MPF Webinars - 2023
Below (in reverse chronological order) are links to the on-demand recordings and handout materials for The MPF Webinars we presented in 2023. Moderated by John Remsen, Jr. and Uri Gutfreund, these sessions are fast-paced, highly interactive and full of benchmarking data.
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BIG BOLD Predictions for 2024
by Managing Partner Forum with Uri Gutfreund and John Remsen, Jr.
An MPF Webinar Originally Broadcast on December 20, 2023
One-hundred twenty-five (125) managing partners and law firm leaders participated. As always, we generate timely benchmarking data, and strive to make these programs fast-paced, entertaining and relevant. During the session, Uri Gutfreund and I shared our "Best of Show" MPF Webinars for 2023:
- Winning the Law Firm Merger/Acquisition Game – March
- The Rise of the Law Firm C-Suite: Importance of Data in Law Firm Management – July
- What Law Firm Leaders Need to Know about AI and ChatGPT – August
- Pricing Strategies to Improve Your Firm’s Profitability in 2024 – November
In addition, we offered our predictions for 2024. Here are some of the highlights:
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Top Priorities for Small and Midsize Law Firms
- Profitability Improvement – Forty-two percent (42%)
- Marketing/Business Development – Eighteen percent (18%)
- Succession Planning – Thirteen percent (13%) - Demand for Junior Partners and Senior Associates Will be Red Hot. Not so Much for Junior Associates
- Women Will Leap into Leadership Roles
- Bold Rate Increases Will Hold. (Go for it!)
- MidLaw Will Kick Butt in 2024!
Click here for On-Demand Webinar.
Click here for Handout Materials.
Click here for Highlights and Recap by 9Sail.
Pricing Strategies to Improve Your Firm's Profitability in 2024
by Managing Partner Forum with Bo Yancey
An MPF Webinar Originally Broadcast on November 21, 2023
Held on November 21st. One-hundred five (105) managing partners and firm leaders participated, and here are some of the highlights:
Annual Billable Hour Expectations Continue to Fall
Thirty-three percent (33%) of firms currently expect 1,700 or fewer billable hours for Associates. A whopping fifty-nine percent (59%) have similar expectations for Non-Equity/Income Partners.
Many Midsize Firms Achieved Nice Rate Increases in 2023
Forty-five percent (45%) reported that they achieved "meaningful" (5% or more) rate increases in the current year.
Most Firms Plan to Pursue Aggressive Rate Increases in 2024
Here is how it breaks down according to our survey results:
- Ten percent (10%) plan to raise rates by ten percent (10%) or more.
- Thirty percent (30%) plan to raise rates by six-nine percent (6-9%).
- Forty-five percent (45%) plan to raise rates by four-five percent (4-5%).
We think you will find this benchmarking data very helpful as your firm contemplates its pricing strategies for 2024.
Click here for On-Demand Webinar.
Click here for Handout Materials.
Click here for Highlights and Recap by 9Sail.
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Lessons Learned at The MPF 2023 Fall Symposium:
Empowering Women in Law Firm Leadership
by Managing Partner Forum with Elise Holtzman
An MPF Webinar Originally Broadcast on October 18, 2023
More than 75 firm leaders participated in the live Webinar and here are a few things they told us:
- Forty- four percent (44%) of firm leaders said that they have or have had a woman managing partner.
- Twenty-nine percent (29%) reported that they had women's initiatives in play at their firms. (We were surprised that the number was not higher.)
- Thirty-eight percent (38%) say that their firms provide business development coaching/training for women lawyers.
- The top strategies to attract and retain women: 1) Flexible Work Options. 2) Mentoring and Sponsorship.
Click here for On-Demand Webinar.
Click here for Handout Materials.
Click here for Highlights and Recap by 9Sail.
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Building Innovation into Your Law Firm's Culture
by Managing Partner Forum with Debbie Foster and Stephanie Everett
An MPF Webinar Originally Broadcast on September 20, 2023
The session was fast-paced, highly interactive, and full of great ideas to implement at your firm.
As always, we feature live audience polling. Here are some of the things we learned:
- When it comes to adapting to change, 6% of firm leaders say that their firms are "Innovators;" 15% say they are "Early Adapters;" 29% say they are "Early Majority;" 35% say they are "Late Majority;" and 13% describe their firms as "Laggards".
- 32% say that "Innovation" is among their firm's "Core Values."
- 43% say that "Innovation" is rarely or never discussed at partnership meetings.
Click here for On-Demand Webinar.
Click here for Handout Materials.
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What Law Firm Leaders Need to Know about AI and ChatGPT
by Managing Partner Forum with Rosanna Berardi and Tony DeSimone
An MPF Webinar Originally Broadcast on August 16, 2023
We thank our guest speakers Rosanna Berardi, Esq., Managing Partner of Berardi Immigration Law; and Anthony DeSimone, President of YEN LLC. We had a great conversation with practical advice and guidance provided. Here are a few topics we discussed:
- AI's Impact on the Legal Industry
- Lean, Learn, Get Ahead of the Curve
- Tony’s Cheat Sheet RE: Bard, Bing, Chat
- Training Your People, both lawyers and staff
- Adopting Firm Policy
Click here for On-Demand Webinar.
Click here for Handout Materials.
Click here for Highlights and Recap by 9Sail.
