Quality vs. Flash: The Real Formula for Sustainable Law Firm Growth

Growing a personal injury law firm isn’t easy. It takes grit, strategy, and a little willingness to look in the mirror and ask the hard questions. What many firms don’t realize, however, is that real, sustainable growth isn’t about flashy marketing campaigns or a slick office downtown. And while those things may make your firm look larger than life, they don’t create the engine that powers long-term success. At Vista Consulting, we’ve spent years working alongside law firms of every size. We’ve seen what works and—more importantly—what doesn’t. The truth is this: Growth that lasts is about depth, not dazzle. It’s about building the bedrock of quality systems, accountability, and efficiency. In this blog, we’ll explore the critical elements of sustainable law firm growth and how focusing on quality over flash will ultimately benefit your firm in the long run.

Defining Sustainable Growth

When we talk about sustainable growth, we aren’t talking about chasing the latest trend or inflating your numbers for a quick win. Sustainable growth is all about consistency and scalability. It's about building a law firm that operates like a well-oiled machine—one that stands the test of time.

Many firms focus on increasing the volume of cases they take on, adding more team members, or throwing cash at marketing to bring in leads. Don’t get us wrong—volume has its place. But focusing solely on surface-level metrics leads to cracks in the foundation. Without proper systems and processes in place, a firm that grows too fast can wind up bottlenecked, overwhelmed, or worse—losing cases and clients. We've seen it before. That's why we believe in a different approach.

Our philosophy is built on growth that sticks. No pixie dust, no shortcuts—just proven strategies customized to the unique goals and challenges of each firm we work with.

Flash vs. Quality—What’s the Difference?

It’s tempting to go for the flash. Flash gets attention. Flash might even get clients in the door (sometimes). But flash is fleeting. Quality, on the other hand, sticks. Quality is what keeps cases moving smoothly, clients coming back, and team members performing at their best. Here’s the breakdown of how these two approaches differ:

Flash

Quality

At Vista, we’ve walked into firms that look exceptional from the outside but are falling apart on the inside. There’s confusion about roles, toxic cultures, inconsistencies in case workflows, and financial reports that no one understands. That’s the kind of gap no amount of flash can cover.

The Blueprint for Sustainable Growth

Growing a law firm is as much about discipline and strategy as it is about vision. You need to know where you want to go, but you also need a roadmap to get there. At Vista, we’ve identified four core areas that firms must master to pave the way for measurable, sustainable growth:

  1. Operational Efficiency: Tightening up the internal machine is step one. Without an efficient operation behind the curtain, no firm can grow effectively.
  2. Accountability at Every Level: Growth isn’t sustainable without commitment and buy-in from leadership, team members, and managers.
  3. Transparent Reporting Systems: Firms that lack clarity in reporting don’t have the visibility needed to move the needle.
  4. Tailored Strategy: Cookie-cutter approaches don't work in our industry. Every firm’s needs and culture are different, and solutions must reflect that.

Each of these focus areas impacts the firm as a whole—from intake and case management to leadership decisions and client satisfaction. Here’s a closer look at how we tackle them:

Identifying and Solving Operational Weaknesses

No law firm—even the most successful—can get through the growth stage without encountering bottlenecks. Intake might feel chaotic, case progress might drag, or team members might be unsure of their roles. Sound familiar? These are the operational inefficiencies draining your firm's time, money, and momentum.

When we step into a firm, our first task is to map out the operation holistically. We analyze every aspect of the firm's workflow, from how clients are onboarded to how cases are finalized. A few of the areas we commonly improve include:

It’s these behind-the-scenes adjustments—far removed from the spotlight—that help firms transform into well-run operations. Sometimes, the needed adjustments are major overhauls. But many times, small, intentional adjustments can lead to better outcomes.

Accountability as an Engine for Growth

Inefficiency and lack of accountability are two of the biggest challenges firms face when trying to scale. Without accountability, even the best-laid plans fall flat. But accountability starts at the top—with leadership willing to drive change and foster team buy-in.

How do we foster accountability? Here’s how Vista approaches it:

Accountability isn’t easy to enforce—but when done correctly, it’s what gets a team rowing in the same direction toward long-term goals.

The Role of Transparent Reporting

Do your financial reports confuse you? Or maybe it’s your case management reports or client intake metrics that leave you scratching your head? Have you found yourself staring at month-end numbers, wondering what they really mean for your firm’s growth trajectory? You’re not alone.

Too many law firms operate with messy, inconsistent, or overly complex reporting systems. And when the data doesn't make sense, it’s impossible to make informed, strategic decisions. Here’s what we focus on when creating a transparent reporting system:

With an effective reporting framework, a firm can oversee cases, finely manage its people, optimize processes, and enhance overall performance with accuracy and clarity. Clear data fuels better decision-making, whether it’s deciding how to allocate marketing dollars or identifying the cases that need more attention.

The Vista Difference—Depth Over Dazzle

What makes us different? We are not the least expensive option in the market—because meaningful transformation demands meaningful investment. However, the value we deliver far surpasses the price.

Our clients consistently achieve the highest ROI in the industry because we don’t stop at offering advice; we implement actionable strategies that drive real results. Our mission is to help firms achieve sustainable, scalable, and profitable development that stands the test of time.

At Vista, we don’t sell you an empty promise wrapped in excitement. What we offer is real transformation powered by expertise and backed by results. Here’s what you won’t find with us:

Instead, we spend the time to truly know your firm—your culture, your goals, your struggles. We roll up our sleeves, dig into the details, and stick with you every step of the way.

Why Quality Wins Every Time

Focusing on flashy fixes might win short-term clients, but for lasting success, you need substance. You need a firm foundation built on operational excellence, team accountability, and smart strategy. Sustainable growth is hard work, but it’s also incredibly rewarding. And the firms that achieve it don’t just grow—they thrive.

At Vista, we’ve seen firms grow from disorganized to unstoppable. We’ve seen change-resistant teams become champions of their new systems. And we’ve seen how prioritizing quality over flash transforms how firms operate and how they win.

If you’re ready to go beyond the surface, we’re here to coach you through every step. No shortcuts, no gimmicks—just depth, expertise, and real results. Sustainable growth starts with quality, and quality is what Vista delivers. Connect with me today, and let’s start shaping the future of your law firm.

