the Futurist see for your firm?

Posted on November 25, 2008
Read all of the Top Ten Predictions from the Futurist for 2009 and on - possibly most relevant to the legal profession are: 5...

What does the Futurist see for your firm?

Posted on November 25, 2008
Read all of the Top Ten Predictions from the Futurist for 2009 and on - possibly most relevant to the legal profession are: 5...

When are you meeting with your Landlord

Posted on October 28, 2008
Negotiating is a question of power. The Chicago tribune reported today that: Layoffs at Chicago law firms have sent a shudder through the commercial real estate market. The article, Cutbacks at firms worry landlords, quotes Bill Rogers, managing director of commercial real estate firm Jones Lang LaSalle: "I do have a sense that you may see some landlords get a little more aggressive and push rates down" The articles continues: That is likely to push firms into the real estate market...

When are you meeting with your Landlord

Banks force troubled law firms to rethink structures

Posted on October 20, 2008
"[Law] Firms in financial ‘intensive care’ told to merge, divest or restructure as cash dwindles from accounts" OK, this is a UK story but so what! What reason do we have to believe that law firms around the world will not encounter similar challenges (perhaps they already are but are keeping it between themselves and their bankers)...

You'll never see a sticky note the same way again

Posted on September 17, 2008
EepyBird's Sticky Note experiment from Eepybird on Vimeo. HUGE THANK YOU to lawyer and creativity genius, Matthew Homann of the [non billable] hour and his ingenious LexThink

Call for US lawyers to get involved in voters' rights issues

Posted on September 16, 2008
I am passing this forward for my good friend, Kirk T. Hartley, of the Chicago litigation boutique, Butler Rubin Saltarelli & Boyd LLP. He cares a lot about voting rights! Kirk asked me to direct you American Lawyers who care about voting rights to his post Offtopic - Lawyers and Voters' Rights 2008 - Get Involved at GlobalTort

How Optimistic Law Firm Leaders Might React to Wall Street

Posted on September 15, 2008
The image above is the core of the post of internet phenom, Rajesh Setty, in his post today at Life Beyond Code: Optimists and Pessimists - The big difference is.. Couple that with the wisdom of lawyer and legal profession provocateur, Patrick Lamb, in his post today: Silver Lining in Black Economic Cloud? in which Pat says among other things: If you don't see the opportunity to restructure relationships in ways that produce savings for your clients while at the same time strengthening your relationship with that client, you need to open your eyes...

Lehman Liquidation? Merrill Acquisition? Greenspan: "worst economy I've ever seen"?

Posted on September 15, 2008
Managing Partners, you may have a disaster plan for fire, perhaps for terrorism - do you have one for the economic train coming off the tracks? Listen (and watch) what Greenspan said yesterday Sept 14th (50 seconds) Punchline: You are getting fair warning - are you acting on it? This is not a time for traditional strategic planning - it is time for scenario planning that will create "dynamic resilience" that may become the life support system your firm will need should the economy worsen...

30 Tips for Getting Along With Others

Posted on September 13, 2008
Many of my law firm clients tell me that one of their biggest "people" problems is that some people just don't work well with others - why? because they don't always get along. Enter a brilliant post by Marelisa Fabrega (lawyer/blogger/woman-extraordinaire) called 30 Tips for Getting Along With Others You might want to get Marelisa's permission to print her post and use it for an internal workshop or two...

The rest of the world is counting on you, Americans!

Posted on September 10, 2008
Americans!! You are the only ones who can participate in your upcoming election so on behalf of foreigners like me, (in my case, a proud Canadian living in Anguilla, British West Indies) PLEASE get involved and please vote. The higher the turnout, the more those of us who are not Americans can respect your outcome...

Oh my Darling - 60 years!!!

Posted on August 30, 2008
Britain is facing "arguably the worst" economic downturn in 60 years which will be "more profound and long-lasting" than people had expected, Alistair Darling, the chancellor, tells the Guardian today in a story called: Economy at 60-year low, says Darling...

The One Piece Of Advice You Need to Get the Fees You Deserve

Posted on August 15, 2008
RainToday.com created a special report from 12 experts in pricing professional services, including, I am honoured to say, yours truly. You can download my article: "Think of Services in Terms of Value – Not Rates" by Gerry Riskin (author: The Successful Lawyer) or download the entire 39 page report including all 12 articles by visiting RainToday...

"How the 'Cravath System' Created the Bi-Modal Distribution."

Posted on July 23, 2008
Law Professor William D. Henderson (click on photo for bio) Managing Partners and law firm H.R. Executives should contemplate the meaning of Indiana University School of Law's Prof. Bill Henderson's post: "How the 'Cravath System' Created the Bi-Modal Distribution...

