Legal Business

    • 30 Nov 2011

    Market leaders lead the market

    When a group of law firm partners discusses significant changes in their respective firms, one of them will almost certainly say: "But no other firm in our market does this..." We have three responses that we ask our clients to consider: First, are you sure? We have frequently discovered, upon further investigation, that the assumption by a group of partners that nobody else is implementing a specific...
    • 21 Nov 2011

    info@yourlawfirm.com | Is it working?

    How can we help you? How can we help you? That was the message preceding a "request for information" form in the Contact Us section of a noteworthy B2B company website I recently visited. Ten days ago I filled out that form and requested specific information or a return phone call regarding a web design project I am directing for a client. I still haven't heard from the company. Sure, I could...
    • 8 Nov 2011

    How does the "last mile" relate to lawyers' website biographies?

    The "last mile" is a supply chain management term (and a single released by hard rock/glam band, Cinderella, in 1989, and also a play and movie from the 1930s) that refers to a product's last mile before it gets to market and on store shelves. Apparently, it's the hardest and most expensive leg of the process. According to Wikipedia, "This last leg of the supply chain is often less efficient...
    • 7 Nov 2011

    Leadership: actions and words

    In September and October 2011, our firm conducted a worldwide survey about law firm leadership, as part of our ongoing support of the Law Firm Management Committee of the International Bar Association . 374 lawyers participated, more than half of whom are or have been managing partners of law firms. My partner, Lisa Walker Johnson, reported the results on 1 November 2011, at the IBA Annual Conference in Dubai,...
    • 3 Nov 2011

    Comparing Your Law Firm (or Department) to Apple

    Most people, especially those outside the technology industry 1 , think very highly of Apple. What would your law practice look like if your clients felt that way about you? Some practices already get rave client reviews; these firms are proving to be tough competition. Yet I've heard senior attorneys claim that the "Apple standard" is too high a bar. It's worth looking at this article from...
    • 19 Oct 2011

    Making Junior Associates Cost-Effective

    Yesterday I noted the issues raised by a WSJ piece on clients looking askance at paying going rates for first- and second-year associates . There are really only three ways to resolve this issue, beyond, of course, extending the status quo: Firms bill out junior associates at lower rates (including $0). Firms stop hiring junior associates. Firms find ways to make the junior associates more valuable...
    • 18 Oct 2011

    What If Clients No Longer Want to Pay for Junior Associates?

    The WSJ Law Blog (which has a new editor, by the way) featured an article yesterday on clients' increasing unease with paying for the work of first- and second-year associates . I've seen this change building for some years now, in my work with both clients and firms. It's a trend that antedates the current recession, but it's starting to really take hold. It's not universal by any means, but...
    • 14 Oct 2011

    Year-end countdown: individual business plans

    Do partners in your firm have individual business plans? My colleagues and I have observed that in some law firms the combined strength of the individual business plans of each partner can be more important that the overall quality of the firm's business plan. This is not to say that firm-wide business plans are not important. Indeed, they are! But one of the most frequent reasons why some law firm business...
    • 7 Oct 2011

    The legal market place – carnage or opportunity?

    When you look at the legal marketplace, what do you see? With the implementation of the far reaching Legal Services Act finally happening in the UK (albeit with some fairly significant delays in related regulation), it seems the right time to step back and assess the state of the market. Talking to people in the profession about this, from partners to in-house lawyers, business development directors to IT...
    • 6 Sep 2011

    How to find an extra 1,000 hours a year

    I have a confession to make. I'm an information junkie. All my life I've been a voracious consumer of books, magazines and newspapers. From burying my nose in novels as a child, through reading 3-4 books a week when commuting as a lawyer, to teaching myself to speed-read early in my legal career to keep on top of fast moving professional development, books have never been far away. Indeed I wrote...
    • 31 Aug 2011

    Lawyers – Just. Do. Something.

    It seems like there was some sort of psychic alignment in the UK legal blogging community last week. As the news came rolling in on changes facing the UK market (Neil Rose's site Legal Futures is often a good place to start), the Entrepreneur Lawyer Chrissie Lightfoot wrote a great post about the disruption and fear facing the profession. Julian Summerhayes then followed up with a thought provoking piece...
    • 24 Aug 2011

    Law Firms on Facebook - More than a toe in the water

    If I had a nickel for every time a lawyer asked me, "Should we be on Facebook?" . . . I'd be - well, you know. JD SUPRA has identified several firms that have established a great presence on Facebook, and the article notes why. For those lawyers and firms who are more timid, assume what these firms are doing is the "Gold Standard." Fenwick & West is the firm at the top of the article...
    • 23 Aug 2011

    Lawyers – ask why they buy, not why they didn’t

    Have you ever thought about the reason people choose to buy legal services from a particular firm? Sure, if you're a lawyer in practice (or a business development professional at a law firm) you may have spent some time debriefing why you lost a tender, but have you actually talked to some clients to find out why they chose to use you in the first place? If you have, do you know why they continue to instruct...
    • 11 Aug 2011

    Can a Law Firm Become a Social Business?

