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Recommended Reading

The 80/20 Principle
by Richard Koch


The Secret of Achieving More with Less

The 80/20 Principle-that 80 percent of results flow from just 20 percent of our efforts -is one of the great secrets of highly effective people and organizations.

One of the decade's most original, provocative, and powerful books The 80/20 Principle, shows how you can achieve much more with much less effort, time, and resources, simply by concentrating on the all-important 20 percent. Astonishingly, although the 80/20 Principle has long influenced today's world, Richard Koch is the first person to show how to use it in a systematic and practical way.

The pattern of predictable imbalance underlying the 80/20 Principle was first discovered a hundred years ago by Italian economist Vilfredo Pareto while studying income and wealth patterns. But the patter of "predictable imbalance", as he termed it, crops up throughout life. In the 80/20 Principle Koch opens our eyes to the way the principle works through a wide range of examples in business, commerce, and virtually every aspect of our lives. For example, 20 percent of products account for 80 percent of sales and profits; similarly, 20 percent of customers account for 80 percent of revenues.

By identifying and focusing on the 20 percent of our efforts that result in the huge bulk of our success, we can leverage our efforts to vastly increase our effectiveness. For we discover that little of what we do really counts. By concentrating on those things that do, we can transform our effectiveness in our jobs, our careers, our businesses, and our lives. By showing how to unlock the enormous potential of the magic 20 percent, the 80/20 Principle will revolutionize your life.

 

The First Great Myth of Legal Management is that It Exists
by H. Edward Wesemann


Tough Issues for Law Firm Managing Partners and Administrators


Among the subject covered in this book are:

  •     Firing Unprofitable Clients
  •     Ten Terrible Truths about Law Firm Strategic Planning
  •     Valuing Managers
  •     Ten Terrible Truths about Partner Compensation Systems
  •     Breaking the Wall: Six Rules to Managing the Three Million Dollar Practice and Beyond
  •     Pricing the Market
  •     The Seven Basic Laws of Successful Networking
  •     When Good Law Firms go Bad
  •     Mergers as a Marketing Tool

 

 

Managing Partner 101, Second Edition
by Lawrence G. Green


A Guide to Successful Law Firm Leadership

Written by Lawrence G. Green, formerly a longtime managing partner of a large Boston law firm, this completely updated and expanded second edition of an ABA bestseller is designed to help managing partners, lawyers, and other legal professionals understand the role and responsibilities of a law firm's managing partner. The book will shorten the learning curve for mastering successful management techniques for the new or experienced managing partner, through helpful guidelines, tips, and examples presented throughout the text. Of particular value is the author's extensive experience and discussion on the importance of leadership to the effective managing partner.



 

 

Managing the Professional Service Firm
by David H. Maister


For the first time in paperback, international expert and consultant David Maister offers a brilliant and accessible guide to every management issue at play in professional firms.

Professional firms differ from other business enterprises in two distinct ways: first, they provide highly customized services and thus cannot apply many of the management principles developed for product-based industries. Second, professional services are highly personalized, involving the skills of individuals. Such firms must therefore compete not only for clients but also for talented professionals.

Drawing on more than ten years of research and consulting to these unique and creative companies, David Maister explores issues ranging from marketing and business development to multinational strategies, human resources policies to profit improvement, strategic planning to effective leadership. While these issues can be complex, Maister simplifies them by recognizing that "every professional service firm in the world, regardless of size, specific profession, or country of operation, has the same mission statement: outstanding service to clients, satisfying careers for its people, and financial success for its owners."

(link to book at amazon.com on right)

 

The Trusted Advisor
by David H. Maister, Charles H. Green & Robert M. Galford


In today's fast-paced networked economy, professionals must work harder than ever to maintain and improve their business skills and knowledge. But technical mastery of your discipline is not enough. The authors argue that the key to professional success is the ability to earn the trust and confidence of clients. The creation of trust is what earns the right to influence clients; trust is also at the root of client satisfaction and loyalty. The workings of trust are even more critical in the new economy than in the old.

Maister, Green, & Galford enrich our understanding of trust-yet they have also written a deeply practical book. Using their model of "The Trust Equation", they dissect the rational and emotional components of trustworthiness. With precision and clarity they detail five distinct steps you must take to create a trust-based relationship. Each step- engage, listen, frame, envision, and commit-is richly described in distinct chapters. The book is peppered with pragmatic "top-ten" lists aimed at improving advisors' effectiveness that can be put to use instantly. It also includes a trust self-diagnostic in the appendix.

This immensely readable book will be welcomed by the inexperienced advisor and the most seasoned expert alike. The authors use anecdotes, experiences, and examples- successes and mistakes, their own and others' - to great effect. Though they use the professional services advisor/client paradigm throughout the book, their prescriptions have resonance for other trust-reliance situations- selling, customer relationship management, and internal staff functions like HR and information technology.

The result is a tour de force-brilliant, penetrating, unique. It is essential reading for anyone who must advise, negotiate, or manage complex relationships with others.



 

Paralegals, Profitability and the Future of Your Law Practice
by Arthur G. Greene & Therese A. Cannon


Firms that succeed in the years ahead will be those that can make fundamental changes to the services they offer and their methods of practice. Paralegals have provided advantages in the past that can be easily incorporated into these new methods.

This book provides valuable advice on how to use paralegals to achieve unparalleled success in providing clients with quality service. You?ll learn how to create a paralegal model for use in your firm, how to recruit and hire top-notch paralegals, how to run an effective program, what ethical issues to be aware of when working with paralegals, and much more. Plus, essential forms and job descriptions contained in the appendix are included in the accompanying CD-ROM for easy customization!

(link to book at amazon.com on right)

 

Compensation Plans for Law Firms
by James D. Cotterman, Altman Weil, Inc.


In this revised fourth edition, you'll find complete and systematic guidance on how to establish workable plans for compensating partners and associates as well as other contributors to the firm, including paralegals, clerical staff, and other professional staff members. You'll learn how to align your firm's compensation plans with your culture, business objectives, and market realities. The book also explores the long term shift away from single-employer careers and worker mobility, and how your firm can take advantage of this trend.

Other key concepts such as value billing, tiered ownership, and deferred compensation are also considered.

(link to book at amazon.com on right)

 

Creating Rainmakers
by Ford Harding


The ultimate managers guide to training professionals to attract new clients.

As every manager of a professional firm realizes, generating leads and landing new clients is one of the most critical operations of a successful venture, and everybody needs to learn how to do it well. But transforming accountants, architects, attorneys, consultants, engineers and other professionals into client generators is not always easy to do.

Creating Rainmakers outlines all the necessary steps you need to turn your professional staff into successful rainmakers who can really drum up business. It shows you how to:

    Generate leads through several different strategies, including cold calling, publicity, speaking engagements, and others
    Build a strong network of contacts through established clients and new associations
    Master a variety of sales techniques, including listening, value-based selling, and anecdotal selling

Based on over a hundred interviews with principals in professional firms, including many of today's preeminent rainmakers, Creating Rainmakers shows you how to turn your professional staff into a powerful team of sales winners.

(link to book at amazon.com on right)

 

The E-Myth Physician
by Michael E. Gerber


Why most medical practices don't work and what to do about it.

The author focuses on the business of being a physician (or attorney or engineer or architect, etc.) rather than the work of it. He reveals a radical mindset that will free professionals from the tyranny of the unprofitable, unproductive, perpetual routine.
The E-Myth Physician will teach you how to:

    Implement the ingenious turn-key system, a means of creating a business model that produces consistent, predictable results
    Recognize, understand, and manage the four factors of money-income, profit, flow, and equity-and understand the impact of each on your practice
    Transform your practice and your people while enabling your business to grow exponentially without you having to be there all the time

Drawing on more than thirty years of experience working with tens of thousands of small business owners, Gerber provides revolutionary, practical and enlightening insights on how to produce the best real-world results not only in a professional's practice, but, even more important, in a professional's life.

E-Myth - n 1) the entrepreneurial myth: the myth that most people who start small businesses are entrepreneurs 2) the fatal assumption that an individual who understands the technical work of a business can successfully run a business that does that technical work

(link to book at amazon.com on right)

 

The Lawyer's Guide
by Sarina A. Butler & Richard G. Paszkiet, Editors


If you are considering buying, selling, closing, or merging a law practice, this book is a valuable resource for information on things to consider before and during the process.

The guide covers the following issues:

    The advantages of buying and selling a law practice
    The ethical aspects of acquiring a law practice
    Valuation of a law firm
    Tax consequences of "retiring" a partner's interest in a law firm taxed as a partnership
    Merging law firms
    Selling a niche practice
    Business responsibilities in closing a law practice
    The ethical aspects of winding down a law practice
    File preservation
    Ending client and employee relationships

The guide includes handy checklists, forms, sample agreements, and sample letters as well as a copy of the ABA's Model Rules of Professional Conduct.
 

 

 

The Tipping Point
by Malcolm Gladwell


The Tipping Point is that magic moment when an idea, trend, or social behavior crosses a threshold, tips, and spreads like wildfire. Just a single sick person can start an epidemic of the flu, so too can a small but precisely targeted push cause a fashion trend, the popularity of a new product, or a drop in the crime rate. This widely acclaimed best-seller in which Malcolm Gladwell explores and brilliantly illuminates the tipping point phenomenon, is already changing the way people throughout the world think about selling products and disseminating ideas.
Mastertips
 



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