Peer to Peer Magazine

66 PEER TO PEER: THE QUARTERLY MAGAZINE OF ILTA | FALL 2016 FEATURES Why the Boom Line Should Be Top of Mind staffing become critical. I will discuss not only the paramount importance of delivering great results for our clients but also the incredible pressure to manage the cost of those services in a manner that provides good metrics for the firm. What are the prerequisites for today's law firm COO? A COO has to grasp how legal differs from other business ventures. They have to appreciate the profession and the importance of client service and support. The COOs I talk to agree that since 2008 it has goen harder, but that it is even more critical to drill down into the true business side of the firm. Embrace all the operational pieces like financial services, human resources, talent management, information technology and more. The COO must also understand the practices and how each generates returns in your firm. How will a law firm COO look in five years? The COO of tomorrow must focus on real-time issues and change management related to the key business elements of the firm. They will be required to balance lawyers' desire for higher profitability with all the competitive pressures on pricing, talent acquisition and retention, innovation discovery, and implementation. All the while, meeting the expectations of your clients. The COO must be able to see everything at great depth all at once and know how to react while counseling and advising the varied constituencies inside the firm. What is the best thing about your job? I have been asked many times why I've stayed in legal so long, and the answer is simple — it's the people. I love working with some of the best and brightest people to solve complex problems. It's very challenging, but very rewarding, too. P2P How can we approach our business to ensure we do well in both good and challenging times?

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