Recommended Reading
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The following are works on law firm management, financial management, and other issues relating to the business of running a professional service firm that we have found helpful and thought-provoking.
Ron Baker - The Professional's Guide to Value Pricing
A thorough introduction to the topic, especially relevant for firms where fixed fees are having an increasing impact (i.e. most of the profession over the next few years).
Jim Collins - Good to Great
Some of his examples seem a little dated, but there are some very useful concepts here for firms looking to develop and outpace the competition.
David Maister - Managing the Professional Service Firm
Certainly the most relevant management book for the legal profession. Contains a wealth of practical advice and examples, and should really be the starting point for new partners/managers.
David Maister - Strategy and the Fat Smoker
Rather like the fat smoker of the title, this collection of articles argues that most managing and senior partners know what they should be doing to achieve their strategic aims. The problem comes in the implementation. As ever, contains some really helpful practical guidance on how to implement strategy successfully.
Richard Susskind - The End of Lawyers?
Controversial and thought-provoking. Although to be taken with a pinch of salt, Susskind's thoughts on the commoditisation of legal services and the potential impact of technology going forwards are worth reading.
Edward Tufte - The Visual Display of Quantitative Information
Justifiably named by Amazon as one of the best 100 non-fiction books of the 20th Century. Invaluable for those (including Managing Partners and Finance Directors) who need to display quantitative information in a comprehensible format.