Afleveringen
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In today’s episode, I examine strategies to help lawyers navigate a successful start to the new year in large law firms, touching on topics such as avoiding time traps, setting achievable goals, and maintaining work-life balance.
I share real-world examples, actionable steps, and personal insights to address challenges unique to the legal profession, including managing non-billable tasks and actively shaping your career path. If you’re looking to step into the new year with intention and clarity, this episode offers practical advice to make the most of your time and energy.
At a Glance:
0:00 Introduction to today’s focus on starting the new year strong
02:02 The importance of avoiding last year’s mistakes and saying “no”
03:13 Prioritize meaningful opportunities and balance workload effectively
04:10 Move forward from past setbacks and focus on future plans
05:24 Set actionable priorities for the year with specific goals
06:24 Engage with your network strategically to grow client relationships
08:15 Proactively meet new colleagues and build internal connections
09:18 Set a timeline for your professional goals and sticking to it
10:41 Use trackers and schedule to stay accountable and avoid frustration
11:07 Take ownership of your career path and seek better opportunities
12:14 Avoid passivity and actively shape your work experience
13:04 Identify changes to move forward when feeling stuck
14:16 Assess physical and mental health to maintain balance
15:07 Build better rest habits to improve focus and productivity
16:28 Encouragement for the new year and ways to connect
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I explore the practical side of building and maintaining client relationships as a partner in Big Law. I discuss why a structured approach to business development is crucial and how a simple tracker can help you stay on top of key contacts, follow-ups, and next steps. I share actionable advice on how to confidently ask clients for work and how to keep relationships vibrant and productive, even with long-standing contacts or those you haven’t reached out to in a while.
At a Glance:
0:00 Introduction: Recap of last episode and today’s focus on tracking client outreach and asking for work
2:14 The importance of regular follow-ups and tailoring outreach frequency
3:26 Why business development often fails: The need for a structured tracker
6:01 Personalizing follow-ups: Adding shared interests to strengthen connections
8:15 Reconnecting with dormant contacts: Tips for restarting relationships effectively
9:16 Following up on RFPs: How to stay proactive without seeming desperate
11:14 Scheduling regular tracker reviews to refine your outreach strategy
14:15 Asking clients directly for work: Building confidence and structuring the conversation
17:20 Aligning with client needs: Honest discussions about opportunities and adjustments
18:23 Closing thoughts: Sustaining relationships and preview of next steps in client development
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
Download tracker here: Sample Business Development Tracker.pdf
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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Zijn er afleveringen die ontbreken?
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In today’s episode, I discuss the practical steps and strategies for new Big Law partners to successfully develop their own clients. From creating a concise and compelling personal brand to cultivating meaningful professional relationships, I share actionable advice for building visibility both inside and outside the firm.
Additionally, I address how to approach cross-marketing opportunities, foster client trust through long-term engagement, and manage outreach efforts strategically. These insights will help you not only grow your practice but also shape a fulfilling and sustainable career in Big Law.
At a Glance:
0:00 Introduction to today’s topic: Developing your own clients as a new partner
1:20 Why client origination matters for control and career satisfaction
3:00 Creating a defined personal brand in 2-3 sentences
6:52 How to expand your brand and convey unique strengths
7:12 Building visibility inside your firm: Tactics for reintroducing yourself
9:10 Success through cross-marketing and collaboration with other practice groups
10:40 The importance of relationships over transactions in client development
13:28 How authentic connections and shared interests strengthen networks
14:13 Finding opportunities outside traditional legal circles
16:16 Managing follow-ups: Frequency, tiers of outreach, and knowing when to scale back
18:15 Why long-term flexibility in relationships matters
19:08 Preview of next episode: Tracking client development progress
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I delve into essential strategies for lawyers stepping into a partnership role in large law firms. From building a book of business and managing the financial responsibilities of partnership to fostering internal and external relationships, I provide actionable advice to help you thrive in your new role. Whether you're navigating client origination, financial metrics, or internal dynamics, this episode is packed with practical steps and insights to set you up for long-term success.
