Wednesday, March 23, 2016

"I'M IN NO RUSH" - Exploring the Legal Marketplace

"I'M IN NO RUSH" - Exploring the Legal Marketplace

“I’m In No Rush”,  I don’t have to leave my position”…. so states my attorney candidate while meeting with my law firm client about opportunities with that firm.  It always puzzles me – why the coyness- and why make that statement anyway to someone you have just begun to professionally “date”??

Would one say that on a personal first date?  That doesn’t bode well for a possible new relationship, either personally or professionally.  The process has its own timing - typically not the Partner’s or the prospective firm’s – it must be allowed to run its own course.

Here are my four top guidelines during interviews for Partner and Counsels….

1.       Be interested, and let the firm know you are interested in the opportunity - you do not have any decisions to make until an offer is presented.  The fact you are exploring other situations doesn’t mean disloyalty to your present firm – but loyalty to your clients and your own career path.

2.       Don’t be too reserved or hesitant… to sell yourself and your practice.  The economy has rebounded nicely and attorney demand is higher than ever before. You have a duty to yourself and your to clients to secure the best platform available for your practice.

3.       Know your numbers:  Most firms will require you to provide the past three years of orginations, billings, hourly rates and compensation – and will ask for your expected originations. Drafting  a business plan for your practice is always a good exercise – whether or not you actually make a move to another firm, a business plan is a valuable tool in managing your growth strategy.

4.       Free Agents:  Partners are more like “free agents” today and those with portable practices and abilities to originate business need to be more independent; by independent I mean able to identify their practice and clientele’s needs and continually research and explore alternative platforms that can better serve current clients and provide opportunity for future business development.

If you are not thriving in your current situation, contact me, and together we will analyze your practice, forecast your needs and review your options. If moving to another firm is in your best interest,  my thorough understanding of today’s  market for legal talent along with my extensive network will help position you for success as you take  the next critical step in your career.

 - Michael