Becoming a law firm partner—especially a name partner—is one of the highest visible achievements a lawyer can obtain in the legal profession. Partnership carries more responsibility along with additional stature. No longer can a lawyer merely follow the rules, clock in a set number of billable hours, and expect elevation to partnership after six years at a law firm. Partnership requires a lawyer to act as the owner of an enterprise. While it conveys the rewards of successful business ownership, including financial security and more control over one’s personal life, firm partnership also involves real risks and challenges—legal liability, financial and management worries, and accountability for firm overhead.

Firms may have varying partnership criteria, but usually all require the lawyer to offer value to the firm. As a new partner, the biggest transition is to think as a business generator and a legal service provider. Successful partners grow their business by bringing clients to the firm and keeping them satisfied.

Following are some practical ways to make a smooth transition from associate to partner:

Promote your promotion. Your election to partner is an ideal time to share the news, and remind your friends and acquaintances of what you do for a living and how you might be of service to them.

Develop a business strategy. Create a plan—for one year and five years—which, when met, will make you an indispensable professional and business asset for your firm. For example, if you have been a general litigation or corporate associate, focus upon a “niche” area that is underserved and set goals to achieve prominence in that area.

Market yourself and your firm at every opportunity. While it may be tempting to eat lunch in your office while you work, that strategy fails to build new relationships and maintain old ones as potential sources of business. Only through face-to-face communication can you determine a client’s needs and present yourself as someone who can meet those needs.

Take on responsibility for an area of importance to your firm. Today’s successful law firms become profitable through proficiency in the practice of law and through business efficiencies. Using technology, developing a disciplined marketing strategy, and hiring knowledgeable,well-motivated staff are a few ways firms build a lasting presence. Remember, practicing law is more than a profession—it’s a business. As a new partner, you must help run the business to maximize its effectiveness and profitability.

Mark McKenna is a partner at Hurley McKenna & Mertz, a Chicago-based firm concentrating on the representation of severely injured persons. He may be reached at mrmckenna@hurley-law.com.