Performlaw Blogs

Brian Kennel

Recent Posts

4 Characteristics of a Weak Law Firm Compensation System

Posted by: Brian Kennel on January 24

Firms struggling with compensation decisions often lack a process that ensures consistency, fairness, and transparency. While subjective compensation systems are most problematic, poorly designed and administrated objective systems are just as troubling. Compensation systems that fail to reward profitable practice habits are ineffective, can lead to defections, and result in poor performance.

 

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6 Characteristics of a Weak Marketing Culture

Posted by: Brian Kennel on January 15

To survive in today’s increasingly competitive marketplace, law firms must promote a robust marketing culture. In the most successful firms, marketing is part of their very makeup of the firm and is embedded in the firm’s systems, processes, and incentives.

 

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Divvying Up the Fee Dollar: Building a Firm Economic Model

Posted by: Brian Kennel on April 6

Law firms that understand their economics are more likely to capture and maintain an edge in today’s highly competitive legal market. Optimizing their economic model, or tethering it to the market, achieves even greater stability and larger profits for the firm.  If you don’t have an operating model and want to develop one or want to improve your current model, here is how.

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Billing Attorney Origination Credit Essentials

Posted by: Brian Kennel on April 1

 

When several attorneys are responsible for handling a particular client's work, determining the amount of credit to share can be a tricky process. This is because  most law firms have a particular way of categorizing attorney efforts within a client relationship. A typical client account may be organized around an Originating Attorney, Billing Attorney, and Working Attorney.

 

Originating attorneys are typically responsible for developing the client relationship and mostly responsible for ensuring the client remains happy.

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Maintaining a Competitive Law Firm

Posted by: Brian Kennel on January 17

 

 

We have seen countless examples of firms who believe they can operate independently of the market. Maybe some can, but mostly, once a firm loses its edge, it is nearly impossible to get it back. Firm’s who lose their ability to compete often struggle to recognize they are failing. Without an objective process for measuring performance, a firm can fall into a cycle of poor decision making on emotion and insufficient information.   

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Admitting New Law Firm Partners

Posted by: Brian Kennel on January 2

 

A sound process for admitting current partners and laterals

 

Admitting new partners at the right level can be a challenge to law firms. This is especially true for first-generation firms. Whether a new partner is being promoted from their current ranks or a lateral partner is being hired from another firm, placing a new partner at the right level is much easier if compensation does not depend on equity share. Partner placements are also less complicated when a firm has a process for routinely adjusting ownership.

 

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