Connect with Tim

Understanding Law Firm Valuation: Key Considerations for Mergers and Acquisitions

Navigating mergers and acquisitions (M&A) can be daunting, particularly when valuing a plaintiff/contingency fee law firm. The process involves assessing a range of factors such as client base, revenue streams, market position, and intangible assets like brand reputation and expertise. As someone who has been closely involved in this field and advised on many M&A transactions, I want to share some insights that may help you understand the essential elements of law firm valuation. This knowledge empowers firms aiming for growth by allowing them to position themselves strategically in the market and provides crucial clarity for those considering selling, ensuring they receive a fair and comprehensive evaluation of their firm’s worth. Understanding these dynamics can make the complex M&A landscape more navigable and less intimidating. However, each potential transaction will have unique circumstances that must be addressed individually.

The Core Elements of Law Firm Valuation

Several critical components of law firm valuations require thorough attention to ensure a comprehensive understanding and accurate assessment. Valuing a contingency fee law firm differs from other business valuations due to its specialized nature and the unique factors influencing its potential worth. These factors include the firm's financial health, client relationships, and attorney expertise. Having a robust approach to evaluating these elements allows decision-makers to conduct more informed negotiations and strategic planning during the diligence phase and negotiations of price and terms. As we delve into these core elements, it's crucial to approach them with careful analysis and insight, setting a strong foundation for any merger or acquisition endeavor when either buying or selling. When it comes to evaluating a law firm's worth, there are four critical criteria to consider:

  1. Historic Profitability: A firm's past financial performance is a significant indicator of its value. While historical profitability is essential, more recent financial results tend to carry more weight. Potential buyers are often interested in how consistently a firm has generated revenue and maintained profitability over time. Also, when evaluating profitability, the buyer should be keenly aware of the role played by the “major” players at the firm. Can the firm continue profitability (potentially) without those players there?
  2. Operational Efficiency and Effectiveness: This criterion examines how smoothly a firm operates. Is the firm able to deliver its services efficiently, or does it rely heavily on brute force? The more streamlined the operations, the more attractive the firm is to potential buyers. And, remember, the firm should be able to function effectively without the seller, especially if the seller has been the primary driver of business.
  3. Current Case Inventory: The status of cases currently under the firm's roof plays a crucial role in valuation. A robust and high-quality case inventory is a positive indicator of a healthy operation. Additionally, the firm’s ability to replenish this inventory through effective marketing strategies is vital for maintaining value.
  4. Marketing Machine Quality: The effectiveness of a law firm's marketing efforts can significantly impact its valuation. Firms with strong marketing systems (or transferable referral sources) are better positioned to continuously attract new cases, which enhances overall enterprise value.

The Importance of Accurate Bookkeeping

Accurate bookkeeping by the target firm is a fundamental aspect of evaluating a law firm's financial health and plays a pivotal role in the valuation process during mergers and acquisitions. Maintaining precise financial records ensures that all financial transactions, including revenue generation and expenses, are recorded and assessed correctly. This transparency not only instills confidence in potential buyers but also facilitates informed decision-making by providing a clear understanding of the firm's fiscal standing. Accurate bookkeeping helps identify trends and anomalies that may affect a firm's valuation, allowing for timely corrective actions when necessary. For any law firm contemplating entering the M&A arena, robust bookkeeping is not just a practice but a necessity that underpins the reliability of its financial narratives. Too, if any expenses are being paid by the firm that could be considered an “owner perk” and do not further enhance the firm’s service delivery, they should be readily identified as these expenditures. They “should” not be present post transaction and should be accounted for appropriately in the valuation process.

Advanced case costs are a crucial component in the financial structure of a law firm, playing a significant role in the valuation process during mergers and acquisitions. These costs, often incurred upfront to support a client's case, represent a considerable investment on the firm's part and reflect its commitment to achieving favorable outcomes. The management of these costs is a testament to the firm's financial strategy and discipline. Prospective buyers must pay close attention to how such costs are tracked and recovered, as efficient management practices can greatly influence the perceived value of the firm. Properly documented and consistently monitored case costs demonstrate fiscal responsibility and ensure that the firm retains the potential for profitability upon successful case resolution. Understanding and overseeing these costs with diligence is imperative for any law firm seeking to maintain an attractive financial profile.

Understanding Asset Value and Liabilities

Understanding “hard” asset value and true firm liabilities is essential for accurately assessing a law firm's financial health during M&A activities. In addition to goodwill and operational metrics, tangible assets and liabilities also contribute to a firm’s value:

By examining both tangible and intangible assets, such as office properties, intellectual property, and client relationships, alongside liabilities like debts and pending legal liabilities, stakeholders can gain a comprehensive view of the firm's fiscal position. Recognizing the balance and interplay between these components will foster informed decision-making and negotiation strategies, ultimately ensuring a fair and representative valuation in the complex landscape of mergers and acquisitions.

Setting a Baseline for Negotiations

In any M&A transaction, setting a baseline for negotiations is a strategic process that lays the groundwork for productive discussions. This baseline serves as the foundation upon which all parties evaluate their positions and establish reasonable expectations. An accurate and well-substantiated baseline helps to mitigate misunderstandings and discrepancies during the negotiation phase by clearly defining the initial value propositions and financial benchmarks. By thoroughly understanding the key financial indicators, operational efficiencies, and strategic objectives, stakeholders can craft a negotiation strategy that aligns with their goals while ensuring that all parties recognize the true value of the deal. Once a firm’s foundational value is established, the negotiation process with potential buyers can begin. Buyers will need to consider several factors:

The Role of Terms in M&A Transactions

The terms of a deal play a pivotal role in shaping the final outcome and success of a transaction. These terms meticulously outline the rights, obligations, and expectations of all parties involved, providing a structured framework for the entire M&A process. It is crucial for both buyers and sellers to carefully consider and negotiate these terms to prevent potential disputes, ensure equitable agreements, and protect their respective interests. These terms encompass a wide range of components, including purchase price adjustments, representations and warranties, indemnities, and closing conditions. Each has the potential to significantly impact the financial implications and operational synergies of the deal. A misstep in negotiating a seemingly minor detail can lead to significant ramifications post-closing. Therefore, it's essential for firms to engage experienced legal and financial advisors to navigate these complexities and establish terms that align with their strategic goals while mitigating potential risks. Here are some specific terms of a transaction to consider:

Vista is Your Trusted Partner

Understanding the nuances of law firm valuation is essential for any firm considering a merger, acquisition, or sale. By focusing on profitability, operational efficiency, case inventory, and marketing strength, alongside accurate bookkeeping, firms can present a clear value proposition to potential buyers. As the landscape of M&A continues to evolve, staying informed and prepared is the key to success. Some have said that “If you are not at the table, you may be on the menu!” Though I do not believe the environment is quite this harsh, there may be some truth in this quip.

