The NXT Big Thing - Vol. 1, No. 3 - July, 2006 - (Page 28)

I believe it important to talk with and listen to anyone who was a critic of the prior managing partner. While you may not agree with their views or move the firm in the direction they want, by meeting with them you convey that their opinion is important and is being heard. I also feel that if you do not hear from a diverse sampling of your partners, the information you receive starts to be filtered and you become isolated as to the real world about what is happening in the firm - much like a President may be criticized for not being in touch with what most Americans are saying. A lack of strength in finances / accounting will likely be common for new managing partners given the normal undergraduate tracks to law school and the utter failure of most law schools to discuss, at any level, the business operations of being in law. In this area, I have spent a lot of time with our Executive Director being schooled on the finances; and have called in a business owner friend to help me develop a dashboard view of the information that I need to know and monitor. Stephen O. Plunkett, Managing Partner Rider Bennett, LLP Minneapolis Most managing partners begin with an ambitious agenda or they should to have any chance of success . The first 100 days is a great benchmark for the purpose of focusing on creating a credible platform to accomplish your goals. I believe it helpful for those goals to explicitly include both strategic and operational issues. There is no firm these days that does not have needs in both dimensions, and a successful initial tenure ought to have one or two early successes in both areas. Law firm managers are a confident lot, but they usually have little background to run a large business they have no academic training as managers, and their instincts as lawyers usually are more of an impediment to success. So, in my view, new managing partners should begin with the humble recognition that they are not terribly well qualified for the job. John T. Montgomery

Table of Contents for the Digital Edition of The NXT Big Thing - Vol. 1, No. 3 - July, 2006

The NXT Big Thing - Vol. 1, No. 3 - July, 2006