    How are you preparing to take your law firm into the "Social Business" era? Perhaps this is the first time you've heard the term used? Here's a definition: Social Businesses combine fully integrated sets of tools, channels, and processes with people that embrace and cultivate a spirit of collaboration and community throughout the organization-both internally and externally. It's not B2C...
    • 2 Aug 2011

    Super Mario Lawyer – How to gamify a legal career

    There's a lot of buzz at the moment about " gamification ". Now before you choke on your cornflakes and wonder what anything that has the word "game" in it has to do with a serious business like the law, let me first explain what it is. This was a part of the partnership assessment centre that Simon wasn't expecting The best definition I found was in a white paper from a company...
    • 29 Jul 2011

    Only 5 months left to meet your 2011 marketing goals

    I received an email this morning from the CMO Council on its "Marketing Outlook for 2011." While the research study made more sense to report in Q1, it's worthwhile to use as a check-up as we edge into August 2011. The Study reports that marketing budgets are on the rise, with 26% reporting an increase of 1 to 5% over last year. As law firm marketers begin their 2012 budget planning, this is...
    • 22 Jul 2011

    The in-house law firm – the future of corporate law departments?

    I'm a big fan of Tom Peters . Not just because he genuinely interacts with his followers on Twitter , not just because he's passionate about what he writes about, and not just because he presents (presentations, books) in some pretty cool ways. I'm a fan because he has some great ideas. If you look back to his book "Re-imagine, business excellence in a disruptive age", which was written nearly...
    • 15 Jul 2011

    The Tao Of Law Firm Strategy

    Differentiation is getting harder for law firms. We all know that. Clients constantly state that they want their lawyers to have deeper knowledge of their business and environment. As the market changes, more and more firms are re-examining their business model and questioning how they are going to compete and win in the future . Some think about doing more of the same. Some think about doing the same...
    • 11 Jul 2011

    The five skills of highly effective in-house lawyers

    I spent some time this week with a group of in-house lawyers facilitating a discussion around the skills and capabilities that corporate counsel need to be a success, particularly if they are just making the transition from private practice. The group itself was very diverse, ranging from a FTSE100 GC to a very recent convert to in-house life, after six years at a magic circle firm. However, despite this diversity...
    • 5 Jul 2011

    A shiny new law firm

    With deregulation of the market looming here in the UK, opinion varies wildly over what the likely impact will be. Some speak of decimation of the high street, and the end of the traditional law firm as we know it. Others are more conservative and see a simple acceleration of the move from a traditional profession to a collection of more business orientated organisations. Some see different changes...
    • 30 Jun 2011

    A textbook example of international expansion

    Allen & Overy's opening of its new office in Washington, D.C., announced today at legalweek.com demonstrates the smart way to plan and execute an international expansion strategy: Go only where you need to go, but go there with the best. The London-based global firm will build its Washington practice around three financial regulatory lawyers from O'Melveny & Myers ' Washington office (and possibly...
    • 29 Jun 2011

    Commentary on Law360 Post, "How to Make it Rain by Marketing Individual Lawyers"

    A legal marketing friend, John Eix, head of Regional Business Development - Texas for Hunton & Williams , sent me a June 24, 2011 Law360 article that I finally had a moment to read. It covers the age-old question of, "Do clients hire law firms or lawyers?" I have always insisted that they hire both, but this article leans more toward "they hire lawyers." The article was written by two...
    • 24 Jun 2011

    What lawyers can learn from the high standards at Niman Ranch

    Last night I attended a special event at Abacus , one of my favorite Dallas restaurants -- a Niman Ranch dinner hosted by chef Kent Rathbun and Niman Ranch farmer, Paul Willis. If you enjoy four and five-star restaurants, you will be familiar with Niman Ranch products and its mission of: "... raising livestock traditionally, humanely and sustainably to produce the finest tasting food in the world." ...
    • 22 Jun 2011

    How not to network

    I returned from a working vacation (mostly working) to find a discussion thread on one of the social networks started by a lawyer looking to build a network with lawyers in other countries. It is not surprising that a lot of hands, mostly from solo practitioners and lawyers in small firms, have been raised to volunteer. But this is not the best way to build a serious professional network. Developing productive...
    • 15 Jun 2011

    Four ways lawyers should improve project management – A litigator’s view

    This guest post was written by Jonathan Cooper , a partner and trial lawyer at Tucker Ellis & West . It is an edited version of an essay he wrote as a participant in our Certified Legal Project Manager TM program, after completing readings from several leading project management textbooks. Project managers are required to plan and to set objectives, up front, in detail. I think that we as lawyers fall down...