At a Glance:
00:00 - Introduction to Big Law Life and navigating the challenges of becoming a new partner in Big Law
01:20 - Congratulations on becoming a partner; now what?
01:38 - The importance of building your own client base early in your partnership
03:39 - Gaining control of your work early on in your partnership
04:30 - Learning the financial metrics that firms evaluate for partner success
05:54 - Tips for understanding and improving realization rates and billing processes
07:10 - Navigating varying expectations for junior versus senior partners
08:36 - Personal financial planning as a new partner, including tax considerations
09:44 - Preparing for irregular income and potential capital contributions
10:30 - The importance of internal relationship-building within the partnership
11:28 - How to craft a personal brand and elevator pitch as a new partner
12:21 - Asking and seeking to understand the value your fellow partners bring to the firm
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I tackle the critical steps associates in large law firms should take to close out the year effectively. From navigating mandatory trainings and pro bono commitments to planning for professional growth in the upcoming year, I provide specific, actionable advice to ensure you finish the year strong and position yourself for success in the months ahead. I also discuss the nuances of firm culture, from handling leave requests during the holiday season to expressing gratitude to colleagues and supervisors in ways that strengthen relationships.
At a Glance:
00:00 - Introduction to Big Law Life and why year-end is a pivotal time for associates in Big Law
00:20 - The importance of meeting billable hour goals and mandatory requirements
01:45 - Strategies to complete overlooked tasks like trainings and pro bono work
02:40 - How to approach holiday leave requests and ensure smooth coordination
04:23 - Staying accessible during holidays and managing team expectations
05:17 - Recognizing and appreciating colleagues and supervisors at year-end
07:10 - Personalized client outreach: Going beyond standard holiday cards
07:30 - Planning for conferences, training, and firm-approved growth opportunities
08:12 - Turning feedback into actionable career development plans
10:12 - Advocating for opportunities: Avoiding the common pitfall of waiting
11:39 - Setting goals and creating a tracker for accountability in the new year
13:18 - Closing the year with momentum and preparing for a fresh start
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I discuss critical mindset shifts necessary for transitioning into a partnership role at a large law firm. I cover everything from securing and justifying business development budgets, to managing challenging relationships with fellow partners, and re-evaluating your career trajectory as you establish yourself in this demanding role. Drawing from personal insights and coaching experiences, I provide actionable strategies for navigating these challenges and achieving long-term success as a partner.
At a Glance:
00:00 Introduction to Big Law Life and today’s episode
00:20 Celebrating the milestone of making partner
01:10 The crucial mindset shift from associate to partner
02:30 How to approach business development funding as a new partner
05:00 Maximizing ROI on firm-sponsored travel and conferences
07:15 Understanding firm protocols for budget allocations
08:40 Balancing conflicts with fellow partners
11:30 Managing your practice and pivoting when necessary
15:00 The ongoing pressures of business development as a partner
16:30 Final advice on maintaining adaptability as a partner
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In this episode, I delve into the challenges lawyers encounter when their firms go through mergers. Drawing from my experience as an equity partner in global firms, I discuss the often-overlooked aspects of these transitions, such as managing new technology systems, navigating office relocations, embracing new branding, and adapting to shifts in leadership.
I also touch on the practical steps lawyers can take to protect client relationships, manage origination credits, and align with the evolving firm culture. My goal in this episode is to give you actionable strategies for staying ahead and safeguarding your career when major changes come your way.
At a Glance:
00:00 - Introduction to today’s episode
01:20 - Overview of recent law firm mergers and their impact on market power
02:14 - Initial changes post-merger: technology, office location, branding, and leadership shifts
04:16 - Navigating new office space dynamics and hot desking
05:03 - Challenges with firm rebranding and identity alignment
05:30 - Leadership restructuring and its implications for legal teams
06:12 - The importance of assessing fit within the newly merged culture
07:24 - Evaluating potential downsizing in business and legal operations roles
09:02 - Staying informed through firm meetings and assessing post-merger shifts
09:55 - Managing client conflicts and ethical considerations during mergers
11:01 - Risks and considerations for equity partners under new firm structures
12:43 - Complexities of multinational firm mergers and compensation variances
14:29 - Opportunities for career growth and new business in merged firms
15:04 - Building connections with new colleagues and collaborating effectively
16:17 - Retaining origination credit and client relationship management
18:12 - Client insights into new colleagues: building trusted alliances
19:02 - Proactive strategies for adapting to the evolving firm landscape
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I’m diving into the essential questions lawyers in large law firms should be asking their clients to strengthen relationships, retain business, and gain a deeper understanding of client expectations. I’ll share how law firms often miss out on valuable client feedback and provide a practical roadmap to get candid insights on everything from hiring processes to building meaningful connections and staying competitive in the legal landscape. Through specific examples, I’ll guide you on how to position yourself as a trusted advisor and invaluable partner to your clients.
