By Laura Terrell
4.8
2323 ratings
The podcast currently has 47 episodes available.
In this episode, I delve into the challenges lawyers encounter when their firms go through mergers. Drawing from my experience as an equity partner in global firms, I discuss the often-overlooked aspects of these transitions, such as managing new technology systems, navigating office relocations, embracing new branding, and adapting to shifts in leadership.
I also touch on the practical steps lawyers can take to protect client relationships, manage origination credits, and align with the evolving firm culture. My goal in this episode is to give you actionable strategies for staying ahead and safeguarding your career when major changes come your way.
At a Glance:
00:00 - Introduction to today’s episode
01:20 - Overview of recent law firm mergers and their impact on market power
02:14 - Initial changes post-merger: technology, office location, branding, and leadership shifts
04:16 - Navigating new office space dynamics and hot desking
05:03 - Challenges with firm rebranding and identity alignment
05:30 - Leadership restructuring and its implications for legal teams
06:12 - The importance of assessing fit within the newly merged culture
07:24 - Evaluating potential downsizing in business and legal operations roles
09:02 - Staying informed through firm meetings and assessing post-merger shifts
09:55 - Managing client conflicts and ethical considerations during mergers
11:01 - Risks and considerations for equity partners under new firm structures
12:43 - Complexities of multinational firm mergers and compensation variances
14:29 - Opportunities for career growth and new business in merged firms
15:04 - Building connections with new colleagues and collaborating effectively
16:17 - Retaining origination credit and client relationship management
18:12 - Client insights into new colleagues: building trusted alliances
19:02 - Proactive strategies for adapting to the evolving firm landscape
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Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
[email protected]
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
In today’s episode, I’m diving into the essential questions lawyers in large law firms should be asking their clients to strengthen relationships, retain business, and gain a deeper understanding of client expectations. I’ll share how law firms often miss out on valuable client feedback and provide a practical roadmap to get candid insights on everything from hiring processes to building meaningful connections and staying competitive in the legal landscape. Through specific examples, I’ll guide you on how to position yourself as a trusted advisor and invaluable partner to your clients.
At a Glance:
00:00 - Introduction to today’s episode
01:20 - Insights from a recent conference on client-centric practices
02:08 - Understanding a client’s process for selecting outside counsel
03:11 - How assumptions about client selection can harm relationships
04:12 - Exploring various bidding processes in client hiring
05:17 - Importance of postmortem discussions, whether hired or not
06:28 - Address the fear of client feedback as a growth tool
07:13 - Bring in business professionals to gather client feedback
08:18 - Frame questions to learn about competitors constructively
09:17 - Essential factors beyond legal skills clients look for
10:21 - Be prepared for potential negative client feedback
11:07 - Recognize specific client needs that may exclude certain firms
11:30 - Final thoughts on feedback as a tool for improving client relationships
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
[email protected]
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
In today’s episode, I dive into the significant trends and challenges shaping big law as we approach the end of 2024. Joining me is Andrew Maloney, a journalist at The American Lawyer who covers the economics and industry shifts impacting our profession.
We discuss the rise of business-minded strategies within law firms, focusing on key topics like partner compensation trends, mergers, and the evolution of firm culture. Andrew shares his insights on how these developments are changing the landscape and what we might expect as we move into 2025. From the dynamics of cross-border mergers to the impact of non-equity tiers on firm profitability, this episode is full of valuable perspectives on what’s next in big law.
At a Glance:
0:00 - Introduction to today’s guest, Andrew Maloney
1:20 - Reflecting on the rapid changes in the legal industry in 2024
2:19 - Andrew’s path to legal journalism and focus on the business of law
8:09 - Emergence of the “business of law” and its impact on firm dynamics
12:05 - Major legal industry stories of 2024: top compensation trends and lateral moves
14:51 - Increased competition among top law firms and strategic expansions
15:52 - 2024 trends in law firm mergers and how they’re reshaping firms
19:05 - Laura’s reflections on post-merger outcomes and growth sustainability
22:44 - Case study: Chicago as an evolving legal market
26:04 - Predicting significant trends in 2025
28:09 - How upcoming elections may affect law firm talent acquisition and attrition
31:05 - New emphasis on the non-equity partner model as a profitability strategy
32:54 - Closing thoughts and a look ahead into 2025’s legal landscape
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
How to reach Andrew Maloney:
[email protected]
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
[email protected]
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
In today’s episode, I discuss some essential steps and common challenges that arise when attorneys in large law firms get frustrated in dealing with the business and financial side of their practices, and what their firms expect from them in that regard.