Are you currently involved in the M&A market or considering diving in? Navigating the complexities of mergers and acquisitions requires meticulous preparation and strategic insight. Whether you're a buyer seeking to expand your portfolio or a seller aiming to maximize your firm's valuation, it's imperative to conduct a thorough market analysis, assess financial health, and strategize effectively. Attaining a fair agreement, understandable transaction value, and reasonable terms are always our goal. Utilizing expert guidance can significantly enhance your approach, ensuring that all critical factors are considered, and opportunities are optimized. As an experienced M&A advisor, I am here to assist you every step of the way. Feel free to reach out to explore potential strategies and ensure you achieve your M&A goals with confidence and precision. Our experience spans both small and large deals, ensuring that we can provide valuable insights and guidance throughout the valuation and negotiation process.

Understanding the Law of the Harvest: You Reap What You Sow

Farmers are a resilient and risk-taking bunch. Season after season, elements out of their control affect their success or failure. They are at the mercy of the scorching sun, drenching rains, and driving winds. Those factors have a very real impact on their outcomes. Despite these challenges, the most successful farmers focus their energy not on uncontrollable circumstances but on meticulously managing the factors within their realm of influence. This strategic approach allows them to adapt, thrive, and cultivate success in the ever-changing agricultural landscape.

The farmer diligently prepares the field for each season’s planting. They carefully remove unwanted weeds, fertilize the soil to enrich it, and ensure proper irrigation for optimal growth. Gathering the right tools and equipment, along with skilled labor, they embody readiness as the cornerstone of their path to success.

But… do you suppose that a farmer ever prepares the land, then plants potatoes at planting time, and at harvest time is surprised that watermelons have not grown? Of course not, farmers are smarter than that. They know you reap what you sow. Planting potatoes yields potatoes not watermelons… this is a well known farming fact. Why would we plant one crop and expect another? We should not, and for this very reason I have developed a saying, a rule of sorts…it goes like this… “Don’t plant potatoes if you want watermelons.”

Sounds Simple Enough, Right?

A few springs ago, a family of raccoons (just coons, if you are from Southwest Mississippi) took up residence in my attic. It may sound funny to you, but to my wife and daughters, this was no laughing matter. I was charged with ridding the house of these unwanted visitors. So, I secured a “capture alive” trap from my local animal control office and set about trapping the intruders. I was informed by the animal control officers that Baton Rouge raccoons love cat food. Now the only coons I knew about (the Southwest Mississippi version) loved corn out of Mr. Bill Trask’s fields or odorous leftovers out of unattended garbage cans. But what did I know? I used to be a country boy, but now I find myself in the city. I followed the instructions of the experts, and I baited the trap with cat food.

It was only after I let one extremely irritated cat out of the trap at 3:30 am, while dressed only in my tighty whities, that I realized I had broken my own rule. When you bait with cat food, you catch cats, not coons. I went back to my roots, back to what I know, and baited the traps with what I know coons like. Unsurprisingly, I eventually caught all the raccoons. After making the difficult decision not to release them near some of my best friends’ homes (kidding), I couldn’t shake the idea of reaping what you sow. What a painfully simple fundamental, yet how often do we ignore it? How often do we find ourselves expecting one thing but doing another?

You Get What You Give

If we treat our kids disrespectfully, why do we expect them to treat us respectfully? If we practice our chosen sport lackadaisically, why do we expect to play well during the game? If we do not prepare for business meetings or master the knowledge of our products or services, how can we expect to help our customers to the extent they will become repeat purchasers? We cannot sow negativity and expect positivity. We cannot plant seeds of doubt and reap a harvest of confidence. Our actions have consequences, and what we put out into the world will eventually come back to us in some form or another. Expecting watermelons when potatoes are planted is akin to insanity.

Reflecting on these truths, it’s clear that the principle extends beyond the tangible—reaching into the very essence of our character and intentions. It begs us to ask, what are we truly planting in the gardens of our lives? The beauty of this metaphor is that it grants us the power of choice. Each day presents a new season, an opportunity to cultivate the qualities we wish to see embodied in ourselves and mirrored in those around us. Just as a farmer tenderly tends to his crops, we too must conscientiously tend to the fields of our actions and thoughts. For in the grand harvest of life, we will indeed gather what we have sown.

Control the Controllables

In life and business, much like in farming, there are elements beyond our grasp, forces that shape the outcome of our efforts in ways we can neither predict nor alter. The stark reality is that despite our most fervent efforts, the diligence with which we prepare, and the precision of our actions, success is not always guaranteed. Treating children with respect will not guarantee they will always be respectful. Practicing extremely hard will not guarantee a sporting victory. Knowing your stuff in business situations will not guarantee delighted customers.

We live in a world replete with variables, where the unexpected can and often does occur, throwing our best-laid plans into disarray. It’s a humbling reminder that although we have the power to influence our surroundings and mold our outcomes to a certain extent, we are not the sole authors of our destiny. The ground we till, the seeds we sow, and the care we invest do not always yield the harvest we envision. I would argue, though, that this should not deter us but instead motivate us to focus on the aspects of our lives we can control—to tend to our fields with even greater care, knowing that while the harvest may not always be what we expect, our efforts are never in vain.

There is one promise I can make you: not preparing will guarantee failure. Oh sure, a blind squirrel finds an acorn every now and then, but is that how you want to live your life? Hoping you are lucky? I don’t.

