Big Law Life

Profitability is a word that makes many lawyers cringe. We know firms measure it, but the methods and metrics often feel murky—or worse, toxic to firm culture. Still, ignoring profitability is not an option if you want to succeed and thrive in BigLaw. In this episode, I break down what profitability really means inside large firms, why it’s far more than just gross billings, and how to take control of the numbers that impact your compensation, partnership prospects, and long-term career.  From cost structures and volume to realization and collections, I share how firms evaluate lawyers and practices, and the concrete steps you can take to ensure you’re seen as a profitable and valuable member of your firm. At a Glance: 00:00 Why profitability is uncomfortable for many lawyers but unavoidable in firm evaluations 01:20 Why profitability metrics can feel toxic and how firms define them in different ways 02:39 Revenue versus profitability—why $5 million billed doesn’t mean $5 million in profit 03:59 Partner cost per revenue dollar and how staffing models impact profitability 05:10 High-volume, lower-margin practices versus high-margin, resource-intensive matters 07:11 Comparing a $15 million practice with 15% margin to an $8 million practice with 30% margin 08:12 Why collections matter more than billings if the firm isn’t getting paid 08:41 Understanding your standard rate, average billed rate, and why the gap matters 10:06 Realization rate explained with examples and what your firm expects from you 12:38 Collections as the true test of profitability and what firms conclude about lawyers who can’t collect 14:18 The risks of unreliable clients, poor billing practices, or weak client control 15:28 How cost allocations and overhead factor into your profitability picture 16:22 Using dashboards, financial analysts, and legal operations pros to understand your data 17:13 Asking the right questions of CFOs and practice leaders to align with benchmarks 17:36 Why profitability is multi-dimensional and how to shift the conversation from toxic to strategic 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  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast  

Strategic planning often feels like corporate jargon that doesn’t belong in law firms. Yet without a clear plan, too many lawyers end up chasing random opportunities, wasting time, and missing the clients and matters best suited to help them succeed with building their practice and their business.  In this episode, I talk with Sheri Palomaki, Director of Practice Operations at K&L Gates [Energy, Infrastructure, Resources] about why strategic planning is a critical skill for lawyers today, what makes it so difficult in our environment, and how attorneys in BigLaw can use practical tools like SWOT analysis, SMART goals, and accountability partners to align priorities with results. If you’ve ever wondered how to turn priorities like “bring in more clients” into real progress, this conversation will give you a concrete path forward. At a Glance: 00:00 Why strategy feels elusive for lawyers but is essential to your practice 01:20 Framing why strategic planning matters for lawyers and practice leaders 03:29 Sheri’s career path from practicing at Skadden to law firm operations and strategic planning, and how that shaped her perspective 05:21 Why law firms resist planning: cash-basis financials, partnership politics, and individual achievement culture 08:17 The dartboard and football analogies: why random wins aren’t a strategy 10:04 The trap of setting too many priorities and why 2-3 is the sweet spot 12:15 Using SWOT analysis effectively and avoiding the problem of one partner speaking for everyone 14:04 Turning priorities into SMART goals and why specificity matters 16:27 How to avoid chasing the wrong kinds of clients by segmenting your long tail 18:29 Fitness and sports analogies: daily actions, not lofty goals, drive results 21:12 Guarding against shiny object syndrome and staying intentional about shifts 23:10 How recurring accountability meetings and role assignments keep execution on track 25:02 The “accelerator program” model for training rising partners in business development 26:12 First steps: finding an accountability partner and communicating priorities 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. Learn more about Sheri Palomaki and Legal Value Network LinkedIn:https://www.linkedin.com/in/sheripalomaki/ https://www.legalvaluenetwork.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  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast  

Navigating business development in a large law firm can feel like a solo journey. Lawyers often lack sufficient marketing support, leading to frustration in lead generation and outreach. The discussion introduces practical strategies, like building repeatable habits and leveraging external platforms for visibility. Effective communication of achievements helps garner support from leadership. Personal branding and proactive marketing are emphasized as keys to thriving in a competitive environment, even when resources are limited.

Making partner in BigLaw is rarely a straightforward path and the feedback you get from your firm can be really cryptic. In this episode, I break down common things firms say to explain why they’re holding off on your promotion and what they really mean. We go deeper into three of the most frequent partnership “holding patterns”: the need for more visibility, more business development, and more leadership.  I share exactly how each one shows up in day-to-day practice, the actions that actually move the needle, and the questions you should be asking to turn vague guidance into a clear plan. If you’re on the partner track—or wondering why you’re stalled—this conversation will help you decode the signals and take targeted action that matters in your firm’s decision-making process. At a Glance: 00:00 Why partnership feedback is often vague and how to read between the lines 02:28 The need to be "more visible” and why this may mean leaders don't know your value 04:06 Specific ways to build visibility in the right rooms 05:14 Three questions to assess whether you have a visibility problem 06:02 “We’d like to see more business development” and the different forms it takes 07:20 Value-driven business development that goes beyond landing big new clients 08:32 How to maintain relationship velocity with existing and potential clients 09:15 The five stages of business development progression for lawyers 10:29 Questions to ask when feedback on business development is unclear 10:50 “We’d like to see more leadership" and what that really looks like in BigLaw 11:30 Behaviors that show you’re shaping strategy, not just completing tasks 12:16 How cultural fit and internal leadership roles influence partnership decisions 12:57 Asking for specific examples to strengthen your leadership profile 13:17 Final advice for clarifying vague feedback before your next partnership conversation 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  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast  

