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In Search of Perfect Client Service Why lawyers don't seem to get it

Value Tip Of The Day No. 4 — Think Like Private Equity

Posted in Value Tips

 

Read Lessons From Private Equity Any Company Can Use (Memo to the CEO) by Orit Gadiesh and Hugh Macarthur. Gadiesh is the Chair of Bain and Company and Macarthur is a partner with the firm. They know private equity, and in this book they explain the simple rules that must be followed to extract maximum value from any operation, including a law department or a law firm. Here are the rules:

1. Define full potential.
2. Develop the blueprint.
3. Accelerate the performance.
4. Harness the talent.
5. Make equity sweat.
6. Foster a result-oriented mindset.

Does anyone really doubt that private equity would handle a law department or a law firm a bit differently?