By way of introduction, I am the founder and managing partner of Duval & Stachenfeld LLP. We are a 70-ish lawyer law firm in midtown NYC that focuses strongly on real estate; indeed, we refer to ourselves as “The Pure Play in Real Estate Law.”
As managing partner I have spearheaded numerous unique initiatives that have distinguished us from other law firms. Many of these ideas were very scary when we tried them out — there was always a fear that we would not only fail but, worse yet, be laughed at. Some of these ideas did not work out so well, I admit; however, the ones that succeeded have been the fulcrum to attract both lawyers and clients to our firm and indeed been the bedrock of our success.
As a relatively small firm playing with the big boys and girls, one would think that our size could be a disadvantage. But that would be incorrect. Smaller players can be flexible and move in different directions. We can take risks and seize opportunities that large law firms cannot logically capitalize on….
Unless you live in a cave you have seen a plethora of criticisms of Biglaw, how lawyers practice, and just about everything else. People beat up on us lawyers a lot for just about everything. It doesn’t have to be that way. One can run a law firm where both the lawyers and the clients are really happy and getting what they seek out of the relationships involved.
This column will focus on innovative strategies for successfully running law firms — both large and small firms. Instead of just throwing out ideas because I suspect they may be accurate, I will instead give real-world examples and relate these ideas to things that we did that proved amazing and other things that we did that turned out to be failures.
Also, along the way, I will take the risk of opening our strategies up to our competition and I will give my thoughts on how best to succeed as a law firm in this competitive world.
Ultimately, my goal with this column will be to prove a basic point: That to be successful in the law “business” one must be creative and innovative and not be afraid to try out ideas and, yes, fail sometimes in order to succeed in the end.