We’ll explore why some lawyers resist engaging with financial aspects of the practice, how business professionals can better support lawyers, and discuss actionable ways to foster more cohesive teamwork within the law firm.
At a Glance:
00:00 – Introduction to the episode
01:20 – Importance of collaboration between attorneys and business professionals
02:10 – How financial considerations have become critical for law firms’ success
04:04 – Why attorneys can resist engaging on business and financial considerations
07:07 – Potential impediments to business collaboration
11:15 – How assumptions around client expectations can misalign firm and client interests
13:10 – Breaking down financial and client billing requirements in a mutually beneficial way for clients and law firms
15:26 – Enhancing the collaboration of business professionals and legal professionals to assist in law firm profitability and success
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
[email protected]
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
Today’s episode focuses on business development challenges faced by both new and seasoned partners at large law firms. I provide practical strategies to help you define your unique value proposition, target effective marketing efforts, and seek client feedback.
You’ll find out how to address common pitfalls, such as spreading yourself too thin, failing to personalize follow-ups, and how to turn a past misstep into an opportunity for new business. At a Glance:
00:00 – Introduction to the episode
01:20 – Business development challenges faced by partners in large firms
02:07 – Defining unique expertise and avoiding the “jack of all trades” approach
03:23 – Finding a niche and standing out in a saturated market
05:10 – Evaluating the ROI of business development activities
06:17 – Personalizing marketing efforts and outreach for maximum impact
08:22 – Importance of follow-ups in deepening client connections
09:18 – Seeking client feedback and addressing past missteps
10:43 – Soliciting qualitative feedback beyond standard client surveys
12:19 – Evolving nature of business development for lawyers
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
[email protected]
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
In today’s episode, I am joined by Justin Ergler, a globally recognized thought leader in legal operations and legal procurement. We discuss the evolving role of business professionals in the legal industry and how value-based billing models are reshaping the traditional law firm structure.
With a global legal industry valued at $1 trillion, Justin shares his insights on alternative fee arrangements, the importance of building strong client-firm relationships, and how legal departments and law firms can optimize value while maintaining profitability. The episode offers practical advice for lawyers navigating the intersection of law and business, providing specific strategies to improve client service and communication. At a Glance:
00:00 – Introduction and Justin Ergler’s Background
00:02 – The Evolving Role of Business Professionals in Legal Operations
00:05 – The Billable Hour: Exploring Alternatives and Addressing Concerns
00:10 – Case Studies: How Alternative Fee Arrangements Work in High-Stakes Matters
00:14 – Trust and Transparency: Building Strong Client-Firm Relationships
00:17 – Communicating Rate Increases: The Importance of Tailored Approaches
00:22 – Understanding Client Needs: Business-Side Conversations with Law Firms
00:28 – The Legal Value Network: Elevating Business Practices in Law
00:36 – Closing Thoughts and How to Learn More About Legal Value Network
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
How to reach Justin Ergler:
[email protected]
https://www.legalvaluenetwork.com
https://www.legalvaluenetwork.com/the-board
https://www.linkedin.com/in/justinergler
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
[email protected]
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
In today’s episode, I address a critical issue that many associates in large law firms face—identifying and managing warning signs in their law firm careers before it’s too late.
I outline practical strategies to help associates understand what firms expect and how to recognize when they may be at risk, including getting ahead of the issue of low billable hours, handling situations where there is insufficient work in your office or practice group, and the dangers of poor communication and accountability.
At a Glance:
00:32 – Why law firms don’t provide roadmaps for associates and the need for self-awareness
01:20 – Early warning signs when associates are on the verge of trouble
02:34 – The importance of meeting billable hours and avoiding over-reliance on non-billable work
03:38 – Responding to work opportunities during vacation when billable hours are low
04:34 – Struggling to find work? Here’s what to consider
05:15 – Feedback: Why associates should proactively seek it from partners
06:14 – The challenge of working in a slow office and potential solutions
08:11 – When your practice group is slow: Short-term vs. long-term impacts
10:00 – Seniority issues: When associates outgrow their niche and how to pivot
11:45 – Administrative issues, timekeeping, and office presence: Why they matter
14:05 – Vanishing acts: The importance of communication and accountability
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
[email protected]
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
In today’s episode, I am joined by Shauna Barnes, founding partner of the Barnes Beverage Group and former general counsel of Dogfish Head. With 15 years of legal experience in the beverage industry, Shauna shares her journey from BigLaw to in-house counsel, her pivot to founding her own firm, and how she navigated the challenges of balancing a legal career with family life. For lawyers in large law firms, Shauna’s story offers valuable lessons on how to shape a career path that aligns with personal goals and professional fulfillment.
