
The Perfect Partner: Modern Legal Leadership Strategies For Sustained Business Growth
Watch the Video to learn about
- How failing to modernise law firm leadership and financial strategy will leave firms vulnerable in an increasingly competitive market
- Why neglecting leadership strategies within partnerships leads to disengaged teams and poor business performance
- The consequences of partners ignoring cash forecasts and performance metrics
In this episode of The Katchr Podcast, Katchr Managing Director Graham Moore interviews Simon McCrum, a former managing partner turned author and consultant, about his latest book, The Perfect Partner. The conversation dives into the evolution of law firm management, the critical role of leadership in driving firmwide growth, and the transformative impact of redefining partnership roles. Drawing on decades of experience working with law firms and thousands of partners, Simon maps out what law firms need from their partners to thrive. More than just mastering the “day job,” true partnership is about leadership, impact, and driving firmwide performance.
Watch the Video to learn about
- How failing to modernise law firm leadership and financial strategy will leave firms vulnerable in an increasingly competitive market
- Why neglecting leadership strategies within partnerships leads to disengaged teams and poor business performance
- The consequences of partners ignoring cash forecasts and performance metrics
In this episode of The Katchr Podcast, Katchr Managing Director Graham Moore interviews Simon McCrum, a former managing partner turned author and consultant, about his latest book, The Perfect Partner. The conversation dives into the evolution of law firm management, the critical role of leadership in driving firmwide growth, and the transformative impact of redefining partnership roles. Drawing on decades of experience working with law firms and thousands of partners, Simon maps out what law firms need from their partners to thrive. More than just mastering the “day job,” true partnership is about leadership, impact, and driving firmwide performance.
Don’t have time to watch now? Here are some highlights.
Why Traditional Law Firm Structures Are Failing
Some law firms are struggling to sustain growth due to outdated partnership models that prioritise individual performance over collective success. Simon highlights, many partners focus solely on their own billings, failing to leverage leadership and business strategies that drive firmwide progress. Without a cohesive approach, firms risk financial instability, disengaged teams, and missed growth opportunities.
The Leadership Shift Law Firms Must Make
McCrum emphasises that a successful law firm requires partners who act as leaders, not just high-billing lawyers. Key leadership traits include:
• Aligning firmwide strategy with day-to-day behaviours.
• Creating a culture of accountability and collaboration.
• Developing future leaders within the firm rather than relying on individual performance.
Why Financial Visibility Is Critical for Partners
A major issue in law firm management is the lack of financial understanding among partners. McCrum argues that:
• Many partners do not track cash flow, debt levels, or financial forecasts, putting their firms at risk.
• Without financial literacy, firms struggle with pricing, profitability, and long-term sustainability.
• A firm’s financial health directly impacts career progression, investment decisions, and operational success.
• Partners who ignore financial data contribute to poor cash flow management, unnecessary overhead costs, and financial crises.
Redefining Partnership to Drive Growth
A law firm’s growth should not depend solely on individual billings. Instead, McCrum advocates for:
• Shifting focus from ‘money-making machines’ to leadership-driven business strategies.
• Using data to track performance, client needs, and market trends to drive firm-wide expansion.
• Encouraging partners to act as catalysts for team success rather than isolated fee earners.
• Without this shift, firms will struggle to scale effectively and risk losing top talent to better-managed competitors.
Why Firms Must Act Now
Failing to modernise law firm leadership and financial strategy will leave firms vulnerable in an increasingly competitive market. To stay ahead, firms must:
• Train partners in leadership and financial acumen.
• Leverage data to inform decision-making and performance tracking.
• Foster a firmwide growth mindset rather than relying on individual contributions.
Simon McCrum
Simon qualified as a Commercial Litigation solicitor in 1990 at Pannone. His role gradually evolved into a marketing and management role. He became Head of various teams, Marketing Partner, Director of Business Development, and part of the Management Team at Pannone.
In 2007, Simon became Managing Partner at Darbys Solicitors. The firm made a trading loss in 2007 but after going a long way backwards – and during the Credit Crunch – the firm emerged to have its most successful year ever in 2010 and in 2013 it was the country’s fastest-growing law firm.
In 2016, Darbys was acquired by Knights Professional Services and Simon exited to form McCrum & Co, a management consultancy for law firms. He now works with law firms to help them to do the things he did right, and to avoid the things that he did wrong. He has pulled all of this together into a model which he calls The Perfect Legal Business. A dedicated “growth” merchant and an ardent believer in law firms being charged with changing clients’ lives for the better, Simon helps firms to move towards becoming The Perfect Legal Business, which brings profit-rich and cash-rich growth, quickly.
Simon is the author of several notable works, including the “Law Firms in Lockdown” series of reports, “The Perfect Legal Business,” “The Perfect Lawyer,” and his most recent book, “The Perfect Partner.”
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Don’t have time to watch now? Here are some highlights.
Defining & Measuring Risk
“If you can’t measure something, you can’t really manage something.”
“The first step in managing risk is to truly understand it. What does risk mean to you, and how does it align with your strategy?”
Misconceptions About Insurers
“The main misconception around risk management for law firms is probably that insurers are out to get them… This is largely untrue.”
“Most insurers now employ risk management sections, looking at ESG, culture, and mental well-being, to help firms create less claims.”
Leveraging Data for Profitability
“We worked with a firm to analyze the profitability of their conveyancing files… By staying below a 45% conveyancing workload, they ensured they remained profitable and managed their PII costs effectively.”
“The key is really in the whys… Your firm stats will be firm stats, but being able to explain them and show your strategy is what makes the difference.”
Strategic M&A Planning
“Professional indemnity insurance can scupper the whole thing depending on successor practice rules and the insurer’s appetite for the firm being acquired.”
“Engage insurers and brokers early… Insurers might even know something crucial to the deal that the firm doesn’t.”
Leadership and Risk Culture
“Leadership has to live and breathe the values it promotes… Doing the right thing consistently generates a successful culture and a stronger risk profile.”
“Firms that can say, ‘This is the journey we’ve been on and how we’ve improved over five years,’ with hard numbers to back it up, will stand out.”
Emerging Risk Trends
“AI seems to have replaced the conversation around crypto and blockchain… Insurers take a cautious view, depending on how firms use it.”
“Cyber risk will always be a concern for law firms because of the nature of their work, but having proper protocols in place can mitigate this.”
Practical Advice for Law Firms
“Don’t wait until renewal to focus on risk. If you work on your risk presentation early, you’ll stand out among your peers.”
“Don’t be an island. Share challenges internally and externally. There’s always someone who can help.”
“If you’ve got a specialism, embrace it. Showing you’re an expert in your field can actually reduce your risk profile.”