At a Glance:
00:00 - Introduction to today’s episode
01:20 - Insights from a recent conference on client-centric practices
02:08 - Understanding a client’s process for selecting outside counsel
03:11 - How assumptions about client selection can harm relationships
04:12 - Exploring various bidding processes in client hiring
05:17 - Importance of postmortem discussions, whether hired or not
06:28 - Address the fear of client feedback as a growth tool
07:13 - Bring in business professionals to gather client feedback
08:18 - Frame questions to learn about competitors constructively
09:17 - Essential factors beyond legal skills clients look for
10:21 - Be prepared for potential negative client feedback
11:07 - Recognize specific client needs that may exclude certain firms
11:30 - Final thoughts on feedback as a tool for improving client relationships
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I dive into the significant trends and challenges shaping big law as we approach the end of 2024. Joining me is Andrew Maloney, a journalist at The American Lawyer who covers the economics and industry shifts impacting our profession.
We discuss the rise of business-minded strategies within law firms, focusing on key topics like partner compensation trends, mergers, and the evolution of firm culture. Andrew shares his insights on how these developments are changing the landscape and what we might expect as we move into 2025. From the dynamics of cross-border mergers to the impact of non-equity tiers on firm profitability, this episode is full of valuable perspectives on what’s next in big law.
At a Glance:
0:00 - Introduction to today’s guest, Andrew Maloney
1:20 - Reflecting on the rapid changes in the legal industry in 2024
2:19 - Andrew’s path to legal journalism and focus on the business of law
8:09 - Emergence of the “business of law” and its impact on firm dynamics
12:05 - Major legal industry stories of 2024: top compensation trends and lateral moves
14:51 - Increased competition among top law firms and strategic expansions
15:52 - 2024 trends in law firm mergers and how they’re reshaping firms
19:05 - Laura’s reflections on post-merger outcomes and growth sustainability
22:44 - Case study: Chicago as an evolving legal market
26:04 - Predicting significant trends in 2025
28:09 - How upcoming elections may affect law firm talent acquisition and attrition
31:05 - New emphasis on the non-equity partner model as a profitability strategy
32:54 - Closing thoughts and a look ahead into 2025’s legal landscape
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
How to reach Andrew Maloney:
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I discuss some essential steps and common challenges that arise when attorneys in large law firms get frustrated in dealing with the business and financial side of their practices, and what their firms expect from them in that regard.
We’ll explore why some lawyers resist engaging with financial aspects of the practice, how business professionals can better support lawyers, and discuss actionable ways to foster more cohesive teamwork within the law firm.
At a Glance:
00:00 – Introduction to the episode
01:20 – Importance of collaboration between attorneys and business professionals
02:10 – How financial considerations have become critical for law firms’ success
04:04 – Why attorneys can resist engaging on business and financial considerations
07:07 – Potential impediments to business collaboration
11:15 – How assumptions around client expectations can misalign firm and client interests
13:10 – Breaking down financial and client billing requirements in a mutually beneficial way for clients and law firms
15:26 – Enhancing the collaboration of business professionals and legal professionals to assist in law firm profitability and success
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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Today’s episode focuses on business development challenges faced by both new and seasoned partners at large law firms. I provide practical strategies to help you define your unique value proposition, target effective marketing efforts, and seek client feedback.
You’ll find out how to address common pitfalls, such as spreading yourself too thin, failing to personalize follow-ups, and how to turn a past misstep into an opportunity for new business.