A new kind of law firm: Virtual Law Partners

Posted on July 17, 2008
Stephanie West Allen breaks a story that we will look back on in ten years as groundbreaking. Have a look (click on the image for Stephanie's post): PUNCHLINE: I can relate having lived in a virtual world for many years. Lawyers in most firms seem to resist the virtual world in favour of the comfort of bricks and mortar and "proximity" - working with someone on the next floor seems easy enough but in another city? Many still have trouble with that one...

When Better Service Is a Bad Thing

Posted on July 01, 2008
What is your initial reaction to the title of this blog post? I thought it was daft… until I read the complete post by Susan Cramm on June 25, 2008 on her Harvard Business Blog: Having IT Your Way. Here is an excerpt from her blog post: Over the past decade, IT organizations have worked hard to improve services and in turn increase IT’s impact on the business...

Law firm Leaders - here's 3 minutes 53 seconds from Tom Peters

Posted on June 09, 2008
Tom Peters on the Definition of Leadership from Tom Peters on Vimeo. Whether you are Firm Chair, Managing Parter, Practice Group Leader, Industry Group Leader or Client Team Leader, I believe 3 minutes and 53 seconds will prove a useful catalyst for your thought...

Weather the Storm Article Available from Canadian Bar Association's The National

Posted on May 23, 2008
To download this article, click on an image or this link.

"once-in-a-lifetime" - Valorem Law Group

Posted on April 15, 2008
As Nicole Nehama Auerbach joins Valorem, she says: “I saw Valorem as a once-in-a-lifetime opportunity to really make a difference in the way litigation is handled... I was captivated by the firm’s commitment to provide real value to business clients, and, in particular, its emphasis on alternative fees...

Diversity - Call To Action (CTA) Summit

Posted on March 21, 2008
General Mills' Roderick Palmore According to Roderick Palmore, executive vice president, general counsel and chief compliance and risk management officer at General Mills Inc: "The statistics speak for themselves. They say our progress in the profession has been disappointing...

What do Bear Stearns and Enron have in common?

Posted on March 17, 2008
The Services Safari Blog posted this yesterday: Calling all Lawyers... The Bear Stearns Collapse The following is an excerpt: Shareholder litigants are going to be talking about this one tonight and tomorrow. Let's recap the fall of Bear Stearns stock price and market value the last year: Stock price last year: $159/share - market cap: $18...

Answer Your Outsourcing Questions

Posted on March 15, 2008
Answer Your Outsourcing Questions Why do some corporations and law firms outsource legal work while others do not? What ethical issues arise in outsourcing legal services? Who is doing the outsourced work and what qualifications do they have? What type of legal work is being outsourced? What are the concerns regarding the outsourcing of patent drafting and patent searches? What impact, if any, will legal outsourcing have on the elite guild nature of the U...

"economically-irrational" associate salaries hit ceiling

Posted on February 16, 2008
The Wall Street Journal has a post called: Big-Law Associates Facing 2008 Salary Cap by Dan Slater.Here is a key paragraph from that post from which my title was derived: "We called around to firms to find out whether associate salaries, called economically-irrational in some quarters, have finally (or, at least, for now) hit a ceiling...

Private Posting for February 15 Presentation

Posted on February 16, 2008
Participants Only Click Here

Don't let your "winning streak" become a "losing streak"

Posted on February 13, 2008
Is your “winning streak” about to become a “losing streak”? I believe it is likely unless you prepare for the test you didn’t ask for but are about to take. Let's be honest, most law firms have had a pretty good run and your partners are well accustomed to it...

Recession-Proof your Law Firm

Posted on January 24, 2008
The worst market crisis in 60 years: "recession or worse"? Says who? The 80th richest man in the world, George Soros, (estimated net worth of 8.5 Billion according to Forbes). Is Mr. Soros toying with the "D" word: "Depression" when he says "recession or worse"? I recommend that you read the entire Financial Times (FT) article dated January 22, 2008: The worst market crisis in 60 years...

The Edge International Managing Partners Strategy Summit

Posted on January 22, 2008
Gary Wingens of Lowenstein Sandler and Frank Burch of DLA Piper listen to Dan DiPietro of Citibank forecasting a tough 2008 at the Army and Navy Club in Washington DC during The Edge International Managing Partners Strategy Summit Last week, my Edge International partner Robert Millard and I hosted a very private, personal, invitation only, Strategy Summit for the Managing Partners of 10 law firms to explore: • key strategic issues facing law firms today • what law firms are doing to address these issues • what constitutes "best practice" in the law firm strategy process The managing partners represented firms ranging from the largest in the world (DLA Piper) to a tiny, brand new firm with a highly innovative business model (Valorem Law Group...

American and Canadian Lawyers - IMPORTANT & TIME SENSITIVE

Posted on December 06, 2007
The most important thing you can do for our profession today is to visit the ABA or CBA and sign your respective petition to assist lawyers in Pakistan. I have never asked before but how about forwarding this to every lawyer in your firm.

