Accountant Tells What He's Learned About Managing a Law Firm
A United Kingdom accountant wound up working for a law firm by accident. Since then, however, Paul Stothard, who is now the elected chief executive officer at Shoosmiths, has learned quite a bit.
Among the words of wisdom he offers to others: Lawyers can be a challenge to work with, especially for those used to operating under a different kind of management structure. Partners need to be consulted en masse about many decisions, and are often reluctant to embrace change. However, a CEO must also sometimes “play that dictatorial card,” and it can be a tough call to figure out when, Stothard tells the London Times.
Once a decision is made, don’t be swayed by the “noisy minority,” he advises. “If 80 percent of the partners agree with you on an issue, that’s pretty good—probably as good as you’re going to get. It’s very easy to walk out of a meeting having decided what you’re going to do, then bump into a partner who has a particular beef and start thinking about changing your mind. I said change is slow in a law firm—boy, it can get really slow then!”
