Big Law Life

In today’s episode, I examine strategies to help lawyers navigate a successful start to the new year in large law firms, touching on topics such as avoiding time traps, setting achievable goals, and maintaining work-life balance.  I share real-world examples, actionable steps, and personal insights to address challenges unique to the legal profession, including managing non-billable tasks and actively shaping your career path. If you’re looking to step into the new year with intention and clarity, this episode offers practical advice to make the most of your time and energy. At a Glance: 0:00 Introduction to today’s focus on starting the new year strong 02:02 The importance of avoiding last year’s mistakes and saying “no” 03:13 Prioritize meaningful opportunities and balance workload effectively 04:10 Move forward from past setbacks and focus on future plans 05:24 Set actionable priorities for the year with specific goals 06:24 Engage with your network strategically to grow client relationships 08:15 Proactively meet new colleagues and build internal connections 09:18 Set a timeline for your professional goals and sticking to it 10:41 Use trackers and schedule to stay accountable and avoid frustration 11:07 Take ownership of your career path and seek better opportunities 12:14 Avoid passivity and actively shape your work experience 13:04 Identify changes to move forward when feeling stuck 14:16 Assess physical and mental health to maintain balance 15:07 Build better rest habits to improve focus and productivity 16:28 Encouragement for the new year and ways to connect 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  

In today’s episode, I explore the practical side of building and maintaining client relationships as a partner in Big Law. I discuss why a structured approach to business development is crucial and how a simple tracker can help you stay on top of key contacts, follow-ups, and next steps. I share actionable advice on how to confidently ask clients for work and how to keep relationships vibrant and productive, even with long-standing contacts or those you haven’t reached out to in a while. At a Glance: 0:00 Introduction: Recap of last episode and today’s focus on tracking client outreach and asking for work 2:14 The importance of regular follow-ups and tailoring outreach frequency 3:26 Why business development often fails: The need for a structured tracker 6:01 Personalizing follow-ups: Adding shared interests to strengthen connections 8:15 Reconnecting with dormant contacts: Tips for restarting relationships effectively 9:16 Following up on RFPs: How to stay proactive without seeming desperate 11:14 Scheduling regular tracker reviews to refine your outreach strategy 14:15 Asking clients directly for work: Building confidence and structuring the conversation 17:20 Aligning with client needs: Honest discussions about opportunities and adjustments 18:23 Closing thoughts: Sustaining relationships and preview of next steps in client development 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   Download tracker here: Sample Business Development Tracker.pdf LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast  

New Big Law partners delve into essential strategies for client development. They emphasize creating a strong personal brand to stand out and building visibility within the firm. The discussion highlights the importance of authentic relationships over mere transactions. Listeners learn about cross-marketing tactics and the value of long-term engagement with clients. The insights provided aim to foster a fulfilling career while successfully navigating the competitive legal landscape.

In today’s episode, I delve into essential strategies for lawyers stepping into a partnership role in large law firms. From building a book of business and managing the financial responsibilities of partnership to fostering internal and external relationships, I provide actionable advice to help you thrive in your new role. Whether you're navigating client origination, financial metrics, or internal dynamics, this episode is packed with practical steps and insights to set you up for long-term success. At a Glance: 00:00 - Introduction to Big Law Life and navigating the challenges of becoming a new partner in Big Law 01:20 - Congratulations on becoming a partner; now what? 01:38 - The importance of building your own client base early in your partnership 03:39 - Gaining control of your work early on in your partnership 04:30 - Learning the financial metrics that firms evaluate for partner success 05:54 - Tips for understanding and improving realization rates and billing processes 07:10 - Navigating varying expectations for junior versus senior partners 08:36 - Personal financial planning as a new partner, including tax considerations 09:44 - Preparing for irregular income and potential capital contributions 10:30 - The importance of internal relationship-building within the partnership 11:28 - How to craft a personal brand and elevator pitch as a new partner 12:21 - Asking and seeking to understand the value your fellow partners bring to the 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. 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  

In today’s episode, I tackle the critical steps associates in large law firms should take to close out the year effectively. From navigating mandatory trainings and pro bono commitments to planning for professional growth in the upcoming year, I provide specific, actionable advice to ensure you finish the year strong and position yourself for success in the months ahead. I also discuss the nuances of firm culture, from handling leave requests during the holiday season to expressing gratitude to colleagues and supervisors in ways that strengthen relationships. At a Glance: 00:00 - Introduction to Big Law Life and why year-end is a pivotal time for associates in Big Law 00:20 - The importance of meeting billable hour goals and mandatory requirements 01:45 - Strategies to complete overlooked tasks like trainings and pro bono work 02:40 - How to approach holiday leave requests and ensure smooth coordination 04:23 - Staying accessible during holidays and managing team expectations 05:17 - Recognizing and appreciating colleagues and supervisors at year-end 07:10 - Personalized client outreach: Going beyond standard holiday cards 07:30 - Planning for conferences, training, and firm-approved growth opportunities 08:12 - Turning feedback into actionable career development plans 10:12 - Advocating for opportunities: Avoiding the common pitfall of waiting 11:39 - Setting goals and creating a tracker for accountability in the new year 13:18 - Closing the year with momentum and preparing for a fresh start 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  

In today’s episode, I discuss critical mindset shifts necessary for transitioning into a partnership role at a large law firm. I cover everything from securing and justifying business development budgets, to managing challenging relationships with fellow partners, and re-evaluating your career trajectory as you establish yourself in this demanding role. Drawing from personal insights and coaching experiences, I provide actionable strategies for navigating these challenges and achieving long-term success as a partner. At a Glance: 00:00 Introduction to Big Law Life and today’s episode 00:20 Celebrating the milestone of making partner 01:10 The crucial mindset shift from associate to partner 02:30 How to approach business development funding as a new partner 05:00 Maximizing ROI on firm-sponsored travel and conferences 07:15 Understanding firm protocols for budget allocations 08:40 Balancing conflicts with fellow partners 11:30 Managing your practice and pivoting when necessary 15:00 The ongoing pressures of business development as a partner 16:30 Final advice on maintaining adaptability as a partner 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  

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 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

Discover how large law firms can enhance client relationships by understanding their selection processes. Learn the importance of candid client feedback and how it can improve services. Explore the common pitfalls in client assumptions that undermine trust. Uncover essential factors clients consider beyond legal expertise, and the value of postmortem discussions after bid outcomes. This episode provides practical strategies to position lawyers as trusted advisors and to use feedback as a vital tool for growth.

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: amaloney@alm.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

Discover essential strategies for attorneys in large law firms to tackle the business side of their practices. Explore why many lawyers shy away from financial matters and how collaboration with business professionals can bridge this gap. Dive into the changing dynamics of client expectations and technological advancements that reshape legal business interactions. Learn actionable ways to enhance teamwork for improved profitability and efficiency within the firm. Tune in for insights that can transform both legal and business partnerships!