Life is a Series of Risks

By doing what we need to do to put ourselves in the place of most potential to succeed, we will certainly increase our “batting average” in our quest for successful life experiences and business ventures. But what happens when we do all we can do? We have worked with our children regarding respectfulness, practiced until we could play the sport in our sleep, and prepared for the meetings until every answer is automatic… yet the sun scorches, the rain drenches, and the winds shred our crops? Should we crawl into the proverbial hole and wait for the next natural disaster? Of course not. Hold your head high and set your sights on trying again. Persevere!

Successful people, regardless of their chosen profession, mitigate risks as much as possible by putting themselves in the place of most potential. They also understand fully that without risks there would be no reward. And not only no reward, but no excitement either. Teddy Roosevelt put it very succinctly when he said, “A soft, easy life is not worth living if it impairs the fibre of brain and heart and muscle. We must dare to be great, and we must realize that greatness is the fruit of toil and sacrifice, and high courage… For us is the life of action, of strenuous performance of duty; let us live in the harness, striving mightily; let us rather run the risk of wearing out than rusting out.”

Are you half-heartedly stumbling through life, dejected because you planted potatoes and expected watermelons? If not, I bet you are excited about today and even more so about tomorrow. To put it simply, I bet you’re not going to rust out.

If you have planted potatoes and expected watermelons, all is not lost. In fact, there is great news: yesterday ended last night, and today, watermelon seeds are on sale! All you have to do is sow them!

Forget the Foxes: Hedgehogs are Way Cooler

For most entrepreneurs (read: business owners), their world revolves around scanning the horizon for the next great void or need in the market. Once found, exploring a way to fill that void and solve a problem or bring good feelings to the market (while creating a profit for the entrepreneur) sometimes becomes an obsession.

At times, that obsession or exploration results in a loss of focus in the business or operation that brought initial emotional and financial success to the entrepreneur. This can be dangerous in many ways. Obviously, if focus is lost, operational inefficiencies can creep into systems and processes, causing a slowdown in production, degradation of product/service quality, and, ultimately, reduced profitability in the “core” business. Extreme care should be taken as new “target” businesses or product lines come into view.

Well…those who know me personally may know my deep affection for books…. especially the classics. No, not the kinds of classics like Homer’s Iliad and Odyssey…but the business books and quality of life books that have stood the test of time…or at least time enough for me to think they are classics. Books like Stephen Covey’s The Seven Habits of Highly Effective People and Dale Carnegie’s How to Win Friends and Influence People.

Lessons Learned in Good to Great

Still under consideration by the world…but a slam dunk as a classic in my mind is the 2001 publication of Jim Collins’ Good to Great. In it, Collins defines the characteristics of great companies. Those characteristics are:

  1. Have Level Five Leadership (Disciplined People)
  2. Develop the Ability to Order Priorities: Know First the Who and then the What (Disciplined People)
  3. Have Ability to Confront the Facts (Disciplined Thought)
  4. Adhere to the Hedgehog Concept (Disciplined Thought)
  5. Create a Culture of Discipline (Disciplined Action)
  6. Pay Close Attention to Technology Accelerators (Disciplined Action)

It is interesting to me that some of the companies in Collins’ book used as examples of great companies are, sadly, no longer great. It is not that Collins was wrong about what made those companies great. So, why the change for them? They ceased holding dear and following the characteristics. In short, they got lazy and complacent, had a leadership change, and lost focus or drive.

What Could All This Possibly Have To Do With Hedgehogs?

Obviously, I highly recommend that you acquire and read Good to Great studiously. At a minimum, get a book summary. (As a side note, I subscribe to three book summary services for efficiency in what I want to buy and dig deeper into. They are a great time saver for information digestion and then prioritization.) The concept I want to focus on is in the chapter on the Hedgehog Concept (Simplicity within Three Circles).

This concept was born out of an essay, “The Hedgehog and the Fox,” by Isiah Berlin. Berlin divided his view of the world into hedgehogs and foxes. “The fox knows many things, but the hedgehog knows one big thing!”

Foxes pursue many wildly disjointed ends at the same time and see a very complex world. The hedgehog simplifies complex things into a single organizing idea, a basic principle or concept that unifies and guides everything. Anything that does not relate to the hedgehog holds no relevance. Hedgehogs see what is essential and ignore the rest.

The Hedgehog Concept is not just about focus but about profound understanding. It involves discerning what you can be the best at, deeply comprehending what drives your economic engine, and knowing what you are deeply passionate about. Imagine these three aspects as intersecting circles where the confluence represents your Hedgehog Concept. Businesses, according to Jim Collins, thrive not by being a jack-of-all-trades but by channeling their resources towards a single, intersecting point they can master. The Hedgehog Concept is about achieving excellence through simplicity, doing one thing exceptionally well rather than being mediocre in many areas. It’s about making strategic choices to hone the unique aspects that give you a competitive edge, and it requires discipline, insight, and often, hard choices.

So, as an entrepreneur, one must identify his/her Hedgehog Concept. At Vista, our Hedgehog Concept is “Assisting/helping our clients help theirs as efficiently and effectively as possible.” Full stop. If something we are doing does not help our clients, we will not consider doing it! If we can be good (maybe great) at something that does not help our clients, we won’t do it. If we are passionate about something that does not help our clients, we won’t do it. If we can make a ton of money doing something that does not help our clients, we won’t do that either. Do you see a pattern here?

Collins’ belief, and mine, is that Hedgehog-focused businesses consider three guiding principles that, when viewed together (as in a Venn diagram), drive decisions. The principles/questions to consider/answer are:

  1. What can we be the best in the world at? (The Vista Team is the best in the world at what we do. That is stated as fact by me and not an opinion.)
  2. What are we deeply passionate about? (Our team’s passion is one factor in what makes us the best in the world!)
  3. What drives our economic engine? (We operate profitably!)

The Power of Focus

Does staying focused and the Hedgehog Concept make sense and work for you? It certainly does for me.

Where are you on the continuum of focus? Most of us fall somewhere in the middle…focused but always looking for that next hole in the market to fill that will NOT take us away from our individual Hedgehog Concept. As businesses grow, job functions and objectives do change. Though an entrepreneur may have initiated a business path, he/she may have delegated some of the focus work to others within the core operation. This is not bad as long as he/she does not divert too many resources to any potential new “shiny object.”

