INQUIRY: I am a partner in a law firm and my practice area is within the core of the firm's practice. Should I consider moving to another law firm in which my practice is outside of its core practice areas, but has a synergy with these practice areas for business development?
RESPONSE:
Consider whether or not your firm is inhibiting the growth of your practice in the following ways:
- you and your partners are not actually on the same team, but are competitors for the same business
- you are often prohibited from accepting new clients due to conflicts of interest
- your billing rates are impacted by the rates charged by other members of the firm
- there is no market strategy to enhance your business
- you lack a sense of individuality and feel you are merely a cog in the vast machinery of a firm in which you lack sufficient standing
If you feel that any of these situations apply to you, then you might be better served in a firm where you have a leadership role within your practice area, where you provide a component that is different yet compatible with the firm's other practices, and where a strategy can be developed to market and cross-market your services.
Written by Lawrence D. Dicker, Founder and National Managing Director of The Knight Consulting Group Ltd.
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