At a Glance:00:00 – Introduction to the episode
01:20 – Business development challenges faced by partners in large firms
02:07 – Defining unique expertise and avoiding the “jack of all trades” approach
03:23 – Finding a niche and standing out in a saturated market
05:10 – Evaluating the ROI of business development activities
06:17 – Personalizing marketing efforts and outreach for maximum impact
08:22 – Importance of follow-ups in deepening client connections
09:18 – Seeking client feedback and addressing past missteps
10:43 – Soliciting qualitative feedback beyond standard client surveys
12:19 – Evolving nature of business development for lawyers
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I am joined by Justin Ergler, a globally recognized thought leader in legal operations and legal procurement. We discuss the evolving role of business professionals in the legal industry and how value-based billing models are reshaping the traditional law firm structure.
With a global legal industry valued at $1 trillion, Justin shares his insights on alternative fee arrangements, the importance of building strong client-firm relationships, and how legal departments and law firms can optimize value while maintaining profitability. The episode offers practical advice for lawyers navigating the intersection of law and business, providing specific strategies to improve client service and communication.
At a Glance:00:00 – Introduction and Justin Ergler’s Background
00:02 – The Evolving Role of Business Professionals in Legal Operations
00:05 – The Billable Hour: Exploring Alternatives and Addressing Concerns
00:10 – Case Studies: How Alternative Fee Arrangements Work in High-Stakes Matters
00:14 – Trust and Transparency: Building Strong Client-Firm Relationships
00:17 – Communicating Rate Increases: The Importance of Tailored Approaches
00:22 – Understanding Client Needs: Business-Side Conversations with Law Firms
00:28 – The Legal Value Network: Elevating Business Practices in Law
00:36 – Closing Thoughts and How to Learn More About Legal Value Network
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
How to reach Justin Ergler:
https://www.legalvaluenetwork.com
https://www.legalvaluenetwork.com/the-board
https://www.linkedin.com/in/justinergler
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I address a critical issue that many associates in large law firms face—identifying and managing warning signs in their law firm careers before it’s too late.
I outline practical strategies to help associates understand what firms expect and how to recognize when they may be at risk, including getting ahead of the issue of low billable hours, handling situations where there is insufficient work in your office or practice group, and the dangers of poor communication and accountability.
At a Glance:00:32 – Why law firms don’t provide roadmaps for associates and the need for self-awareness
01:20 – Early warning signs when associates are on the verge of trouble
02:34 – The importance of meeting billable hours and avoiding over-reliance on non-billable work
03:38 – Responding to work opportunities during vacation when billable hours are low
04:34 – Struggling to find work? Here’s what to consider
05:15 – Feedback: Why associates should proactively seek it from partners
06:14 – The challenge of working in a slow office and potential solutions
08:11 – When your practice group is slow: Short-term vs. long-term impacts
10:00 – Seniority issues: When associates outgrow their niche and how to pivot
11:45 – Administrative issues, timekeeping, and office presence: Why they matter
14:05 – Vanishing acts: The importance of communication and accountability
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I am joined by Shauna Barnes, founding partner of the Barnes Beverage Group and former general counsel of Dogfish Head. With 15 years of legal experience in the beverage industry, Shauna shares her journey from BigLaw to in-house counsel, her pivot to founding her own firm, and how she navigated the challenges of balancing a legal career with family life. For lawyers in large law firms, Shauna’s story offers valuable lessons on how to shape a career path that aligns with personal goals and professional fulfillment.
At a Glance:00:00 – Introduction to the episode and Shauna Barnes' background
00:50 – Shauna's early career aspirations and decision to leave litigation behind
02:59 – Transition from BigLaw to Dogfish Head
05:09 – Decisions about work and personal life
10:50 – Securing the role of general counsel at Dogfish Head
15:19 – Culture at Dogfish Head and building the legal department from scratch
20:00 – Learning to manage and lead a team without formal training
28:54 – Founding Barnes Beverage Group and the transition to running her own firm
35:00 – Key challenges in running a virtual legal team and maintaining work-life balance
39:42 – Final thoughts on growth and leadership in a boutique law firm
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
How to reach Shauna Barnes
[email protected]
www.drinkslaw.comInterested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I dive into the realities of becoming a partner at a large firm. I outline the financial, managerial, and personal factors every lawyer should consider before pursuing partnership. As I explain, partnership comes with certain not-so-easy financial realities, heavy business development demands, and the need to be willing to navigate the firm dynamics and internal politics that often come with the title. If you’re a lawyer considering working towards partner, this episode offers some critical points for you to evaluate.
