Leaders of Mid-Size Firms "Cautiously Optomistic" for 2011

Observations from International Law Firm Network Conference

Law firms leaders are feeling pretty good about 2011.

Using audience polling technology, we asked leaders more than 100 law firms (about half from the US) how they would describe their projections for 2001. Their answers:

• 14% project "solid improvement" over 2010
• 65% are "cautiously optimistic," with lingering concerns about the global economy
• 18% project "flat" performance in 2011
• Only 2% project profits per partner to decline

And firm leaders in the US seem to be on the same page.

At our inaugural Managing Partner Forum for Northeastern Law Firms, we asked the same question of managing partners of 35 mid-size Northeastern law firms. Here are their responses:

• 4% project "solid improvement"
• 74% are "cautiously optimistic"
• 22% project "flat performance"

We see a good year for well-run mid-size firms, as well, with strategic planning, leadership development and marketing emerging as top priorities for many smaller and mid-sized law firms.

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