Thanks for the nomination but I am not running for office

Posted on December 02, 2007
I liked this: Your legal blog has been selected by the ABA Journal as one of the 100 best websites for lawyers, by lawyers. Congratulations! I liked this even more: “Our list of the 100 best lawyer blogs is the cream of the crop from our directory of more than 1,500 blawgs in dozens of categories, including blawgs focused on almost every state, law school and major federal court in the nation...

New York Times suggests top law firms seem absolutely irrational

Posted on December 01, 2007
Here’s the actual quote: Lawyers are smart, but this herd mentality seems absolutely irrational, economically speaking — and not because the compensation is too high. The top law firms have been stuck in copycat mode for years. As soon as one of them raises salaries for associates, the others fall in line almost immediately...

Mo Fo's new Mo Jo

Posted on November 26, 2007
After a 15 year COO/Executive-Director drought, Morrison & Foerster is making a move that is more akin to the behaviour of British and Australian firms than American ones – they have looked outside the firm and indeed outside the legal profession to fill their new Chief Operating Officer Position...

Some Lawyers Get Perks for Health and Happiness

Posted on November 23, 2007
The New York Times Business section included an article yesterday called: For Lawyers, Perks to Fit a Lifestyle. The article alluded to a variety of perks including money, candied apples, milkshakes, car discounts, valet services, wine, office parties, in-office gourmet meals on silver platters, nap rooms, child care, emergency nanny services, sabbaticals and even an occasional masseuse...

Hero: Chief Justice Iftikhar Mohammed Chaudhry asks lawyers to sacrifice

Posted on November 06, 2007
Chief Justice Iftikhar Mohammed Chaudhry -- fired by Musharraf Saturday -- in a phone call to a gathering of lawyers urged them to go to "every corner of Pakistan and give the message that this is the time to sacrifice." This in the face of: "Baton-wielding police fought with lawyers outside courthouses in Islamabad and Lahore again Tuesday, arresting dozens more as they enforced Pakistani President Pervez Musharraf's crackdown on judicial activism...

Police Use Tear Gas and Batons against Lawyers!

Posted on November 05, 2007
Pakistan attacks the rule of law and beats on lawyers who were attempting to peacefully protest for the most fundamental rights available to human beings. Every lawyer in the world feels the pain of every brutal blow of the oppressing regime's batons on our profession...

Latest "Edge International Review" Available for Downloading

Posted on October 22, 2007
Click on image to increase size Click here to access magazine and individual articles

If you had been in White and Case's NY boardroom last Thursday...

Posted on October 20, 2007
...you would have seen my Edge International colleague and friend, Robert Millard, present the findings from the latest Managing Partner Forum Survey related to differences in approach to strategy in firms in the United Kingdom vs North America, and also in CPA (Accounting) Firms vs Law Firms...

LOGITHISER - BRAVO EVERSHEDS

Posted on October 19, 2007
click on image for larger view LOGITHISER – a new term for law firms The Logical Empathiser. The accepted wisdom is that anyone who possesses great reason and logic is quite devoid of humanity and warmth. The Logithiser is living proof that wisdom, in this case, is fallacy...

Leaders: Genuine Inspiration from Sir Richard Branson

Posted on October 13, 2007
Is the UK's wealthiest man also its wisest? If you have about 1/2 hour to sit in on a fascinating conversation with Sir Richard, head over to Adventures in Strategy, my Edge colleague and friend, Robert Millard's blog post: Richard Branson on Life, Succeeding in Business and Everything(Recorded March 2007 in Monterey, California...

Are you biased based on skin colour?

Posted on October 07, 2007
Take this Harvard test and get your own (possibly surprising) results in five minutes. Thank you to The Complete Lawyer for "Test Yourself For Hidden Bias" in the Surveys and Research section.

The Flight of a Bat - Elegant Graphics

Posted on October 03, 2007
Click on Image to enlarge Indulge a father's proud moment as I celebrate the extraordinary work of my son Daniel Riskin (PhD Cornell - now doing post-doctorate work at Brown) along with the other scientists on this project. The sophistication of the analysis of the flight of bats is unprecedented and its rather poetic that a visualization should bring top prize...

A Great Law Firm "Driven to [Self-] Destruction"?

Posted on October 02, 2007
Recipe for disaster: secrecy, unfair competition, deteriorating culture and even a partnership agreement that did not foresee that it was too generous to departing partners if more than a handful left at a time… Joanna Pachner of Canada’s highly respected publication, Financial Post Business, writes in detail today about how and why the highly respected and profitable Canadian law firm of Goodman & Carr met its demise...

Police Sharpshooter takes aim at Baker & McKenzie Secretary

Posted on September 26, 2007
For the full story, click on the rifle.