Posts By: Erik Schmidt

Three Law Firm Characteristics to Remain Resilient in a Market Downturn

Erik Schmidt | May 21, 2020

Due to pandemic-related disruption, the legal industry is bracing for a sustained downturn. HBR Consulting and The Managing Partner Forum recently conducted a poll of 75 mid-sized firms (<500 lawyers). Responses revealed that more than 60% of respondents are forecasting up to a 25% decrease in top line revenue for 2020. Fewer than 5% of polled firms are predicting no revenue loss at all. This begs the question, what can firms do now to adjust pre-existing 2020 plans to weather this unprecedented storm and, if possible, emerge stronger on the other side

Read More

Essential Questions Law Firm Leadership Should Ask When Preparing for a Remote Workforce

Erik Schmidt | March 13, 2020

As the economic and social disruption caused by current events continues to mount, law firms and other organizations are beginning to temporarily close offices and require employees to work remotely. The current situation is a reminder of the issues that firms should evaluate when planning for business continuity: its business needs, its users’ needs, and what is required from the IT staff and network to support those needs. Following are some questions firm leadership should ask itself and the firm’s IT organization when planning for business continuity in the event of a situation like we now face.

Read More

Preventing Budget Season Migraines

Erik Schmidt | September 30, 2015

With most of us are wrapping up our second favorite time of year (next to income tax season), we can enjoy a brief lull before the chaos of year-end sets in. What joyous time am I referring to? Budgeting Season of course! Year after year we go through the same process and yet somehow it still seems to sneak up on us, leaving us all scrambling until the very last deadline.

Read More

Does your law firm consider innovation an opportunity or a challenge? It appears that the jury is still out for many COO & CFOs.

Erik Schmidt | November 06, 2014

The 13th Annual Law Firm COO & CFO Forum: Fostering Innovation in Law Firms provided domestic and global COO and CFOs with an opportunity to learn how their peers’ are approaching the ever popular theme of “innovation.” While many firms are embracing innovation, some are still in a state of resistance. Below are ten “take-aways” that we gathered from the day and a half-long forum.

Read More

ALM Nails It - Big Law's Reality Check

Erik Schmidt | November 04, 2014

ALM's recent Special Report on the state of Big Law is absolutely spot on.

Read More

Why We Should Pay Attention to HP WorkSite @ILTA

Erik Schmidt | August 17, 2014

In mid-June, I had the pleasure of attending a series of HP hosted User Group Events.  Of the four in this series, I was able to participate in Washington DC, New York and Toronto.  Although they represent very different demographics, there were many areas of commonality. The few notable differences focused mainly around the cloud and issues of data sovereignty in Canada. With the annual ILTA Conference approaching next week, I look forward to seeing how HP carries the themes of the customer events forward into what is arguably the most important trade show of the year.

Read More

Subscribe

Archives

See all