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The lure of the law can be a powerful thing. After switching gears from practicing corporate law to working as a journalist (most recently covering the stock market for SmartMoney magazine) it's with genuine excitement that I join the team at American Lawyer Media Inc. for the launch of Small Firm Business.
It's often overlooked that lawyers have a decidedly entrepreneurial bent. Most lawyers strike out and carve their own paths in small firms. Indeed, the vast majority of attorneys in private practice work in settings with fewer than 40 attorneys. And for many, "small" doesn't come close to a head count that high. Just over 20% work in firms with between two and 10 lawyers.
So we're here to help inform your business decisions. Working in a small firm presents a huge number of challenges. You've likely been asked to weigh in on everything from whether to renew your office lease or hire a summer associate, to what antivirus software to buy. We're looking forward to bringing you stories that address the full range of issues you encounter day to day. We recognize that there are no one-size-fits-all answers. Instead, we're hoping SFB will become a forum for our community of small firm
practitioners, to share experiences and lessons learned.
We're jumping right in with this premiere issue. During the course of my reporting for "Hit It Big," page 39, it was my pleasure to talk with lawyers from around the country about creative efforts to make their firms thrive. We hope you'll enjoy the profiles of firms and consider whether some of the
approaches could work for you.
Also in this issue, look for guidance in selecting a corporate credit card. It's an overlooked basic tool that can save you money. Don't find yourself in a situation like a law school classmate of mine, who, when asked about her firm's card, said: "We have a generic Visa that has been in place for
some time, is not used frequently, and has no perks. Apparently, we need to look into a better card."
Finally, editorial director Monica Bay and I want to encourage you to let us know what you want to see on these pages. Let us help you address the thorny business decisions that keep you awake at night. We want to build a dialogue so that SFB will be a real resource for your business planning. Please share your thoughts with us at SFB@amlaw.com.
Regards,
Trevor Delaney
Managing Editor
It may come as a surprise to you that approximately 80% of the nation's lawyers practice in firms with less than 40 attorneys. Each day, these firms face critical management and business issues, in addition to the pressures of practicing law. We're here to help.
It gives me great pleasure to introduce American Lawyer Media Inc.'s Small Firm Business. Whether it's figuring out compensation packages or choosing the right insurance; selecting benefits or purchasing copiers, these everyday decisions affect your bottom line. To help you improve your productivity and profitability - and quality of life - it's time for a magazine that focuses on the business side of running a law practice. Small Firm Business will cover finance, business development, insurance,
marketing, technology, real estate, facilities management, research an practice tools, human resources, benefits, personal finance, and so much more.
American Lawyer Media Inc. is recognized internationally for our sophisticated, focused coverage of the legal industry in our diverse publications, which include The American Lawyer, The National Law Journal,
Law Firm Inc., and many other regional weeklies and dailies serving local legal markets. As Small Firm Business joins the fold, we are especially pleased to announce that it will be led by editorial director Monica Bay and managing editor Trevor Delaney, both seasoned business journalists who are
looking forward to providing practical, hands-on information on the many complex aspects of running your firm.
The timing couldn't be better - in today's economic climate, law firms must purchase and use resources wisely, and plan growth carefully, to thrive in this competitive marketplace.
I welcome your comments, questions and suggestions. Please drop me a line at kvermeulen@amlaw.com.
Best regards,
Kevin Vermeulen
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