Where do lawyers get the necessary business skills? When do they learn about the realities of the legal market, about the commoditization of legal services and LPOs?
The challenge is that lawyers have traditionally not thought of management as important. ‘Transition’ courses are a good idea as they come at a time when a lawyer is more likely to understand that new skills are needed. For example, senior associates on the verge of becoming (junior) partners benefit from project and knowledge management, marketing and business development. Partners who are to be promoted to head a practice or regional office benefit from more project management in addition to leadership courses. While junior to mid-level associates benefit from courses on business and finance fundamentals, as well as project management. At some point in their careers, lawyers should have touched all areas of managerial challenges and approaches necessary for success—including finance and law firm economics, marketing and business development, knowledge management and project management, leading and developing people. Read my article in the The Global Legal Post.