Change can be difficult for any law firm, but when its leaders are overworked, it becomes even less likely. It is an all-too-familiar story: you are the owner of a small to medium-sized law firm, stretched in too many directions and wearing several hats – human resources manager, marketer, business development manager, risk manager, compliance lead, and even an IT manager. Chances are you are also probably one of the highest billing lawyers in your firm with a busy caseload.
Once a law firm reaches a certain size, it can be difficult for a law firm owner to juggle all these tasks, resulting in excessively long hours, increased stress levels, and a poor work-life balance. A Fractional CEO can provide both the strategic and operational support required by law firm owners to avoid the above scenario and can serve as a law firm's agent of change and aid in achieving its goals.
Many of the key strategic roles that you would normally find within a larger law firm, such as Chief Executive Officer, are filled with highly skilled and knowledgeable people who can make a real difference to the law firm's performance. Unfortunately, SMEs and start-up law firms are unlikely to be able to afford the luxury of employing a full-time CEO, as they are just not big enough or do not have the budget to justify such a role as full-time.
