Report comment

I'm not a solicitor but my experience as a legal-sector specialist banker and more recently as CEO of a network of independent law firms has taught me that the key factors for success are: -
- knowing the difference between profit and cash
- and the difference between the roles of ownership and leadership, between leadership and management - and how to balance that where necessary with being a practitioner
- being prepared to invest in IT
- embracing change and being prepared to accept failure - not everything works first-time
- invest in growing tomorrow's leaders in-house
- seek out other law firm leaders and learn from them / share ideas and best practice
- seek out leaders in other business sectors and learn from them too
- build a workplace / culture that people want to be part of, based on values that everyone in the business can articulate
- Communicate - with your people
- Communicate - with your clients
- Communicate - with your key stakeholders

- Be a leader, not a manager. Nice summary of the differences below courtesy of 'On Becoming a Leader', Warren Bennis, 1989

MANAGERS: -
- administer
- maintain
- focus on systems
- ask how & when
- have eyes on the bottom line
- accept the status quo
- do things right

LEADERS: -
- innovate
- develop
- focus on people
- ask what and why
- have eyes on the horizon
- challenge the status quo
- do the right thing