The activity required to grow businesses and law firms can be a tricky proposition. What new product lines are close enough to your Hedgehog Concept to be okay? And which are too far away and will cause a lack of focus and dysfunction within your core systems, processes, and team?

I do not have the answer, as every situation is unique. Yet recognizing the situation, working with your internal leadership, and gaining external advice will force a level of discernment that is required in these types of important business expansion decisions. You may not make the right decision, but please, please, please make the decision right! In other words, be a Hedgehog. They are really cool.

Paving the Way to Success: Preparing Your Firm Before Hiring a COO

As business consultants to the plaintiff law firm industry, a question we are often asked is, “Is it time for our firm to hire a Chief Operating Officer (COO)?” And, like any good consultant, our answer is likely to be, “It depends.”

Hiring a COO is a significant step for any law firm. It signifies a commitment to growth, efficiency, and strategic management. However, the process of hiring a COO should not be rushed or taken lightly. It requires careful planning, foresight, and a clear understanding of your firm’s needs.

Before welcoming a new COO on board, there are several essential steps that law firms need to undertake to set the stage for their success. In this blog, we’ll cover the role and key attributes of a great law firm COO, why taking note of your current firm position is vital, and how a needs assessment can help set your new hire up for success.

The role of a COO in a law firm

A COO’s primary role is to ensure the efficient functioning of a law firm. They oversee daily operations, create operational strategies, manage firm resources, work closely with the owner, and provide a cogent liaison with all other team members to execute the firm’s vision.

It’s important to understand that the role of a COO in a law firm also extends to fostering a culture of continuous improvement within the organization. The COO is often tasked with identifying and implementing best practices, streamlining processes, and deploying technology to increase efficiency. They are not just managers, but leaders who drive change, inspire team members and cultivate an environment that encourages innovation and adaptability. This unique blend of operational acumen and leadership prowess makes the COO an invaluable asset to any law firm, ready to steer the ship through both calm and turbulent waters.

A COO can bring a wealth of experience and expertise to your firm, but their impact is significantly enhanced if they have a clear roadmap to guide their initial steps.

The importance of identifying your firm’s current landscape

A firm needs assessment is like a health checkup for your firm. It provides an unbiased view of your firm’s current status, identifying strengths, weaknesses, opportunities, and threats. It helps pinpoint areas that need improvement and highlights potential areas for growth.

When you hire a COO or other operational personnel without first conducting a total firm needs assessment, you’re essentially asking them to find their way in unfamiliar territory without a map. They may eventually figure things out, but it will take time, effort, and possibly a few wrong turns along the way. These wrong turns can be dangerous and costly.

On the other hand, when you provide your new operational team member with the insights gained from an assessment, you’re equipping them with a roadmap that clearly outlines the firm’s current landscape. They can hit the ground running, knowing exactly what issues need to be addressed, what priorities to focus on, and what strategies might work best.

Without knowing the efficiency and effectiveness of the firm’s current operational workflow, cultural health, and the quality of its infrastructure, just about any answer to any operational question would be a guess. However, by undertaking a total firm operational assessment, most of the guesswork can be removed. If the assessment yields affirmation that the firm is functioning extremely well in most areas, the need for a C-suite level employee may not be needed at this time. Possibly an experienced office manager or another operational team member may be able to provide the oversight needed, or a group of functional area managers could meet the perceived need. In any event, the overall firm needs assessment will grant you the knowledge needed to make a well-informed decision on the type of hire needed and if a hire is needed at all.

Know where you’re going

The real power of the assessment lies in its objectivity. It’s a third-party analysis that takes into account various aspects of your firm – from financials and operations to team dynamics and client relations. This comprehensive view eliminates internal biases and provides a balanced perspective that a new COO might not be able to achieve until well into their tenure.

The resulting report from an assessment serves as a strategic tool for the firm. It not only highlights the areas that require their immediate attention but also offers recommendations for action. This enables the new team members to make impactful decisions right off the bat, gaining early yardage and fostering a sense of momentum. Having the roadmap (assessment report) in place before hiring shows that your firm is committed to growth and improvement. It sends a clear message to your operational hire that you value their role and want to set them up for success. It also fosters transparency, showing them that you’re willing to look at your firm objectively and work on areas that need improvement.

The skills needed for success

Hiring leaders in operational positions is always a significant investment for any business, let alone plaintiff law firms. It’s a decision that can steer your firm toward unprecedented growth and success. However, to truly maximize their potential, it’s crucial that you, as a firm leader, identify team members who possess some critical skills needed to navigate your firm’s culture and landscape. Along with providing these new team members with a roadmap, certain interpersonal characteristics critical for COOs also allow for an improved likelihood of success. Here are some key skills to look for when hiring a new COO:

  • The ability to be a good communicator and coach.
  • A knack for leading with a balance of caring AND being firm.
  • Being intuitive about talent and identifying “right-fit” team members.
  • The ability to squash drama in its many forms in the workplace.

Seeing the big picture

Providing any COO or operational personnel with a roadmap by undertaking a firm needs assessment AND hiring for the right interpersonal skills will boost the batting average of a successful hire, increase firm operational effectiveness, and improve profitability. This approach provides a clear and systematic roadmap for a Chief Operating Officer or operational personnel, ensuring that each step taken aligns with the organization’s broader goals and objectives. With a team composed of individuals whose abilities match the organization’s requirements, there’s a natural boost in productivity and efficiency. The ripple effect of this improved operational effectiveness inevitably leads to enhanced profitability, creating a healthier bottom line for the firm. Too, the added benefit will be an overall better culture and a much happier team. Ultimately, undertaking a firm needs assessment and prioritizing interpersonal skills in hiring are not merely administrative steps, but strategic moves that can transform an organization. These processes are pivotal in driving success, enhancing profitability, and fostering a vibrant, inclusive culture that makes a company not just a good place to work, but a great one.

Putting First Things First: Why Winners Always Remember the Fundamentals

“Gentlemen, this is a football.”

Vince Lombardi - Championship Coach, Green Bay Packers

“First, let’s talk about how we put on our socks and lace our sneakers.”