At a Glance:
00:00 – Introduction to the episode and Shauna Barnes' background
00:50 – Shauna's early career aspirations and decision to leave litigation behind
02:59 – Transition from BigLaw to Dogfish Head
05:09 – Decisions about work and personal life
10:50 – Securing the role of general counsel at Dogfish Head
15:19 – Culture at Dogfish Head and building the legal department from scratch
20:00 – Learning to manage and lead a team without formal training
28:54 – Founding Barnes Beverage Group and the transition to running her own firm
35:00 – Key challenges in running a virtual legal team and maintaining work-life balance
39:42 – Final thoughts on growth and leadership in a boutique law firm
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
How to reach Shauna Barnes
[email protected] www.drinkslaw.com
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
[email protected]
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
In today’s episode, I dive into the realities of becoming a partner at a large firm. I outline the financial, managerial, and personal factors every lawyer should consider before pursuing partnership. As I explain, partnership comes with certain not-so-easy financial realities, heavy business development demands, and the need to be willing to navigate the firm dynamics and internal politics that often come with the title. If you’re a lawyer considering working towards partner, this episode offers some critical points for you to evaluate.
At a Glance:
00:00: Introduction by Laura Terrell: From equity partner to executive coach
00:32: The lack of a roadmap in law school for success in large law firms
01:20: Considering partnership: What aspiring partners need to think about
02:44: Financial realities: From income partners to equity partners
05:38: Equity partners and the risks of inconsistent payments
07:18: The firm’s culture: How partnership can change dynamics and expectations
09:16: Business development expectations and the runway for growth
12:30: The workload: Managing administrative tasks, client work, and business development
14:19: Personal life and partnership: Balancing professional demands with personal priorities
15:20: Key questions to ask yourself before pursuing partnership
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
[email protected]
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
In today’s episode, I am joined by Douglas Wood, former Big Law attorney and author of 11 books, including From Dawn to Dusk: How to Build a Multimillion Dollar Law Practice and Then Give It Away.
We dive into the often-ignored topic of succession planning for attorneys nearing retirement in large law firms. Doug shares his own experience transitioning out of a big law career, mentoring younger attorneys, and how firms can better manage the departure of senior partners. We also discuss the importance of delegation, mentorship, and planning for retirement from both the attorney’s and the firm's perspective.
At a Glance:
00:00: Introduction to the episode and guest, Douglas Wood
01:20: Transitioning out of law practice and the significance of succession planning in Big Law
03:20: Doug's career path, from small firms to becoming a partner at Reed Smith
04:50: Retirement planning in large firms and the lack of formal transition processes
06:54: Why law firms avoid discussions about partner transitions
09:00: Mentoring younger attorneys and the rewards of delegating client relationships
11:00: Addressing the risks of delegation and the misconception that clients will leave
13:15: Building a transition plan that benefits the firm, the transitioning attorney, and the younger lawyers
17:03: Balancing client demands, billable hours, and mentoring—debunking the "too busy" excuse
21:10: The generational gap and its impact on mentorship in the legal profession
24:00: The lack of formal programs for senior lawyers and why law firms should view them as assets
30:00: Doug discusses his novel writing and upcoming projects
Rate, Review, & Follow on Apple Podcasts & Spotify
Do you enjoy listening to Big Law Life? Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.
For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!
For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.
How to reach Doug Wood [email protected] https://dawntodusk.wood.law/
LinkedIn: https://www.linkedin.com/in/djwood1976
Facebook: https://www.facebook.com/profile.php?id=61562791655439
Amazon: From Dawn to Dusk: How to Build a Multimillion Dollar Law Practice and Then Give It Away: Wood, Douglas J.: 9798985856460: Amazon.com: Books
Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her:
www.lauraterrell.com
[email protected]
LinkedIn: https://www.linkedin.com/in/lauralterrell/
Instagram: https://www.instagram.com/lauraterrellcoaching/
Show notes: https://www.lauraterrell.com/podcast
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