8 Tips for the New Partner
Here are some tips from those who’ve been there on how to approach your new position as partner, meet firm expectations, and make an impact.
1. Keep doing what you’re doing.
If you’ve made partner, you’re already doing something right. "Remember that you’re the same person," says legal consultant Michael Anderson of Edge Consulting in Vancouver. "The people who have problems are the ones who think they’re different because they’re a partner." Keep working with the drive and initiative that got you admitted to partnership, and continue to treat your partners, associates and support staff with respect.
2. Figure out money matters.
Becoming a partner in a law firm means becoming co-owner in a business. Make sure you understand the financial implications of partnership: read financial statements, pay quarterly GST and income tax installments, know which expenses are deductible, handle tax returns and RRSP contributions, and manage a personal budget on gross wages.
One group of new partners at Aird & Berlis in Toronto had a chartered accountant come in to explain the new financial world order of partnership. "It was very helpful, and very comforting," says first-year partner Paige Backman.
3. Don’t assume that you now know everything.
"One thing you worry about with newer partners is that they’ll stop asking the important questions, and we’re watching for that," says Aird & Berlis managing partner David Malach. "New partners have to learn how to tell the client that they don’t know the answer, while still keeping that client’s confidence. The key is to do that research and get back to the client quickly."
4. Develop estimating skills.
Lawyers are incredibly expensive, and clients are concerned about the cost: do you really want to call up a client and say your cost estimate was too low? "Estimating may be one of the most inexact sciences around, and most entrepreneurs take years to get any good at it," says Malach. "Consult a senior lawyer if it comes up."
5. Take the initiative.
It sounds like a cliché, but it’s true. "Ask questions, be alert to the issues, take some risks, make decisions, see what works and doesn’t – and learn from your mistakes," says Stephen Nash of The Counsel Network in Toronto. "People don’t often get encouraged to do that, but all of those things are necessary to establish a presence and be perceived as a leader. And firms want leaders, because that’s who makes the money."
6. Do great work – on time, and with integrity.
Some new (and even some senior) partners focus too much on the work and not enough on backing up that work with excellent service, says Malach. If something gets messed up, as it inevitably will, explain the situation to the client, and apologize.
7. Have goals beyond partnership.
If your sole focus for the past five to nine years has been making partner, you may be left without a clear direction once you achieve it. Set new goals. "Ask yourself, ‘What do I want to be famous for?’" suggests Anderson.
"Making partner was a personal goal because it was a commitment from the firm to me," says Backman. "But my career goals are unrelated to being a partner. They are very specific to developing a position in the community in specific areas of law. I’m still striving for and will strive for many years to become a go-to person in the areas of technology and privacy law."
8. Act like a partner.
No, that doesn’t mean demanding a corner office or sloughing off your work onto your juniors. It means taking a proprietary interest in the firm by attracting new clients, acting like a firm ambassador, and seeking out opportunities for client contact. Ask for feedback from your seniors and brush up on any skills you’ll need to be a successful partner. Nash sums it up: "Focus on understanding what it means to be a leader."
Adapted from National magazine, August/September 2003.