John Wooden - Championship Coach, UCLA Bruins

These quotes from a couple of renowned sports coaches shocked their players. The athletes comprising the successful teams who received these messages were likely initially thinking, “We made it this far, to the pinnacle of professional and college sports, for our leader to start our first practice as if we are novices. Give me a break! Let’s learn and practice the new, cool stuff!” The reality is that these coaches understood the true importance of mastering the fundamentals of the game. Often success in life, and even in sports, revolves around the basics. Performing well on the little things leads to larger successes. No matter how knowledgeable we are about a particular subject or technique, if we do not have a firm understanding of the fundamental principles, our work will suffer.

Surprise… real winners practice and study the “old” stuff that made them successful in the first place! And they also keep first things first. Basics are just that, BASICS! And practicing the home run trot prior to learning to hit is folly. When I was a kid, I had a good friend who would spend hours practicing “spiking” a football after a touchdown. It was a bit ironic that he had an awfully challenging time catching a pass. Possibly he was practicing the wrong thing. He was definitely not putting first things first! In this blog, we’ll explore the concept of understanding the fundamentals and why winners always get the small stuff right.

Where do YOU put your effort?

Where do YOU start? What do YOU and your team practice? Being sound fundamentally and putting first things first ARE the keys to success. Full stop! In the business world, this same philosophy applies. Successful companies understand the value of fundamentals and make sure their employees have a thorough understanding of them. When launching new initiatives or projects, it is not enough to jump in and start with something cool or exciting; instead, businesses must take the time to understand the foundational principles and ensure they are correctly applied.

If your team has been trained and is successful in providing quality legal services in a pleasing way, great. But are you consistent? Practice makes perfect…. or keeps you exceptionally good if perfect is a stretch! We all need to be kept abreast of what fundamentally good really is. We do not need to relearn…just know how to deliver the basics consistently. The famous theologian, playwright, and philosopher, Samuel Johnson, was quoted as saying, “People need to be reminded more than they need to be instructed.” How true! Consistently good beats occasionally great a remarkably high percentage of the time. How often does your firm retrain? Remember….we forget quickly!

There are times when the Vista team is assessing or consulting with a client that a topic arises, early on, related to a nuanced protocol for an intake or case management procedure. We do our best to say something like, “Back the truck up!”, let’s work on the more routine protocols and practice those to excellence prior to moving to step 2….or 10. Fundamentals are there for a purpose and should be fully understood and implemented prior to the fancy moves.

Fundamentals before flash

It is sexy to do the cool stuff, show off, have flash, and concentrate on sales to the exclusion of high-quality operations. But without the fundamental training and skills in place to perform the basics, you will appear woefully inept and do a severe injustice to those you are attempting to serve.

Let’s go back to the analogy of an athlete. If I wanted to be a great basketball player, it might start with dribbling and shooting free throws. Once I master those fundamentals, I can move on to the crossovers and behind-the-back passes. But if I want to show off a cool move in my very first game, I will likely fail.

It is the same in our professional lives. If you have not mastered the basics of your profession, you are doomed to failure before you start. Start small and keep it basic. Have a plan and take the steps. Build up knowledge and experience with each step. Learn from mistakes – either yours or someone else’s – and keep going. Once you have the basics down, you can move on to more complex or creative projects and ideas that will help you move forward in your career. Don’t try to run before you can walk. Put in the work and the time and reap the rewards of diligence and hard work.

The mistake of running before you can walk

Some clients immediately ask us if increasing their sales spend is wise. Maybe, but, assuming the spend yields more clients, can they serve them in a “world-class” way? Suppose a new restaurant is supremely successful in marketing…but skips the practice of instilling the fundamentals with the wait team and chef? Well….lots of customers will come….one time.

This is no way to build a following. And a “following” is what we all want. We want repeat customers, or at least for those customers to become our fans and advocates and refer their friends, family, and business associates to us. Without a sound basis for providing fundamental services, we fall very flat, very fast. It is important to put first things first!

Show up and put in the work

There are many more Jerry Kramers than Deon (Prime Time) Sanders. If you don’t know Jerry Kramer, he was the right guard on Lombardi’s champion Green Bay team. Not flashy, but sound, did the hard boring work, day in and day out. Kramer may not have had the most talent, yet he performed consistently good and often great. A “Prime Time” superstar comes along occasionally, yet we shouldn’t depend on a superstar. Talent is on a bell curve and most of us live on the downward slope of that curve. Hard work on the fundamentals and consistent training paves the way for a rewarding and successful career.

At Vista, we live in the fundamentals and enjoy the exercise of identifying the tasks that should be learned and tackled first. You won’t find much flash or sizzle with us. But the Vista steak is the best there is. We like it that way, and so do our clients! We don’t compromise quality and excellence to get faster results or bigger rewards. We do it right the first time, every time. The payoff? A satisfied customer base that grows with each success. That’s how we measure success – happy clients who come back again and again. Getting the fundamentals right can lead to a deeply satisfying and rewarding professional career.

The Seven Pillars of a Happy Holiday Season

For many professionals, the holidays can be a time of increased stress and strain. Not only are we still juggling our home and work lives, but we have loads of extra events, tasks, projects, and responsibilities. These extras must be worked into our already hectic lives. The resulting added stress can create massive burnout, which can diminish our enjoyment of the season. Running yourself into the ground just before the start of a new year sets you and your firm up for frustration and slowed forward progress. Don’t allow yourself to fall into the trap of holiday burnout! Approach this season intentionally, aware that moderation and motivation can find a harmonious balance, allowing you both space for quiet and community. Here are the seven pillars to help you maintain your balance during the holiday season:

Say NO!

Be conscious of how many extra tasks you take on. It’s ok, in fact, it’s HEALTHY to say NO frequently and often, especially during the holidays. Consider which activities you enjoy the most during the holidays and create parameters regarding what you will and will not take on. Set this plan in advance so that you aren’t agreeing to or declining activities in a haphazard manner. This strategy will allow you to say no without guilt. You’ll get a lot of asks during this month for both personal and professional events. That’s okay! If you’re willing to set a plan and stick to it, you can decline invitations kindly and respectfully with the understanding that you’re keeping your plate as full as you’d like it to be.

Create boundaries

It becomes very tempting to blur the lines between your home and work lives during the holidays. Avoid crossing boundaries as much as possible! Stick to working during your scheduled work hours. When you’re at work, focus on work. When you’re at home, focus on yourself and your wellbeing. Keep those boundaries clearly defined. Your mind will stay focused, and you will feel far less role conflict when you create clear boundaries in your life. When lines become blurred, it can be easy to lose sight of your intentions, goals, and priorities.

