Summary |
Business managers are increasingly becoming an integral part of law firms. Business managers are largely focused on helping a firm achieve its financial goals while ensuring that the firm remains profitable and competitive in the legal industry. Business managers utilize a variety of strategies to ensure that these goals are met, such as increasing income, creating efficient processes, analyzing the firm's resources, and measuring performance.
Business managers are also responsible for developing and executing operating plans for the firm. This involves setting objectives for the firm, defining strategies and strategies for achieving those objectives, and creating systems and procedures to monitor progress. The business manager is expected to provide guidance and support to the firm's lawyers and staff, as well as to other departments.
Business managers play an important role in the financial management of a law firm. They are expected to conduct financial analysis and review financial statements, develop budgeting plans, and create reports to ensure that the firm is staying within its financial goals. They also work with law firms to ensure that the firm's debt is being managed properly, and that the firm is being adequately funded.
Business managers also play a key role in the development of business development plans. This includes developing marketing plans, establishing relationships with clients, and expanding the firm's client base. Business managers may also be responsible for the development and implementation of technology systems to ensure that the firm's operations are running efficiently.
Business managers also provide guidance and oversight to the firm's support staff, including the legal secretaries, paralegals, and other support staff. They are also responsible for developing and maintaining relationships with vendors, suppliers, clients, and other outside organizations. This includes negotiating contracts, providing customer service, and resolving disputes.
Business Managers on the Rise
Business managers are on the rise in law firms, and they are increasingly becoming an integral part of the team. This is in part due to the increasing competition and business acquisitions of legal firms and the need to be more efficient and organized. With the increasing complexity of the legal industry, business managers are needed to keep track of all the various aspects of a business, from operations to marketing.The role of a business manager is to keep the firm organized and on track. By analyzing the financials, tracking law firm performance and providing oversight of legal services, business managers can ensure that firms are operating at peak efficiency. Additionally, business managers can also help law firms assess the impact of market changes on their business and develop strategies to adapt to the changing environment.
As new technologies and regulations are introduced to the legal profession, strong and capable business managers are needed to help firms keep up with industry trends and changes. The ability to stay abreast of the latest legal developments and industry trends can help firms stay ahead of their competitors and remain focused on providing high quality services.
Not only does a business manager help keep a firm's operations running smoothly on a daily basis, but they also help create new opportunities for growth and development. They can also provide law firms with the insight to better understand their own strengths and weaknesses and identify areas for improvement. By understanding their clients' needs, they can help create new business strategies and develop new products and services.
Business managers are also in charge of overseeing personnel and ensuring the right people are in place to carry out the tasks necessary for the firm's success. They are responsible for recruiting, training, and evaluating the firm's personnel and managing budgets, contracts, and other aspects of the firm's operations. With business managers, law firms can better manage their resources and be better equipped to handle rapid growth and change.
Gone are the days when a designated paralegal handled the firm's finances, hiring and firing, and other administrative responsibilities. Firms are increasingly choosing to hire business managers or other administrative decision makers to care for their organizational tasks

''As firms become more businesslike, they realize they should hire a capable person to handle their business management matters,'' said Cheryl Leone, who worked in law office management for more than 40 years before she started her own management contract firm, Catalyst, Inc., serving law firms nationwide. ''Attorneys realize that they are running a business and must be professional,'' said Ms. Leone.
And business managers can turn out to be quite smart investments. ''A well-run, well-managed firm will save money,'' Ms. Leone believes. ''When I first began as a law office administrator, I had reduced the firm's overhead by one-third.'' Larger and medium-sized firms are more likely to have a whole hierarchy of law office administrators, but firms of all sizes and practice levels may benefit from a good business manager. Law office managers can institute much-needed organization and allow firms to be more businesslike.
Confusion still surrounds the profession, though, largely because no two firms seem to give their business managers the same duties-or even the same title. ''There are different levels and titles for law office managers,'' Ms. Leone explained, ''for example, a business manager may handle the firm's day-to-day operations, while a firm administrator may actually create budgets, supervise departments, and even be accountable for overseeing the firm's profit projections.''
Typically, business managers may handle a bundle of responsibilities, including the firm's finances, employee matters, and records management. ''My specialty is in human resources, so I'm responsible for the hiring and firing, working with recruiters, training staff, and employee attendance,'' said Mariel Piilola, Human Resources Director at Larkin, Hoffman, Daly & Lindgren, LTD, who's actively involved with the Minnesota Legal Administrators Association. ''However, I'm also in charge of records management, overseeing other managers, and even maintaining the firm library,'' Ms. Piilola said. ''My responsibilities are not pigeon-holed.''
And all that responsibility requires just the right training, experience, and skills. ''Business managers must have some business education or background, like bookkeeping and projections,'' Ms. Leone said. ''They must also know and understand the law behind their jobs. For example, they must be familiar with employment regulations.'' And while business training is extremely helpful, some legal background may be a job-saver. ''We've placed a gentleman with great business experience but no understanding of law firms,'' Ms. Leone recounted. ''He didn't think running a firm would be different from running any other business-and he only lasted a few months.'' Knowing how law firms work and understanding the legal environment is essential for would-be business managers.
Besides experience and education, people skills and resilience should be at the top of a business manager's list of qualifications. ''Business managers must be able to talk to people and relate to them on all levels, from attorneys to secretaries,'' said Ms. Leone. ''It's important to be detail-oriented and flexible,'' Ms. Piilola said. ''They should be able to present new ideas, yet withstand scrutiny and retain a positive attitude in the face of criticism.'' Ms. Leone agreed, ''Law office administrators should be able to go with the flow and keep all their balls in the air. It's important to be multi-faceted; business managers never have the same day twice.''
Of course, some typically smaller firms may continue to promote a capable legal assistant or paralegal to the position of law office manager or administrator. If that's the case, it's important that the employee enroll in continuing education and training. ''Take some business classes, enroll in seminars, and take advantage of educational opportunities offered by organizations like the Association of Legal Administrators,'' said Ms. Piilola. ''It's essential to get the best training possible directly in this arena.'' Other classes of importance may include technology seminars and employment law courses.
For able business managers, the profession offers plenty. ''The position can pay very well-even six figures for higher-level administrators,'' said Ms. Leone. ''It's also such an exciting position. It's fun to be on the cutting edge of such a new field.''
And there's no doubt that law office administration will continue to offer good things to business managers and law firms alike. ''The profession is definitely moving forward,'' said Ms. Piilola. ''In fact, some schools have even begun to teach classes in law office administration.'' With continued education and training, law office managers are sure to become even hotter commodities in the future.