At a Glance:00:00: Introduction by Laura Terrell: From equity partner to executive coach
00:32: The lack of a roadmap in law school for success in large law firms
01:20: Considering partnership: What aspiring partners need to think about
02:44: Financial realities: From income partners to equity partners
05:38: Equity partners and the risks of inconsistent payments
07:18: The firm’s culture: How partnership can change dynamics and expectations
09:16: Business development expectations and the runway for growth
12:30: The workload: Managing administrative tasks, client work, and business development
14:19: Personal life and partnership: Balancing professional demands with personal priorities
15:20: Key questions to ask yourself before pursuing partnership
Rate, Review, & Follow on Apple Podcasts & SpotifyDo you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I am joined by Douglas Wood, former Big Law attorney and author of 11 books, including From Dawn to Dusk: How to Build a Multimillion Dollar Law Practice and Then Give It Away.
We dive into the often-ignored topic of succession planning for attorneys nearing retirement in large law firms. Doug shares his own experience transitioning out of a big law career, mentoring younger attorneys, and how firms can better manage the departure of senior partners. We also discuss the importance of delegation, mentorship, and planning for retirement from both the attorney’s and the firm's perspective.
At a Glance:00:00: Introduction to the episode and guest, Douglas Wood
01:20: Transitioning out of law practice and the significance of succession planning in Big Law
03:20: Doug's career path, from small firms to becoming a partner at Reed Smith
04:50: Retirement planning in large firms and the lack of formal transition processes
06:54: Why law firms avoid discussions about partner transitions
09:00: Mentoring younger attorneys and the rewards of delegating client relationships
11:00: Addressing the risks of delegation and the misconception that clients will leave
13:15: Building a transition plan that benefits the firm, the transitioning attorney, and the younger lawyers
17:03: Balancing client demands, billable hours, and mentoring—debunking the "too busy" excuse
21:10: The generational gap and its impact on mentorship in the legal profession
24:00: The lack of formal programs for senior lawyers and why law firms should view them as assets
30:00: Doug discusses his novel writing and upcoming projects
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
How to reach Doug Wood
[email protected]
https://dawntodusk.wood.law/LinkedIn: https://www.linkedin.com/in/djwood1976
Facebook: https://www.facebook.com/profile.php?id=61562791655439
Amazon: From Dawn to Dusk: How to Build a Multimillion Dollar Law Practice and Then Give It Away: Wood, Douglas J.: 9798985856460: Amazon.com: Books
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I am joined by Lisa Smith, a founding Principal of Fairfax Associates and head of the Washington office. She is a leading consultant to law firms and advises firms in the U.S. and globally. We delve into the intricacies of partner compensation, profitability strategies, and leadership transitions in large law firms.
With over 35 years of experience, Lisa shares her insights on how law firms structure compensation to retain top talent, the increasing significance of origination and profitability metrics, and how leadership approaches are evolving to meet the demands of today’s legal industry.