The legal industry has long assumed that once you make partner, you no longer need training. But as law firm operations have become more complex, and leadership expectations more demanding, that mindset no longer serves the firm or its partners. In this episode, I talk with Leigh Riley, a longtime partner at Foley & Lardner and architect of the firm’s PEAK (Partner Excellence Actionable Knowledge) program, which is redefining what professional development looks like for senior lawyers. Leigh shares the real-world gaps she experienced after making partner and how she helped build a program to address the business, leadership, and people-management skills that partners are now expected to master. We get into everything from billing strategy and succession planning to managing laterals and navigating the emotional dynamics of career evolution. Whether you’re a new partner, a lateral, or approaching transition in your practice, this episode offers a clear look at how firms can better support lawyers at every stage of partnership. At a Glance: 00:00 Why the idea that partners don’t need training is outdated 03:13 Leigh’s realization that partnership came with less guidance, not more 05:07 The moment she advocated for firm-wide partner development 06:15 Why people management is core to Foley’s culture 07:58 Common partner questions that shaped the program 10:18 How mentorship gaps persist well into partnership 12:02 Why internal leaders are the primary trainers—not outsiders 13:25 How training is delivered: live sessions, short videos, and an on-demand library 14:49 Helping lateral partners understand firm culture and support systems 15:13 Involving business professionals in training content 16:12 How PEAK differs from traditional leadership programs 17:10 Training on listening, feedback, and generational differences 18:12 Feedback from partners and why it drives program longevity 23:10 Planning for transitions as partners evolve into new career stages 25:14 The challenges and importance of client succession planning 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. Reach Leigh Riley LinkedIn: https://www.linkedin.com/in/leigh-riley-747b515/ lriley@foley.com https://www.foley.com/people/riley-leigh-c/ https://www.foley.com/  Information about Foley’s PEAK program May 2025 Foley Career Perspectives blog post re overview of all tenure-based training academies at Foley, including PEAK: https://www.foley.com/insights/publications/2025/05/investing-attorneys-arc-careers/ October 2024 PEAK highlighted in The American Lawyer: https://www.foley.com/news/2024/10/foleys-peak-training-program-highlighted-in-the-american-lawyer/ September 2024 press release re PEAK launch: https://www.foley.com/news/2024/09/foley-launches-peak-partner-training-program/ 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  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast

When you’re early in your legal career—or even well into it—it can feel like raising your professional profile is only possible if you’re already visible. But in this episode, I share how lawyers at all levels can expand their reputation strategically, even without headlining conferences and events, or getting opportunities to publish in legal journals and publications. I walk through the barriers lawyers face with getting more external visibility, including for attorney working in-house or at firms with less resources or ability to assist their practictioners, and break down practical, ethical, and effective ways to build your brand in both the legal and business communities. From LinkedIn strategies to industry group engagement, from social circles to generosity-based networking, I cover a range of tactics that can help to gain traction. Whether you're trying to become known as a trusted expert in your niche or simply want to find a path to more leadership and client-facing opportunities, this episode outlines steps you can take now to build a stronger, more memorable presence—starting today. At a Glance: 00:00 Why visibility is hard in both junior and senior stages of your career 02:30 What to do when legal speaking and publishing opportunities feel limited 02:59 How to answer “What do you do?” in a way that reflects your expertise 04:23 The difference between title-based and value-based branding 05:09 How to quietly build industry presence on LinkedIn 06:15 A low-effort way to become a recognized voice in your niche 07:10 Why business groups (not just legal ones) matter 08:16 How social and civic groups can organically build your brand 09:02 Letting your best traits speak for themselves outside of legal roles 09:48 Writing about law-adjacent topics when legal topics are off-limits 11:01 The role of generosity in expanding your reputation 12:14 How being a “connector” gets you invited to speak and lead 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  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast

Business development in large law firms can feel frustratingly slow, even for high achievers. Challenges include long sales cycles and limited access to decision makers. Understanding structural barriers is key to navigating this landscape. Strategies for building credibility without major cases and identifying quiet traction are crucial. The importance of finding an authentic engagement style and taking ownership of your strategy is emphasized. Gain insights into client relationships and learn how to reassess your timing and position for better results.

