Posted Oct 30, 2007 07:28 pm CDT
When Florida lawyer Joseph H. Serota tried to network with fellow managing partners, he felt the sting of rejection. His firm at the time only had 25 members, too few to join the group from which he sought guidance.
So Serota struck out on his own, forming the Florida Association of Managing Partners, for law firms with 20-100 lawyers, Florida Trend reports.
“Our firms are very, very different in terms of our business practices, our client base, what we do, and yet the underlining issues are remarkably the same,” fellow managing partner, Ronald B. Ravikoff, tells the publication.
Among the shared issues:
– Competing with BigLaw salaries and convincing young lawyers that after a few years of practice, they’ll be matching the market, but on merit, not because compensation gets flattened out over time.
– Attracting talent with the promise of meaningful work and better quality of life.
– Focusing the firm on specialty areas, resembling boutiques, rather than trying to be all things to all clients.
– Dealing with increased competition from large firms, that because of technological innovations, are more willing to take on smaller cases in Florida.