Monthly Archives: November 2020

Let’s frame the discussion with a question: What is a “large firm” vs. a “small firm?” Generally, there are three classes of firms from large firms to mid-level to small. Often the mid-level and smaller firms may also be called “boutique” law firms. The size of these firms vary in every city. In Indianapolis, a large firm might have 200 to 500 attorneys, a mid-level firm 75 to 150, and a small firm from 15 to 50. But in New York, Chicago or Los Angeles, a large firm could have 500 to 1,000 or more, mid-level 200 to 400, and small from 50 to 150. Regardless of location or size, several attributes where large, mid-level and small firms differ will be relatively consistent. Let’s explore some commonly held myths and misinformation. Myth: Large Firms Better Meet Client Expectations  A survey published in January 2018, found the rate of client dissatisfaction was three times higher for larger law firms than smaller firms. Why? At a small firm, a client that generates $250,000 in fees is incredibly valuable. That same client might be “small potatoes” to a large firm and perhaps, treated accordingly. Big or small, every legal matter directly affects the client and the client’s company in a significant way. The relationships developed between a smaller firm and its clients take time and effort to nurture. Where smaller firms fight hard for each specific case, larger firms are frequently forced to initiate tried-and-true strategies that fail to take advantage of case nuances that can only come from a…