Leader’s Summer Reading, Humble, Hungry, and Smart, Partner Compensation Systems

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HEADLINES for May 16, 2016

 

LAW PARTNER COMPENSATION: An Overview

Peer into the world of law partner compensation. I wrote an article on the subject from placing partners and groups and talking with law firm executives. I discuss the following subjects:

  • The 4 Compensations Systems
  • Factors
  • Timing
  • Equity and Non
  • Personal Production vs Rain Making vs Collaboration
  • Examples of calculating
 

RECOMMENDED SUMMER READING for LEADERS

The Partnership: A Novel by Steven J Harper A former Kirkland Ellis litigator turned author. Its gritty, fast and entertaining.

A New Taxonomy: The Seven Law Firm Business Models by Bruce MacEwen
Bruce is a white shoe law firm consultant. Insightful, more serious, compare.

The Ideal Team Player: How to Recognize and Cultivate the Three Essential Virtues by Patrick Lecioni Why? Read the Leaders Corner below.

Berkshire Hathaway Letters to Shareholders by Warren Buffett 1965-2015 Glean manager and investor wisdom from the oracle of Omaha. Invaluable.

In-House: A Lawyer’s Guide to Getting a Corporate Legal Position by David Parnell  For those of you who didn’t know there was a guide.

Elon Musk: Tesla, SpaceX and the Quest for a Fantastic Future by Ashlee Vance Learn about the man who is bringing us closer to the Star Trek age.

The Outsiders: Eight Unconventional CEOS and Their Radically Rational Blueprint for Success by William Thorndike “One of the Most Important Business Books in America.” — Forbes

Lateral Moves: A Guide for Partners & Law Firms *Get our new free book*

 

LEADERS CORNER

The Ideal Team Player — it will go down as one of the classic books of all time. Next to Jim Collins, Pat Lencioni, author of one of the top five biz books ever written (Five Dysfunctions of a Team), has his new book out this week titled The Ideal Team Player: How to Recognize and Cultivate Three Essential Virtues. Everyone talks about what leaders have to do; but what about the rest of the team players?

 – Humble, Hungry, and Smart –

Pat makes the case that team players need to be Humble, Hungry, and (People) Smart. It’s your ability to attract, hire, train, and retain people with these three virtues that will supercharge your teams. In turn, trying to build high performing teams without players with these foundational attributes will make your job so much harder.

By Verne Harnish of Gazelles

 

RESOURCES & TOOLS

*Updated & Revised* – JOB HUNTING SYSTEM

How to Get Your LinkedIn Profile on the First Page Search Results

*Updated & Revised* – Law Partner Departure Checklist

The Tale of Two Law Firm Mergers

 

STAY CONNECTED

 

“Not all readers are leaders, but all leaders are readers.” -Harry S. Truman

 

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