8 Characteristics of Top Performing Law Firms

As we have grown our law firm from zero to 25 attorneys, I have seen how our firm matched up with other very successful law firms. And, I have noticed that top performing law firms have some common characteristics:

1 - Leaders have a growth mindset. They listen to feedback and ideas from others. They welcome criticism and have people around them who disagree with them.

2 - There is a simple, easy to understand plan in place. Effective leaders make business plans simple to understand and, thus, easier to execute.

3 - There is high decision velocity. Decisions are made quickly when enough information becomes available, maybe 65-70%. Flat organizations are better at this. Making great decisions quicker than your opponent gives you an advantage.

4 - The firm measures and uses teammate engagement regularly. The key is to use the information. It is not enough to simply measure.

5 - Leaders are transparent. They are not afraid to say: “I don’t know but I can find out.” And then they follow through. There is no hiding the ball.

6 - Teammates know why they are winning. There is a clear picture of the understanding of the winning factors. It is never enough to know that you are winning. You must know why.

7 - Pace of the practice is healthy and balanced. There is a good balance of support and challenge by the leaders. Change is purposeful and planned.

8 - The strongest teammates are the biggest supporters. Top performers love to be challenged. They want to be around other top performers. And, they are the biggest cheerleaders to get others to come.