There is an old story about a young man who, after finally meeting the love of his life following years searching the globe for his one true soulmate, took his girlfriend’s hands in his own one starlit summer evening, stared deeply into her beautiful eyes, and whispered to her in a husky, excited voice: “since I met you, I can’t eat. I can’t drink. I can’t sleep… I’m completely broke.”
An important element of a law firm’s culture is the manner in which it designates ‘client lawyer’ status, or ‘client origination credits’ (“OCs”).
By way of background, there are three ways to earn money in a law firm.
Those of my era may remember the comic book character known as “Richie Rich.” Nice little kid, but being brought up by wealthy parents, he was not on the same wavelength as some of his friends.
My friend Stan had a law partner who was kind of like a wannabe Richie Rich. He wasn’t rich yet, but by God he planned to be!
I was pushing my wife’s buttons the other day when she shoved back and explained, “I am diligently guarding my own sanity.” I replied, “you may be guarding it, but I think that it has escaped.”
The rest of the argument did not go well for me.
Trust is the glue of life. It’s the most essential ingredient in effective communication. It’s the foundational principle that holds all relationships.
~ Stephen Covey
A Canadian grocery chain has just announced that it will launch a new brand to sell low-priced groceries in Canada. Their announcement is being greeted with great skepticism. The reason? Canadians do not trust them. It could be because we just do not buy it when their CEO says that their increased profits have nothing to do with their increased prices.
Last week I was at the Barnstable County Fair in Cape Cod. At the midway, there was a game called “Dunk the Clown.” Let me describe it for you.
A clown sat on a ledge over a tank of water. People paid a few dollars and received three baseballs to throw at two large buttons on the walls adjacent to the clown. If a button were hit, the clown would fall into the water.
I spoke to two law firm partners this week, both of whom told me that their hourly expectation was 2,400 hours per year, consisting of 2,000 billable hours and 400 non-billable hours (administration, firm events, continuing education, business promotion, and mentoring).
I set about to do some math and determine how many hours these people have to spend on their mental and physical health and personal relationships. The law firms are all advertising their mental health initiatives, so I knew that it would be substantial!
“Culture eats strategy for breakfast.”
Peter Drucker
Back when I was a Managing Partner in a law firm, I did not think nearly enough about law firm culture. I really should have, but not only because it is the secret to business success. No, I should have thought more about firm culture because it is a crucial factor in whether or not lawyers are happy in their jobs, and as we all know, many of them are not very happy.
The image that accompanies this post is of a massive tree in the forest behind my house which came down in a storm, bringing down another tree, which brought down a third. As you can see, the root system was wide, but shallow.
These trees might have looked majestic, but when force was applied, their roots proved to be too weak to hold up their weight.
The worst partners meeting that I ever attended ended with me storming out, telling one of my partners to fuddle-duddle off (not in those exact words), and threatening to leave the firm. I was the managing partner and highest earning partner at the time. You would think that I should have been happy.