Walker Clark
Worldview Archives
Why Small and Midsize Law Firms Can Have a Great Future
At Walker Clark, we remain amazed by how many law firm partners — and even some law firm management consultants — really believe that the legal profession will eventually be dominated by the global giants. Under this overblown scenario, all the other firms will simply have to be content with the scraps that fall from the big firms' dining tables.
Our firm's experience and observations advising small and midsize firms on business strategy, profitability, and internal operations, persuasively demonstrate that smaller firms can compete very effectively even against some of the best-known and most powerful law firms in the world.
Recession-Proof Your Law Firm: Pay attention to the business.
This is the second of a series of four posts that outline issues that law firms should consider today in order to be prepared for future recessions... or worse.
Cash is the life blood of a law firm at any time, and it is critical to survival in a troubled economy.
New Blood for Zombie Law Firms
There is an old saying among law firm managers: "Even the best-managed law firm is only 90 days from bankruptcy."
This is because most law firms traditionally have been woefully under-capitalized. To some extent, some of these firms are already financial zombies. They survive due to good luck, deft financial management, and the persistence of partners — none of which can sustain them indefinitely.
