The topic of transition planning is not the most enjoyable or easy topic around law firms. But it is critical, especially with a significant number of equity partners set to retire over the next decade. So why is transition planning so difficult for law firms?
The list of challenges to transition planning is a long one. Our eBook “Is It Possible to Transition a Small Law Firm” highlights 12 of the most significant ones we have found in working with small and mid-sized law firms. Some of these obstacles include:
- Compensation Issues
- Poor Firm Profitability
- Inadequate Time
- Greed and Selfishness
- Client Reluctance
- + 8 more obstacles
PerformLaw is a management consultancy based in New Orleans, LA. PeformLaw regularly assists law firm clients with transition planning, marketing and business development, contracted business services, compensation, lateral vetting, performance and process improvements, and practice planning. For a complete list of services and helpful resources, please visit performlaw.com.