Big Law Life

Laura Terrell
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Big Law Life

On Big Law Life, Laura Terrell and her guests discuss the strategies, steps, relationships and communications you need to navigate the world of large global and national law firms, from the perspective of lawyers, business and legal professionals, in-house counsel, and others with experience working in and around this environment. Laura dives into what you want to know about BigLaw but didn’t learn in law school and what wasn’t covered in your law firm orientation. To learn more about how she works with attorneys and to access her blog and resources, go to www.lauraterrell.com

  1. #47: Strategies for Thriving Through Law Firm Mergers

    -2 J

    #47: Strategies for Thriving Through Law Firm Mergers

    In this episode, I delve into the challenges lawyers encounter when their firms go through mergers. Drawing from my experience as an equity partner in global firms, I discuss the often-overlooked aspects of these transitions, such as managing new technology systems, navigating office relocations, embracing new branding, and adapting to shifts in leadership.  I also touch on the practical steps lawyers can take to protect client relationships, manage origination credits, and align with the evolving firm culture. My goal in this episode is to give you actionable strategies for staying ahead and safeguarding your career when major changes come your way.  At a Glance: 00:00 - Introduction to today’s episode 01:20 - Overview of recent law firm mergers and their impact on market power 02:14 - Initial changes post-merger: technology, office location, branding, and leadership shifts 04:16 - Navigating new office space dynamics and hot desking 05:03 - Challenges with firm rebranding and identity alignment 05:30 - Leadership restructuring and its implications for legal teams 06:12 - The importance of assessing fit within the newly merged culture 07:24 - Evaluating potential downsizing in business and legal operations roles 09:02 - Staying informed through firm meetings and assessing post-merger shifts 09:55 - Managing client conflicts and ethical considerations during mergers 11:01 - Risks and considerations for equity partners under new firm structures 12:43 - Complexities of multinational firm mergers and compensation variances 14:29 - Opportunities for career growth and new business in merged firms 15:04 - Building connections with new colleagues and collaborating effectively 16:17 - Retaining origination credit and client relationship management 18:12 - Client insights into new colleagues: building trusted alliances 19:02 - Proactive strategies for adapting to the evolving firm landscape Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life?  Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.  For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!  For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her: www.lauraterrell.com  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast

    20 min
  2. #46: Key Client Insights Your BigLaw Competitors Are Missing

    13 NOV.

    #46: Key Client Insights Your BigLaw Competitors Are Missing

    In today’s episode, I’m diving into the essential questions lawyers in large law firms should be asking their clients to strengthen relationships, retain business, and gain a deeper understanding of client expectations. I’ll share how law firms often miss out on valuable client feedback and provide a practical roadmap to get candid insights on everything from hiring processes to building meaningful connections and staying competitive in the legal landscape. Through specific examples, I’ll guide you on how to position yourself as a trusted advisor and invaluable partner to your clients. At a Glance: 00:00 - Introduction to today’s episode  01:20 - Insights from a recent conference on client-centric practices   02:08 - Understanding a client’s process for selecting outside counsel   03:11 - How assumptions about client selection can harm relationships   04:12 - Exploring various bidding processes in client hiring   05:17 - Importance of postmortem discussions, whether hired or not   06:28 - Address the fear of client feedback as a growth tool   07:13 - Bring in business professionals to gather client feedback   08:18 - Frame questions to learn about competitors constructively   09:17 - Essential factors beyond legal skills clients look for   10:21 - Be prepared for potential negative client feedback   11:07 - Recognize specific client needs that may exclude certain firms   11:30 - Final thoughts on feedback as a tool for improving client relationships Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life?  Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.  For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!  For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her: www.lauraterrell.com  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast

    13 min
  3. #45: BigLaw Insights from AmLaw Reporter Andrew Maloney

    6 NOV.

    #45: BigLaw Insights from AmLaw Reporter Andrew Maloney

    In today’s episode, I dive into the significant trends and challenges shaping big law as we approach the end of 2024. Joining me is Andrew Maloney, a journalist at The American Lawyer who covers the economics and industry shifts impacting our profession.  We discuss the rise of business-minded strategies within law firms, focusing on key topics like partner compensation trends, mergers, and the evolution of firm culture. Andrew shares his insights on how these developments are changing the landscape and what we might expect as we move into 2025. From the dynamics of cross-border mergers to the impact of non-equity tiers on firm profitability, this episode is full of valuable perspectives on what’s next in big law. At a Glance: 0:00 - Introduction to today’s guest, Andrew Maloney 1:20 - Reflecting on the rapid changes in the legal industry in 2024 2:19 - Andrew’s path to legal journalism and focus on the business of law 8:09 - Emergence of the “business of law” and its impact on firm dynamics 12:05 - Major legal industry stories of 2024: top compensation trends and lateral moves 14:51 - Increased competition among top law firms and strategic expansions 15:52 - 2024 trends in law firm mergers and how they’re reshaping firms 19:05 - Laura’s reflections on post-merger outcomes and growth sustainability 22:44 - Case study: Chicago as an evolving legal market 26:04 - Predicting significant trends in 2025 28:09 - How upcoming elections may affect law firm talent acquisition and attrition 31:05 - New emphasis on the non-equity partner model as a profitability strategy 32:54 - Closing thoughts and a look ahead into 2025’s legal landscape Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life?  Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.  For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!  For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. How to reach Andrew Maloney: amaloney@alm.com  Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her: www.lauraterrell.com  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast

    34 min
  4. #44: Helping BigLaw Attorneys Navigate the Business Side of Their Law Firms

    30 OCT.

    #44: Helping BigLaw Attorneys Navigate the Business Side of Their Law Firms

    In today’s episode, I discuss some essential steps and common challenges that arise when attorneys in large law firms get frustrated in dealing with the business and financial side of their practices, and what their firms expect from them in that regard. We’ll explore why some lawyers resist engaging with financial aspects of the practice, how business professionals can better support lawyers, and discuss actionable ways to foster more cohesive teamwork within the law firm. At a Glance: 00:00 – Introduction to the episode 01:20 – Importance of collaboration between attorneys and business professionals 02:10 – How financial considerations have become critical for law firms’ success 04:04 – Why attorneys can resist engaging on business and financial considerations 07:07 – Potential impediments to business collaboration 11:15 – How assumptions around client expectations can misalign firm and client interests 13:10 – Breaking down financial and client billing requirements in a mutually beneficial way for clients and law firms 15:26 – Enhancing the collaboration of business professionals and legal professionals to assist in law firm profitability and success Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life?  Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.  For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!  For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her: www.lauraterrell.com  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast

    16 min
  5. #43: Avoiding BigLaw Mistakes in Business Development

    23 OCT.

    #43: Avoiding BigLaw Mistakes in Business Development

    Today’s episode focuses on business development challenges faced by both new and seasoned partners at large law firms. I provide practical strategies to help you define your unique value proposition, target effective marketing efforts, and seek client feedback.  You’ll find out how to address common pitfalls, such as spreading yourself too thin, failing to personalize follow-ups, and how to turn a past misstep into an opportunity for new business. At a Glance: 00:00 – Introduction to the episode   01:20 – Business development challenges faced by partners in large firms   02:07 – Defining unique expertise and avoiding the “jack of all trades” approach   03:23 – Finding a niche and standing out in a saturated market   05:10 – Evaluating the ROI of business development activities   06:17 – Personalizing marketing efforts and outreach for maximum impact   08:22 – Importance of follow-ups in deepening client connections   09:18 – Seeking client feedback and addressing past missteps   10:43 – Soliciting qualitative feedback beyond standard client surveys   12:19 – Evolving nature of business development for lawyers Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life?  Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.  For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!  For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her: www.lauraterrell.com  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast

    13 min
  6. #42: Value-Based Billing Strategies for Law Firms with Justin Ergler

    16 OCT.

    #42: Value-Based Billing Strategies for Law Firms with Justin Ergler

    In today’s episode, I am joined by Justin Ergler, a globally recognized thought leader in legal operations and legal procurement. We discuss the evolving role of business professionals in the legal industry and how value-based billing models are reshaping the traditional law firm structure.  With a global legal industry valued at $1 trillion, Justin shares his insights on alternative fee arrangements, the importance of building strong client-firm relationships, and how legal departments and law firms can optimize value while maintaining profitability. The episode offers practical advice for lawyers navigating the intersection of law and business, providing specific strategies to improve client service and communication. At a Glance: 00:00 – Introduction and Justin Ergler’s Background 00:02 – The Evolving Role of Business Professionals in Legal Operations 00:05 – The Billable Hour: Exploring Alternatives and Addressing Concerns 00:10 – Case Studies: How Alternative Fee Arrangements Work in High-Stakes Matters 00:14 – Trust and Transparency: Building Strong Client-Firm Relationships 00:17 – Communicating Rate Increases: The Importance of Tailored Approaches 00:22 – Understanding Client Needs: Business-Side Conversations with Law Firms 00:28 – The Legal Value Network: Elevating Business Practices in Law 00:36 – Closing Thoughts and How to Learn More About Legal Value Network Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life?  Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.  For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!  For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. How to reach Justin Ergler: justin.ergler@gmail.com https://www.legalvaluenetwork.com https://www.legalvaluenetwork.com/the-board https://www.linkedin.com/in/justinergler   Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her: www.lauraterrell.com  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast

    37 min
  7. #41: How Associates Can Avoid Derailing Their BigLaw Careers

    9 OCT.

    #41: How Associates Can Avoid Derailing Their BigLaw Careers

    In today’s episode, I address a critical issue that many associates in large law firms face—identifying and managing warning signs in their law firm careers before it’s too late.  I outline practical strategies to help associates understand what firms expect and how to recognize when they may be at risk, including getting ahead of the issue of low billable hours, handling situations where there is insufficient work in your office or practice group, and the dangers of poor communication and accountability.  At a Glance: 00:32 – Why law firms don’t provide roadmaps for associates and the need for self-awareness 01:20 – Early warning signs when associates are on the verge of trouble 02:34 – The importance of meeting billable hours and avoiding over-reliance on non-billable work 03:38 – Responding to work opportunities during vacation when billable hours are low 04:34 – Struggling to find work? Here’s what to consider 05:15 – Feedback: Why associates should proactively seek it from partners 06:14 – The challenge of working in a slow office and potential solutions 08:11 – When your practice group is slow: Short-term vs. long-term impacts 10:00 – Seniority issues: When associates outgrow their niche and how to pivot 11:45 – Administrative issues, timekeeping, and office presence: Why they matter 14:05 – Vanishing acts: The importance of communication and accountability Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life?  Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.  For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!  For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars.   Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her: www.lauraterrell.com  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast

    17 min
  8. #40: Navigating BigLaw to General Counsel and Beyond with Shauna Barnes

    2 OCT.

    #40: Navigating BigLaw to General Counsel and Beyond with Shauna Barnes

    In today’s episode, I am joined by Shauna Barnes, founding partner of the Barnes Beverage Group and former general counsel of Dogfish Head. With 15 years of legal experience in the beverage industry, Shauna shares her journey from BigLaw to in-house counsel, her pivot to founding her own firm, and how she navigated the challenges of balancing a legal career with family life. For lawyers in large law firms, Shauna’s story offers valuable lessons on how to shape a career path that aligns with personal goals and professional fulfillment. At a Glance: 00:00 – Introduction to the episode and Shauna Barnes' background 00:50 – Shauna's early career aspirations and decision to leave litigation behind 02:59 – Transition from BigLaw to Dogfish Head  05:09 – Decisions about work and personal life 10:50 – Securing the role of general counsel at Dogfish Head 15:19 – Culture at Dogfish Head and building the legal department from scratch 20:00 – Learning to manage and lead a team without formal training 28:54 – Founding Barnes Beverage Group and the transition to running her own firm 35:00 – Key challenges in running a virtual legal team and maintaining work-life balance 39:42 – Final thoughts on growth and leadership in a boutique law firm Rate, Review, & Follow on Apple Podcasts & Spotify Do you enjoy listening to Big Law Life?  Please consider rating and reviewing the show! This helps support and reach more people like you who want to grow a career in Big Law.  For Apple Podcasts, click here, scroll to the bottom, tap to rate with five stars, and select “Write a Review.” Then be sure to let me know what you loved most about the episode! Also, if you haven’t done so already, follow the podcast here!  For Spotify, tap here on your mobile phone, follow the podcast, listen to the show, then find the rating icon below the description, and tap to rate with five stars. How to reach Shauna Barnes SBarnes@DrinksLaw.com www.drinkslaw.com   Interested in doing 1-2-1 coaching with Laura Terrell? Or learning more about her work coaching and consulting? - here are ways to reach out to her: www.lauraterrell.com  laura@lauraterrell.com   LinkedIn: https://www.linkedin.com/in/lauralterrell/  Instagram: https://www.instagram.com/lauraterrellcoaching/  Show notes: https://www.lauraterrell.com/podcast

    42 min
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À propos

On Big Law Life, Laura Terrell and her guests discuss the strategies, steps, relationships and communications you need to navigate the world of large global and national law firms, from the perspective of lawyers, business and legal professionals, in-house counsel, and others with experience working in and around this environment. Laura dives into what you want to know about BigLaw but didn’t learn in law school and what wasn’t covered in your law firm orientation. To learn more about how she works with attorneys and to access her blog and resources, go to www.lauraterrell.com

Informations

  • Création
    Laura Terrell
  • Années d’activité
    2 k
  • Épisodes
    47
  • Classification
    Tous publics
  • Copyright
    © 2024
  • Site web de l’émission
    Big Law Life

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