the partnership

the four keys to creating a firm vision that unites and mobilizes

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and the eight ways to give core values real business value.

by robert j. lees and august j. aquila
how to engage partners in the firm’s future

when we talk about having a compelling vision, we don’t just mean the simple, well-crafted statement you find in a lot of firms.

for a vision to be compelling, for it to persuade the partners that they want to play an active part in making it a reality, a vision must have four elements: read more →

thresholds and core competencies for a new partner

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what it takes to make partner: the 27-point checklist the best firms follow.

marc rosenberg, author of how to bring in new partners, cites at least six areas that partnerships at the nation’s best firms habitually evaluate before naming a new partner, including: nine intangibles, four financial and legal considerations, five practice development issues, three production and client management metrics, two technical proficiencies, three supervisory skills and one very important administrative credo. read more →

deciding between equity or non-equity partners

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five reasons for one, eight for the other. and they’re not all created equal.

after studying some 700 firms, marc rosenberg has some fairly hard-and-fast rules about how to bring in new partners. here, he delivers five reasons to lean toward deciding on bringing in traditional equity partners and eight reasons for making them non-equity partners. all things being equal, they aren’t.

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the five habits managers must master to make partner

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by marc rosenberg
author of how to bring in new partners

how will the duties and responsibilities of a manager change when he or she becomes a partner in the firm?

unfortunately, this is one of the grayest areas in bringing in new partners. common sense must prevail. ideally, there should be a gradual transition for new partners from their last two to three years as a manager to the first few years as a partner. during their last few years as a manager, they should:

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6 questions to test your firm’s partner pay system

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how to create a fair and effective comp plan that unites partners and pushes the firm forward.

by robert j. lees and august j. aquila
creating the effective partnership

the right partner performance bonus plan encourages and rewards partners for achieving firm, team and individual goals, enabling the partners to see a clear cause-and-effect relationship between what they do, what it means to the firm and how they get rewarded.

unfortunately, in too many firms, partners can’t see these linkages. the compensation system is a failure.

consider, for a moment, these six questions for your firm: read more →