In the second episode of How to Run a Law Firm in 2025, Lauren and Mathew have a candid discussion about the importance of law firm naming decisions and practice pivots.
The hosts share their experiences with different naming approaches – one chose a traditional surname-based name, while the other opted for a descriptive name reflecting their niche. They explore how firm names can impact client perceptions, marketing, and the ability to pivot services later. The discussion then shifts to the challenges and process of pivoting law practices, emphasizing that such changes often take significant time and careful consideration.
They highlight the importance of having a support system when making major practice changes, the value of continuing legal education resources for learning new practice areas, and the need to overcome the sunk cost fallacy when considering a pivot. The hosts emphasize that while changing direction in legal practice requires intentionality and preparation, it is achievable and can lead to greater professional satisfaction.