Set and manage expectations

None of us can “do it all,” especially as the end of the year introduces mounting pressures. Be reasonable when scheduling out business goals this month. December is a month with lots of vacation requests, so you’re likely not operating at full capacity in the office. Take that into account as you look at tasks to accomplish by the end of year and be sure you are setting yourself and your team up for success. Consider creating department deadlines that factor in a reduced number of team members. As needed, re-assign tasks or projects to accommodate. Keep meetings short and on task and use reports to ensure that the office remains on track no matter what the vacation calendar looks like. Finally, communicate holiday business hours to your clients so they understand response times and office closures well in advance.

Look out for your coworkers

At Vista, we don’t use the word, “staff.” We use “team member.” We believe that every single employee is part of a team working with the firm mission and vision in mind, and working on a team means supporting teammates as needed. Look out for your teammates at this time of year. Do you see signs of burnout? Do you notice a coworker who seems uncharacteristically irritated, is experiencing an unusual lack of production, is calling out sick, or isn’t as engaged as normal? This can be a tough and stressful time of year, and your colleagues may be going through a difficult period. Take the time to practice some space and grace and lift each other up. Be sure to actively listen to your teammates. Work with each other to solve problems, validate emotions, and raise the white flag if needed.

Practice self compassion

When a friend or family member experiences a difficulty, a stressful situation, or a work setback, take note of how you speak with that person. Likely, it’s with compassion and understanding. Now listen to the voice in your own head as you look at your to-do list, experience a difficulty, or make a mistake at work. Do you grant yourself the same compassion you inherently grant those you love? Studies show that practicing self compassion actually helps us grow by allowing for setbacks to foster growth. Self compassion is always an important muscle we should flex, but it’s even more important during a busy and stressful time of year when we feel pulled in different directions and need some positive self-talk.

Take time to give back

When you feel the grip of holiday pressure taking over, consider a positive move that can serve to lift spirits and put things into perspective. Giving back to your community can help alleviate depression and focus frazzled energy. This could be individual volunteering or something that involves the whole firm, like a toy drive, a canned food donation station, adopting a family in need, a meal drive, or another local volunteer activity. These activities help cement your firm in the community, give you a break from personal and work stress, unite your team, and hopefully spread some cheer and uplift others along the way!

Don’t forget your holiday spirit

This time of year should be filled with joy, gratitude, and happiness. So, remember to enjoy the holidays. Congratulate yourself for following your plan for the holidays, saying no when needed, and focusing on what’s important. Don’t spend time worrying about what you couldn’t do. Instead, focus on what you did accomplish and congratulate yourself for another year of hard work and a bright future ahead. You have the tools to help yourself and your team through a holiday season.

Wishing you an end of year filled with peace, love, and joy!

If You’re Not At The Table, You May Be On The Menu

This is not a technical writing. There will be no exact dates and times of state law changes either historical or prospective, no bar association rule citations or even guideline quotations. No, the thoughts and opinions contained herewith are my own and based on one of my specific tasks associated with my position with our consulting firm. That task is one of always being a professional observer.

Over my 40-year professional career, I’ve observed some very disruptive business changes in the commercial banking and accounting professions. The next disruption that’s well underway is in the legal profession. Before we dig into the current law firm business evolution, it may be worthwhile to review the causes and effects of the changes in the business models of banks and accounting firms.

The Evolution of an Industry

Banks first began the practice of larger banks gobbling up smaller, mostly community, financial institutions in the late 1970s and 1980s. Bigger, more progressive banks saw potential economies of scale in operational functions and the ability to automate transactions as new technology emerged. Interstate banking laws were also being relaxed at that time. Since those early days of bank mergers and acquisitions, a cycle has become apparent. Big bank swallows smaller bank…the combined entity functions well and grows even more…however, service to smaller customers begins to suffer and the market begs for a fix…new community bank specializing in stellar customer service emerges…and the cycle starts all over again.

Next comes the accountants, a group stereotyped as very slow to innovate and change. It is ironic that the accounting industry was somewhat quick to recognize and seize upon an opportunity. When I started my accounting/CPA career in the mid-eighties, there were eight very large accounting firms in the country that serviced mostly public companies by providing audits and tax advice. Yet they also assisted usually larger, privately owned businesses and their owners as well. I joined one of those firms, Deloitte Haskins and Sells. At DH&S, I quickly realized how impersonal the service was. Of course, we worked with people…. yet we served the public…at least in the audit arena. Audits, in the true accounting sense of the word, are intended to present financial statements/information in a uniform manner (Generally Accepted Accounting Principles: GAAP) that express the fair representation of a company’s financial position.

In any event, through mergers and acquisitions, these eight firms, known back then as the, “Big Eight,” are now down to what I call the, “Final Four.” The theory providing the push to merge was just the same as with the banks with a potentially broader service array and economies of scale (efficiency!). Yet this time there was a twist! An ethical rule change promulgated by the American Institute of Certified Public Accountants now allowed non-CPAs to be partners (owners) of these firms. What? Non-accountants owning an accounting firm? This was heresy…. for about an hour or so as the firms adjusted to management consultants and advisors without a CPA certificate providing valuable business services to clients. More service, more money! I actually love this model (if we can sell cups, let’s sell lids and straws too.) Also, as you may have guessed, there are still plenty of smaller, independent accounting firm partnerships and solos that provide services to the masses that are not public entities or large enough to pay the Final Four’s rates. Specialty and superior service will always be in the mix!

The Legal Industry Faces Changes to Business Structures

In my view, the wheels of change in the legal industry have begun turning. Just like the flywheel analogy in Jim Collins’ book Good to Great, it will turn slowly at first and require lots of effort, but soon it will be spinning on its own with only slight touches. The Washington DC and Arizona Bar Associations have now provided guidelines for ethical ownership of law firms by non-lawyers. (Isn’t it interesting how ethics change from state to state? My high school civics teacher was fond of saying “ethics is ethics.” But I guess not in these matters!)