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The Rise of the Law Firm C-Suite:
The Importance of Data in Law Firm Management
by Managing Partner Forum with Julie Boehme, Rebecca Goodman-Stephens and David Schaefer
An MPF Webinar Originally Broadcast on July 19, 2023
Among other things, we discussed the importance of metrics and KPIs to the business and practice of law, and the future of data analytics in the legal industry. As always, we collect and share current benchmarking data.
Our guest speakers were Julie Boehme, Chief Operating Officer of Bernstein Shur; Rebecca Goodman-Stephens, Chief Executive Officer of Moses Singer; and David Schaefer, Managing Director of Calibrate.
Click here for On-Demand Webinar.
Click here for Handout Materials.
Click here for Highlights and Recap by 9Sail.
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What Every Managing Partner Needs to Know
About Marketing and Business Development
by Managing Partner Forum with Roy Sexton, Susan Slifer and Lee Watts
An MPF Webinar Originally Broadcast on Wednesday June 21, 2023
Fresh off the LMA’s Annual Conference in Hollywood, Florida, we invited Roy E. Sexton, President of the Legal Marketing Association and Director of Marketing of Clark Hill; Susan Slifer, Principal of Edge International; and Lee Watts, Founder/CEO of Ashby & Co. Consulting, to share the latest trends and developments. Here are a few things we learned:
- Less than ten percent (10%) of firms regularly solicit client feedback. This is low-hanging fruit, and there are plenty of ways to go about it.
- Sixty-eight percent (68%) of firms say they provide business development training for lawyers. Only nine percent (9%) include staff. We think you should include everybody at your firm in business development training.
- Fifty-nine percent (59%) of firm leaders say that their firms track marketing/business development time. Twenty-six percent (26%) say that it matters. We say track it and reward it. You get what you pay for.
Click here for On-Demand Webinar.
Click here for Handout Materials.
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Improving your Firm's Profitability:
What Every Managing Partner Needs to Know About Expense Right-Sizing
by Managing Partner Forum with Bill Meck and Rob Mattern
An MPF Webinar Originally Broadcast on Wednesday, May 17, 2023
We discussed how to improve your firm’s bottom line through a strategic approach to expense management. One hundred and forty-eight (148) managing partners and firm leaders participated, and we learned the following:
- Forty percent (40%) of firm leaders reported that Total Firm Profitability is "up" this year, compared to 2022. Forty percent (40%) said it was "about the same."
- Fifty-six percent (56%) said that Associate Salaries are the fastest growing expense category at their firms.
- Ninety three percent (93%) reported that their firms have Raised Rates in 2023 to improve the bottom line.
- Sixty-six percent (66%) told us that they are focusing on Expense Management "more than usual" in 2023.
Click here for On-Demand Webinar.
Click here for Handout Materials.
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Winning the Law Firm Merger/Acquisition Game
by Managing Partner Forum with Corey Castillo, Roger Hayse and Alex Muñoz
An MPF Webinar Orginally Broadcast on Wednesday, March 15, 2023
The live session was held on Wednesday, March 15th, and our guest panelists were Corey Castillo, Roger Hayse, and Alex Muñoz. Eighty-eighty (88) law firm leaders participated, and here are some of the things we learned.
- Fifty-seven percent (57%) observe an uptick in merger/acquisition activity in their regions
- Eighty-one percent (81%) say their firms are in growth mode, and seek to acquire smaller firms/practice groups
- Forty-five percent (45%) say growth is driven by a "written" or "adopted" firm strategic plan
- Fifty percent (50%) say cultural fit is the biggest concern assessing opportunities
These popular programs are complimentary for our readers. Participants value the fast pace, the interactive format, and the timely bench-marking data we share.
Click here for On-Demand Webinar.
Click here for Handout Materials.
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MPF UPDATE:
The Movement toward Law Firm Ownership Reform in Arizona and Utah
by Managing Partner Forum with Whitney Cunningham and Carson Pearson
An MPF Webinar Originally Broadcast on Wednesday, February 15, 2023
During the session, we asked Whitney and Carson to provide an overview of the reform efforts in their jurisdictions, discuss how law firms have responded, and share what their firms are doing in light of regulatory reforms. Eighty-five (85) managing partners and firm leaders participated in the live session, and here are a few things we learned via surveys and live audience polling:
- Ninety-four percent (94%) of participants think the legal profession is not doing a good job educating society-at-large about the law and the legal profession.
- Sixty percent (60%) of participants said that access to capital is important for their firms.
- Fifty percent (50%) of participants think that technology companies are a competitive threat to their firms.
- Seventy percent (70%) favor Multi-Disciplinary Practices ( MDPs) and Alternative Business Structures (ABSs). Fifteen percent (15%) are strongly opposed.
This session offers an interesting and thought-provoking conversation with two firm leaders on the front line of regulatory reforms in the legal profession.
Click here for On-Demand Webinar.
Click here for Handout Materials.
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BIG BOLD Predictions for 2023
by Managing Partner Forum with Uri Gutfreund and John Remsen, Jr.
An MPF Webinar Originally Broadcast on Wednesday, January 18, 2023
Drawing on insights and perspectives from managing partners and law firm leaders from across the US and Canada, Uri Gutfreund and John Remsen Jr. presented their BIG BOLD predictions for the legal profession in 2023.
As always, the session was fast-paced, entertaining and featured plenty of current survey and benchmarking data.
Click here for On-Demand Webinar.
Click here for Handout Materials.
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