Legal Practice
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Time to Take Control of Your Own Practice Succession Plan

In HBO’s Succession, the family patriarch creates an unfair playing field, puppeteering a game that seemingly no one can win. For many Big Law and  boutique attorneys, the experience can feel eerily similar. Some are realizing that the risk of betting on themselves instead of waiting in the wings isn't really all that risky. Modern firms like Scale solve numerous problems inherent in a traditional legal practice. So long, puppeteer.

In HBO’s Succession, the family patriarch creates an unfair playing field, puppeteering a game that seemingly no one can win. For many Big Law and  boutique attorneys, the experience can feel eerily similar. Some are realizing that the risk of betting on themselves instead of waiting in the wings isn't really all that risky. Modern firms like Scale solve numerous problems inherent in a traditional legal practice. So long, puppeteer.

By
Date Published:
July 23, 2024

Over nearly 20 years of legal talent management, I've interviewed, integrated and coached hundreds of attorneys, gaining unique insight into the often stressful and high-stakes nature of the practice of law. Although there have been plenty of TV shows that attempt to recreate this environment, the series that I have found most reflective of a traditional law firm attorney’s experience is actually not about lawyers. In my view, the Succession series, which centers on the Roy family as they fight for control of the family business - a global media and entertainment conglomerate - amidst uncertainty about the health of the family's patriarch, depicts relationship dynamics that are quite typical of the law firm experience.

In the series, as in real life, the desire to reach the top - be it CEO, equity partner or some other leadership role - is complicated by many obstacles. In the series, the family patriarch Logan Roy creates an unfair playing field, pitting players (including his children) against one another and intentionally puppeteering a game of succession that seemingly no one can win. And for many BigLaw attorneys, waiting in the wings for the next step up the ladder can feel eerily similar.

The traditional firm hierarchy is stacked with hurdles, many of which mimic Succession’s unfair playing field. For example, big-name or the biggest revenue generating clients (sometimes regardless of profitability) usually take top priority within the business, leaving firms with little to no incentive to support an individual attorney’s practice development efforts outside of those institutional clients. Likewise, exorbitant hourly rates can stand in the way of attracting mid-market clients, making it hard for a budding business developer to woo a new client. And smaller clients simply do not bring in top dollar, or worse, pose the potential for future conflicts. Finally, sky-high billable hour requirements often trap law firm attorneys into serving clients of the firm’s biggest revenue generators at the expense of cultivating a practice of their own. Without the flexibility or time to bring in new clients, it is virtually impossible for an attorney to build his or her OWN book of business, even though THAT is exactly what gets rewarded in the traditional law firm business model. Puppeteer Logan Roy’s favorite plot twist!

Aside from structural obstacles, lawyers tend to be inherently risk-averse. In the midst of a relatively lucrative career grinding out 2,000+ hours a year on matters for other people’s clients, it may feel too risky to even entertain the idea of stepping out of this unwinnable game. But ironically, the same lawyers are being called on by their clients to analyze risk and advise on proactive strategies for success - passivity is not rewarded in business. (See Top Skills a Lawyer Needs for Success, by Theda C. Snyder).

Drawing yet another parallel to Succession, it’s Tom Wambsgans’ risk assessment and proactive (albeit questionable) maneuvering that ultimately lands him the coveted CEO role. Fortunately, much like Tom, and in large part due to pandemic-induced life reprioritization, more and more attorneys are leveraging those same proactive problem-solving skills that clients clamor for, to improve and advance their own professional careers. They now realize that the risk of betting on themselves, taking control of their career instead of waiting in the wings, isn't really all that risky, especially when you’re structurally set up for success. Many attorneys are embracing the idea of working from where they want and for clients they enjoy, advantages that are bolstered by having the autonomy to set their own rates and take home more of the value they create. So long, puppeteer.

For these risk-tackling attorneys (a.k.a. “lawpreneurs”), modern firms like Scale solve numerous problems inherent in a traditional legal practice by:

  • Offering autonomy over how you price your services. At Scale, counsel and partners largely set their own rates, supported by the firm’s annual market rate analysis data to determine rates that are competitive and that work for their clients. In addition to perfecting the art of alternative pricing models, Scale is able to pass cost-savings to clients from the remote-first structure’s reduced overhead.
  • Providing flexibility in where you choose to practice. Remote-first means no commute or office time required, widening the options of where an attorney may live and work, and opening up the possibility of taking an extended overseas vacation. And since all Scale attorneys are on board with the remote model, new joiners become part of a community that is committed to creating connections outside of the brick-and-mortar office.
  • Building a community of like-minded, top quality attorneys. In a recent firm-wide survey, nearly every attorney cited “quality of colleagues at Scale” as a leading highlight of their experience. And with teammates coming from BigLaw, government, successful solo practices and impressive private and public companies, there are considerable opportunities to monetize referrals and collaborate on business development. 
  • Enabling better take-home economics on your time. Industry data shows that most law firm attorneys take home an average of 33% of the revenue that they generate for the firm (Lateral Link article). Under Scale’s business model, attorneys take home the majority of the value they create, which translates to working less and earning more with happy clients.

If you are tired of waiting in the wings, and are starting to see that taking control of your own succession plan isn’t really all that risky, we would love to learn more about you and share details about Scale LLP.