Timothy B Corcoran

November 26, 2019 | The Legal Intelligencer

Smart business leaders compete by constantly seeking cost advantages. Yet law firm leaders compete by perpetually increasing associate compensation. As always, this will not end well.

By Timothy B. Corcoran

6 minute read

November 26, 2018 | The Legal Intelligencer

The manner in which law firm leaders measure profitability has the potential to have a profound impact on behavior and motivation, particularly as more firms integrate this metric into their operational management and compensation systems.

By Timothy B. Corcoran and Marcie Borgal Shunk

8 minute read

March 07, 2018 | The American Lawyer

The old models of partner compensation are increasingly keeping firms from the client-focused culture needed to succeed today.

By Timothy B. Corcoran

7 minute read

December 23, 2014 | The Legal Intelligencer

A number of law firm leaders have expressed concerns to me regarding what they perceive to be a lack of quality and qualified candidates for the most senior law firm marketing positions, such as chief marketing officer or chief business development officer. It's certainly plausible that some candidates who rose to senior-level law firm positions during times of plenty now face a daunting task of adapting to a much more competitive market. But it's also clear that many law firm leaders have a poor understanding of the kind of marketing support they need. This, added to the poor processes many pursue to find candidates, means that too often we end up with mixed results. In my roles as both a consultant to law firm leaders and as 2014 president of the international Legal Marketing Association, I've captured the following recommendations to improve the process.

By Timothy B. Corcoran

8 minute read

August 26, 2014 | The Legal Intelligencer

In recent years, as client fee pressure has increased and client loyalty has decreased, law firms are investing significant time and money in business development programs. Some partners receive training to dust off selling skills that were largely unnecessary during a time of plenty. Other partners receive training, then individualized coaching, then more training, then more coaching, in an often-futile attempt to turn everyone into a capable rainmaker. Mathematically, if every equity and income partner generates just a little bit more, this is far more impactful than demanding even more production from our handful of true rainmakers. Trouble is, this rarely works out as planned. There are logistical, financial and psychological barriers to this plan of turning every partner into a rainmaker, and it's time law firm leaders recognized its ineffectiveness, and instead adopt a more productive approach. It's time to touch the third rail of law firm management: partner compensation.

By Timothy B. Corcoran

9 minute read

November 15, 2011 | The Legal Intelligencer

Recent news reports suggest that large groups of outraged consumers, even those lacking an articulated vision and clear agenda, can influence the pricing policies of large businesses and financial institutions.

By Timothy B. Corcoran

11 minute read

September 23, 2009 | The Legal Intelligencer

Corporate law departments face an unprecedented level of pressure to reduce costs, to do more with less and to deliver a quality legal product to internal corporate clients.

By Timothy B. Corcoran

9 minute read

October 07, 2010 | New Jersey Law Journal

Imagine having the opportunity to chat at length with the authors of your favorite books, a process that can bring you into the topics on a more visceral level than merely reading can accomplish. As a result of this interactive nature, and this simplicity, and the low barriers to entry, many legal professionals regularly publish blogs on a wide variety of topics.

By Timothy B. Corcoran

7 minute read

August 13, 2010 | Law.com

In a world where a claim of expertise is often indistinguishable from actual expertise, it's critical as a lawyer to clearly exhibit subject matter expertise to your target market, notes Timothy B. Corcoran, a senior consultant with Altman Weil. One effective method of establishing such expertise, says Corcoran, is with a blog. He discusses the benefits of blogging and also some of the basic issues that can arise, such as how often to post and whether outsourcing is a good idea.

By Timothy B. Corcoran

8 minute read