These first few Bar association ethical rule changes will likely create a domino effect. How long will it take? There’s no way to say for sure, but it IS coming. Vista has been fortunate enough to “get behind the green curtain” of over 150 plaintiff firms in the US and Canada, and we hear the discussions and desire for more efficiency and potentially broader service offerings. The most progressive firms smell change coming and are not afraid of it. These firms are listening to the businesspeople that are creeping into the lawyer/law firm space, just as the banks and accountants did. The barrier to entrance as an owner of a business that happens to practice law is eroding before our eyes. There is even a new acronym flying around the legal industry now… ABS (Alternative Business Structures).

What does all this mean for the legal industry? For starters, it means that firms should be doing even more of what they should have been doing all along – running a law practice as a business. They should be working ON their business as much as IN their business. Being good at practicing law is not good enough to assure success anymore. Being good at practicing law is a “table stake”; it gets you in the game, but it does not assure financial success…which is a key ingredient to any viable business. Now successful marketing, efficient and effective operations in intake, case management, reporting, HR/training, accounting, and client relations are just as important, if not more so, than “being a good lawyer.” Without clients and referral sources, where will new business come from?

The Choice is Yours

Will you and your firm be at the table looking for firms with which to align or on the menu of firms being eyed for consumption? Non-lawyer owned firms AND progressive lawyer owned firms will certainly be looking at ways to improve and expand services through merger and/or acquisition. As we have seen with other professional service industries, there are both pros and cons to this steamroller heading toward the law firm industry. The one thing I hope YOU won’t do is ignore what is coming.

Some questions that you may consider as you think through your firm’s current market position as either a buyer or seller are as follows:

For buyers:

  1. Has the target firm been profitable in the past?
  2. Does the firm have a budget or projection of future gross revenues and net income?
  3. How confident are you in the accuracy of #2 above?
  4. How dependent is the firm on a single or a few personalities? If they are leaving, is there a cogent transition plan?
  5. Might you need “stay” agreements with key personnel?
  6. Are the practice areas ones with which you are familiar or are you intentionally acquiring a new area(s)?
  1. How confident are you in the target firm’s accuracy of reporting? Are they currently utilizing reports in firm management (financial and operational)?
  2. How is the firm structured?
  3. Are there strong leaders in the proper positions? Will they stay?
  4. If the firm needs better management, can your team handle that? What will it take away from your current day to day responsibilities?
  5. What are the terms with which you are comfortable regarding payment? Cash up front, financial institution funding, seller financing, earn out, or combination?
  6. Do you have an intermediary to assist with negotiation?

For sellers:

  1. How effectively would the firm run if current owner is not at the helm?
  2. What would the transition plan look like?
  3. Will your management group and leaders stay with a new owner?
  4. Do you have a budget or projection of future gross revenues and net income?
  5. Does your current team have the tools, training, and fully understand the firm’s expectations of them regarding their job position and individual tasks?
  1. Are all of your firm’s functional business areas operating smoothly? (Functional areas: Intake, Case management, HR/training, Client relations, Reporting (Financial and operational), and IT)
  2. If the answer to #3 above is “no,” are you currently addressing the situation?
  3. Is your “marketing machine” effective?
  4. Are there dual tracks for smaller dollar value cases as well as cases with more potential?
  5. Are you willing to offer seller financing and/or an earn out?
  6. Do you have an intermediary to assist with negotiation?

Whether you choose to be at the table or on the menu, may that choice be an intentional one. Either spot may be right for you and your firm. So, keep your ear to the ground…steamrollers are loud, and you can hear them coming before they arrive. You may consider this article one of the first rumbles.

Vista's Key Services – Succession

Call it succession planning, or exit planning. Either way, it’s important to take actions to determine how your law firm evolves and grows, and what its ultimate future will be. Some owners plan to keep “working to the end.” Others wish to exit at a certain age, whether transitioning the business to family members or key employees, which could include gifting or selling. Even if you have no plans to sell your firm, succession planning provides numerous benefits, including minimizing taxes, increasing your firm’s growth and building overall firm value.

Many law firm owners are so wrapped up in running their successful businesses that they don’t take time for some deep contemplation and creating a well-crafted plan for its eventual transition. We encourage you to gain an understanding of the many, many facets of planning that will allow your business to thrive more than ever, with or without you going forward.

The Vista team has led many firms through the succession planning process, and it is a process. Especially if the goal is to sell the firm, there are key strategies to maximize its value:

  • Making sure you have the right team members in the right places, doing the right things.
  • Implementing marketing strategies to best position your overall firm brand.
  • Developing a firm that can exist without your hands on the day-to-day operations.

Vista can help you navigate the succession planning landscape, including:

  • Fully reviewing firm finances, as well as other non-financial information.
  • Assessing and calculating an estimate of firm value based on firm-specific scenarios [e.g., sale to a third party, sale to a related party and sale/transition to current team member(s)]. Each scenario must take into account tax consequences, as well as personal and estate planning goals.
  • Refining the valuation estimate through the negotiation process.
  • Aiding a potential “seller” in search of a “buyer,” as well as evaluating the skills/aptitude of any potential external/internal “buyer.”

Succession planning should be an integral part of your firm’s planning process for now and the future. Please contact the Vista team for more information at 225.383.2974. We promise our discussion will be quite insightful, and you’ll be amazed at the impact quality succession planning can have.

Vista's Key Services – Recruitment

VISTA Consulting Team is redefining what it means to recruit, vet, hire, and onboard great talent. Finding top qualified attorneys, paralegals, and support team members are what we do for plaintiff law firms nationwide.

Our process and the tailored approach we will build for you attract top candidates who want to join your team. We work with your HR and management team to onboard them effectively so your new team players can become high-performing and long-lasting performers.

THIS RECRUITMENT PROGRAM
IS A GAME-CHANGING EXPERIENCE:

ATTRACTING TOP CANDIDATES

Our process motivates top candidates to want to join your team

WILLING AND TALENTED

We vet for professionalism and proven skill performance

A FRACTION OF THEIR PAY

Your investment is a % of their pay with weekly updates and measurable results

RETURN ON INVESTMENT

You’ll select the final candidates who can help you see return and longevity

BUILDING FOR GROWTH

We train your managers on strategies to retain and grow your talent

Let us show you the program at no cost or risk.
Contact us today at:

225.383.2974