The Missing Ingredient for Women Lawyers, Week of May 24, 2011 Options

[Editor]

Greetings!


Come June 7th we're taking off on our National Road Show. I'm excited, never having done this before. Crossing the country in our truck and Airstream Silver Bullet.

I am speaking to bar associations, law schools, gatherings of sole and small firm practitioners along the route. Providing thousands more with Best Practices for increasing your revenue, improving your profit picture and reducing your stress. Making The Business of Law® fun again! Delivering valuable legal services to our clients, being respected for the benefits we deliver and having fun in the process knowing we did good while also doing well.



This National Tour is happening because of the generous support of our sponsors. See Fujitsu ScanSnap and Lexis Hub. Thank you!

Ed Poll
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The Missing Ingredient for Women Lawyers


The Demographic Pyramid
Numerous surveys and studies verify that the demographic profile of women in the legal profession is in the shape of a pyramid. At its base are law students, as women are more than half of the first-year students at law schools nationwide. At the middle of the pyramid, in large law firms, women typically constitute 40% or more of all associates - well above a decade or two ago. However, the pyramid culminates in a narrow peak: women are no more than 20% of the partners at most large firms, and hold an even smaller percentage of senior firm or practice management positions.


Inadequate Career Development
There is general agreement that this pyramid should broaden at all levels, if for no other reason than that firms for their own future survival must more closely resemble the demographics of the business community and society in general. Corporate clients of law firms are wrestling with exactly this same issue. McKinsey & Co. has released a report stating that "inadequate career development has kept women from reaching the top rungs of the corporate ladder..." The same is true in law firms who correspondingly have low numbers in top management.


Utilizing a Coach
The McKinsey report further said "...companies need to spend more time coaching women..." Corporate America understands this; when lawyers learn to understand it also as the missing ingredient for the career advancement of women lawyers, they will become more fully integrated into the power structure of firms. The coaching process works for athletes, for top business executives - for anyone who wants to increase revenue and decrease stress. A side benefit of great importance is an increase in individual self-esteem.


Increase Individual Self-Esteem
Lack of self-esteem is one of the greatest impediments, in my experience as a coach, faced by most professionals. This is most particularly true of lawyers, probably because our standard is "perfection." I know no one who is able to reach that standard. Coaching can show anyone how important "progress" is without worrying about reaching an impossible level of perfection. A good coach understands these issues and can help a woman lawyer to progress while learning what her "comfort zone" is and realizing how she can work within it.


Achieving Success
Just as there is more than one type of personality who will successfully run a company, there is no one personality type necessary for being a rainmaker and being a firm leader. True success comes from understanding one's personal strengths and using them to develop relationships, build bridges and win confidence. A good coach can help build this understanding, and thus can be the difference in a woman lawyer building a successful practice.

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Growing Your Law Practice in Tough Times
By Edward Poll

Following the worst economic crisis since the Great Depression, and facing a sea change in clients' demands and expectations, law firms must respond and adapt quickly and effectively. Law firms must choose the kind of law practice they will be; the marketing and business development tactics they will use; the overhead that is critical to their functioning; how to price, bill and collect for services; and how to manage the cash flow cycle. Success lies in identifying and capturing the right kinds of clients, providing the services those clients need in ways that add value, and ensuring prompt payment and the ability to grow profits. This book, based on the experiences of the author and his clients over 20 years of coaching and consulting, provides the keys to successfully thriving in the new era.

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What Clients Are Saying:

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