At a Glance:00:00: Introduction to the episode and guest, Lisa Smith, law firm consultant
02:27: Lisa’s background and how she entered law firm consulting
04:05: The evolution of compensation structures in large law firms
06:26: How firms manage high-value compensation packages and the risks involved
08:12: Balancing profitability with partner compensation: What firms are doing now
09:44: Shift in metrics from billable hours to profitability and origination
11:14: The growing importance of generating and leveraging work as a partner
14:00: Managing lateral hires: Compensation packages and cultural integration
16:12: Leadership turnover in law firms: What new leaders focus on today
19:09: Shifting leadership dynamics: Business acumen vs. book of business
22:49: Leadership pipelines and developing future law firm leaders
25:07: Evolving partnership structures: Income partners, equity paths, and retention challenges
30:09: The impact of AI and technology on legal services and client expectations
31:27: Increasing rates and their effect on firm-client relationships and firm profitability
35:04: Closing thoughts on firm growth and the changing mobility of partners
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
How to reach Lisa Smith
https://fairfaxassociates.com/our-people/lisa-smith/https://www.linkedin.com/in/lisa-smith-24a9b1a/
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcas
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In today’s episode, I am joined by Roy Strom, Big Law reporter and columnist at Bloomberg Law. Roy shares his journey into legal journalism, the complexities of reporting on the legal industry, and the unique challenges faced by large law firms in today's market.
The conversation explores the business dynamics of law firms, the influence of AI, and the evolving role of legal professionals in managing firm strategy and profitability. This episode is packed with insights for attorneys navigating their careers in large law firms, especially those interested in understanding how journalists covering the legal industry approach their subject.
At a Glance:00:00 - 00:00:51 - Introduction and overview of the episode’s focus on Big Law and media coverage
00:51 - 02:26 - Roy Strom’s background and his journey into legal journalism
02:26 - 06:19 - Roy’s early career aspirations and transition from sports journalism to legal reporting
06:19 - 08:07 - Similarities between covering the legal industry and sports
08:07 - 13:50 - How the legal market and law firms are unique in the business market
13:50 - 16:01 - How change has or hasn’t accelerated in law firms due to external pressures
16:01 - 22:01 - Shifts in compensation models and the impact on law firm culture and partner dynamics
22:01 - 25:19 - The growing divide within the legal industry and the role of business of law professionals
25:19 - 35:31 - Challenges in covering the legal industry from a journalistic perspective
35:31 - 40:21 - Current trends in legal journalism, including the focus on AI
40:21 - 42:32 - Roy Strom’s thoughts on what’s ahead for Big Law in 2024 and beyond
42:32 - 43:05 - Closing remarks and where to find more of Roy’s work
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
How to reach Roy Strom
[email protected]
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I discuss the essential strategies for lawyers in large law firms to stand out and succeed. The key areas I cover include delivering practical solutions, understanding the intersection of legal and business needs, admitting knowledge gaps, staying responsive, and maintaining a professional demeanor.
At a Glance:00:00-01:00 Introduction and overview of the episode’s focus on practical solutions for lawyers
01:00-02:02 The importance of offering practical solutions to complex problems
02:02-05:12 Understanding and integrating client business needs into legal advice
05:12-07:02 The value of admitting what you don't know and a willingness to learn
07:02-09:00 The importance of responsiveness and communication in managing client relationships
09:00-10:09 Why being a respectful and collegial lawyer matters for your reputation
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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In today’s episode, I focus on the real challenges you face as a lawyer trying to build your personal brand in a large law firm. While these firms spend a lot on marketing and business development, those efforts are usually aimed at promoting the firm, not you. I break down why this happens and what you can do about it. From making the most of LinkedIn to finding your own publishing and speaking opportunities, I offer specific steps you can take to stand out in a crowded field.
At a Glance:
00:00-01:20 Introduction and overview of the challenges in personal branding within big law
01:20-02:20 Limited support from law firms' marketing and business development departments for individual lawyers.
02:20-03:12 The impact of high turnover in law firm marketing teams post-COVID.
03:12-04:29 Why law firms focus on their brand over individual attorneys.
04:29-06:01 Comparing law firm marketing budgets with other industries and their impact on individual marketing.
06:01-07:17 The inefficacy of traditional law firm marketing channels like event sponsorships.
07:17-08:39 The underutilization of modern marketing tools like podcasting and LinkedIn in law firms.
08:39-09:45 How senior partners dominate marketing resources, leaving junior lawyers behind.
09:45-10:50 Practical steps for enhancing LinkedIn profiles and online presence.
10:50-13:13 The value of seeking external publishing and speaking opportunities.
13:13-14:48 Importance of having a concise professional pitch ready at all times.
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:www.lauraterrell.com
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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