If you’ve ever lost credit for work you led, grown a client relationship that someone else now claims, or watched a colleague take center stage at a pitch you prepared, this episode is for you. I walk through what professional credit theft looks like in Big Law and how to respond in a way that’s smart, strategic, and fact-based. Whether it’s origination, execution, or visibility, losing credit can hit your comp, promotion, and internal standing hard, and it can happen pretty often in law firms. I break down how to document your contributions, when (and how) to raise the issue, and what to do if things escalate. I'll also share some specific language you can use in emails and comp memos to reclaim credit without causing unnecessary friction. Big Law isn’t always a level playing field, but this episode arms you with the tools to assert your value and protect your future. At a Glance: 00:00 Why credit theft is such a serious issue in Big Law 01:20 The three types of credit theft: origination, execution, and visibility 02:41 How to assess the real impact—on comp, promotions, and perception 03:40 What to document: emails, billing records, client praise, and more 04:57 Power dynamics: how seniority affects your strategy 05:39 When and how to confront the credit thief directly 06:20 Sample email language that’s assertive but professional 07:51 The range of responses you might receive—and how to handle them 09:01 What to do next if the response is defensive or dismissive 09:40 Escalating the issue without sounding like a complainer 10:13 What to say to a mentor, group head, or comp committee member  11:02 Proactively increasing your internal visibility 11:44 A real example of leadership backing the right person 12:35 What to include in your comp memo to document your role 13:36 Why context, not just credit, matters in compensation conversations 14:23 How to quote client feedback to strengthen your case 14:57 Sample language for your comp memo when someone else has claimed your work 15:41 Why visible, fact-based stories beat vague complaints every time 16:06 The importance of defending your contributions at every stage 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  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast  

If you’ve ever found yourself rewriting an email ten times, hedging every sentence in a memo, or avoiding a hard conversation with a colleague or client—you’re not alone. In this episode, I dive into why communication is one of the most underestimated challenges in Big Law, and how it can make or break your success. Lawyers are trained for precision and risk mitigation—not for clarity or connection. And firm culture only reinforces that. But when your writing is dense, your feedback is vague, or your tone is overly formal, it’s not just style—it’s a barrier to effective leadership, client trust, and team performance. In this episode, I break down the most common communication traps in Big Law, why even the top attorneys fall into them, and how to shift toward language that is actually helpful, direct, and practical. From speaking up without a fully formed answer to giving (and receiving) better feedback, this episode is packed with specific strategies you can apply right away. At a Glance: 00:00 Why communication challenges are so common in Big Law 01:20 How legal training encourages hedged, dense, and formal language 02:09 The difference between being technically correct and being useful 03:00 Real examples of communication breakdowns with clients and teams 04:13 The cultural factors that cause lawyers to avoid directness 05:03 Why fear of being wrong leads to silence or delay 05:33 How conflict avoidance undermines feedback and clarity 06:32 Expertise isn’t communication—why tone, context, and structure matter 07:27 What better communication actually looks like 07:51 How to write clearly: start with what the reader needs to know 08:18 The role of senior lawyers in modeling direct, contextual feedback 08:41 What to say (and ask) when vague comments like “fix this” come up 09:06 Why it’s okay not to have all the answers—and what to say instead 09:29 Spotting and replacing gobbledygook language in firm conversations 09:53 How firm hierarchy silences real dialogue 10:15 The importance of regular, real-time, two-way feedback 10:55 How to ask clarifying questions without apologizing 11:44 Why lawyers sound overly formal—and how to sound human again 12:10 Read the room: adjust your tone and delivery to your audience 12:33 Final thoughts: break bad habits, aim for clarity over complexity 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  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast  

If you’ve ever left a conference wondering whether it was worth the time, money, and disruption to your client work, this episode is for you. I break down how Big Law attorneys can approach conferences more strategically—before, during, and after—so they actually generate business, deepen client relationships, and build visibility with the right people.  Too often, conferences are treated as obligatory or status-based, without a clear plan for return on investment. But with tight schedules and high expectations, you can’t afford to attend just to check a box. I share the steps I walk through my coaching clients to evaluate which events are worth attending, prepare for targeted interactions, and follow through to maximize long-term value. This isn’t about collecting badges or LinkedIn selfies—it’s about making sure the time you spend translates into opportunities that move your practice forward. At a Glance: 00:00 Why many Big Law attorneys struggle to get ROI from conferences 01:44 How to choose events that align with your business development goals 03:04 The problem with conferences filled only with other law firm lawyers 04:04 How to assess whether attendees include real decision-makers 05:10 Why smaller, niche conferences can offer greater access 06:08 Hidden pitfalls of vendor-heavy conferences and VIP sponsor tiers 06:55 Mapping a before-during-after strategy for each event 07:44 Defining specific goals for client relationship-building 08:43 Using LinkedIn and firm connections to prep in advance 09:25 What to say when meeting new people—and how to reconnect 10:25 Why personal touches help build rapport faster than a hard pitch 11:04 How to use dedicated time (like meals and coffees) to go deeper 11:43 Smart ways to continue the conversation without being transactional 12:20 Why taking real-time notes is non-negotiable 13:05 Capturing your own visibility as a speaker or attendee 14:00 How to spotlight clients and earn goodwill through social content 14:22 The most common reason great conference connections fizzle out 14:41 The 72-hour rule: blocking time for personalized follow-up 15:05 Follow-up ideas that feel helpful, not salesy 15:24 Coordinating with your firm’s client team on next steps 15:47 Turning one insight into scalable content or broader BD initiatives 16:08 Measuring conference ROI over 6, 12, and 24 months 16:28 Final thoughts on being intentional with your time and brand 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  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast