That change the legal profession has both ballyhooed and rebuffed for so long? It's here. Economic tides, big shifts in consumer demands, wide-scale technological evolutions and a host of related factors are causing broad changes in market dynamics — and dragging the practice of law along. There's no more “wait and see.” No more crossing fingers and hoping the wave doesn’t hit until your retirement's fully funded or you pay off those loans: It — the "new normal" — is happening.
Originally published February 11, 2014The other day my son was bemoaning the new development on the edge of town that was once an empty grassland with a nice sweeping view off into the horizon. Changes, he lamented, seemed to be coming faster and faster these days. Of course, those of us who have been around a while can relate, particularly when it comes to changes in the practice of law. We surviving dinosaurs used to be plentiful and blissfully happy, unaware of the impending comets.
Originally published February 10, 2014We don’t know about you, but we are beginning to hear things might be looking up a teensy bit in the job market for lawyers. So if you had become so discouraged you tucked the old resume away in your hope chest for future generations … well, it might be time to dust it off. […]
Originally published February 7, 2014During a recent intake call training session, the COO of a large PI firm in New England bragged, “We convert 90 percent of the cases we want." An hour later, after we played four actual intake call recordings from their office ... nobody was bragging. While listening in, we heard three viable prospects hang up with no signs of further interest in the firm. In two out of three calls, qualified prospects who had been screened by the intake team were put on hold for more than two minutes while a lawyer was prodded onto the phone to “close the deal.” Once the lawyer finally picked up the call, both she and the caller were aggravated, and she was just plain unengaged. ... READ MORE
February 6, 2014 0 1My last post on managing aggressive clients discussed the importance of your "first response." Now we forge bravely ahead to using your physical environment to your advantage. Aggressive clients need to know that while they are under your roof, they must follow your rules. So, once you've identified (and decided to keep) an aggressive client, take care to set the stage for their arrival. ... READ MORE
Originally published February 4, 2014Yes, it seems we’ve been talking about the big changes coming to the legal profession for a very long time. But when the shift starts making headlines in the general media, it begins to seem more real. When academia begins to roil, you know change has arrived. At this point, you’re either on the bus or behind it. If you’re feeling a little panicky, or need a nudge in the right direction, you'll find wit and wisdom on the new legal marketplace in our latest e-zine: "New Math, New Money: A Lawyer's Guide to the Changing Business of Law." ... READ MORE AND GET THE DOWNLOAD
Originally published February 3, 2014It’s a short list of skills that separate great performers from average performers. Confidence, also called personal presence, is one of those critical skills. Those who have it (or fake it well) usually succeed. Clients expect you to have it. After all, they hired you, the expert, to guide them through their toughest challenges. Judges […]
Originally published January 31, 2014When stalking canonical monsters, you get to pack light. For the most part, there’s only the one item you’ll need to finish the job, assuming you can get close enough, and can maintain your nerve. If you’re going to do a werewolf, you need a silver bullet. If a vampire is your aim, you’re going to want a stake. I’m pretty sure you can finish Franken Berry with a spoon. Traveling upon a rerouted mystic highway, lawyers tend to think of social media in the same fashion, at both ends of a spectrum. Those who refuse to accept there is any business utility to social media marketing discount the opportunity by proxy, in favor of the sacred objection. Those who view social media marketing as a cure-all imagine a new-fangled magic bullet, theorizing a circuitous, aphysical path through the hearts and minds of actualizing clients everywhere. The answer lies somewhere in between. ... READ MORE
Originally published January 30, 2014In this edition of "Ask the Experts" Benjamin Shames of Valorem Law Group and Pepper Hamilton's Janine Book respond to a reader's question about money and trust. "We have an office manager, but I just don’t think it’s right to let her handle the money end of things. My partners say I’m crazy to require a firm lawyer to daily carry our receipts to the bank and handle all the bill paying. I say it is part of our fiduciary duty to the partnership. What do you think?" ... READ MORE
Originally published January 29, 2014When it's time to get serious about creating a strategic plan for your law practice, you can easily become mired in budget details, PowerPoints and politics. To get where you want to go, though, you need to set aside the noise and minutiae and get clear about the one thing you really want. Be bold, says Fred Miller, and let that one goal drive your planning. What's your BHAG, or “Big Hairy Audacious Goal”? You probably dream about it. We all do. But how many attorneys, practice groups or entire law firms actually sit down and think about what it would take to accomplish their BHAG? In my experience, not too many! The term BHAG (pronounced bee-hag) first appeared in Built to Last: Successful Habits of Visionary Companies by James Collins and Jerry Porras. A BHAG is a strategic business statement — one that encourages organizations to define visionary goals that are both strategic and emotionally compelling. Why not be bold and create your firm's BHAG? Here are three things to keep in mind. ... READ MORE
Originally published January 28, 2014