Challenging the Billable Hour in Public
A law firm has created and is running an ad campaign that challenges the billable hour. Larry Bodine writes about it.
In marketing, the standard advice is "be different." McGuire Woods certainly will be that with its ad campaign and may just succeed in increasing. Some years ago, Ross Fishman used this technique (be different) to create a large buzz when his firm "guaranteed" that people would be satisfied with the service they received from the firm. Today, that firm has grown substantially, in part, because of the very successful ad campaign. The offering of the campaign was so different that business publications like Wall Street Journal, et al, picked it and ran news stories about the campaign and the firm.
Now that's getting a "bang for your buck!"
Coaching is an important ingredient for success
"... coaches work one-on-one with a select few who, with some tailored training and support, break through to higher levels of achievement. The focus of the coaching is to shape the raw material of attorneys' capability into the proven experience of skilled service providers who know how to keep existing business and expand and develop new opportunities at the same time. In other words, to work with motivated professionals to make them into full equity partners." See more by Felice Wagner on the qualities and value of coaches and the coaching process.
Managing your staff is critical to your success
Average managers treat all their employees the same. Great managers discover each individual's unique talents and bring these to the surface so everyone wins. An excerpt from Harvard Business Review.
Lawyers, like managers in every profession, trade and other commercial endeavor, must connect with their staff. Failure to do so will cause conflict, will cause disharmony within the firm and, worst of all, will result in poor client relations.
At the far end of the spectrum, poor law firm (attorney)-client relations is the stuff from which malpractice actions and Bar disciplinary complaints are made.
Pay attention to your most important asset in the firm, your human capital. It walks out every evening. you need to make sure that it returns in the morning, willing and able to do what's needed for you and your clients.
Unbundling your service to lower your price
When you have to bend on the price you quote a client, be sure you first list the things you do for the client for that price. Then, when you lower your price in order to respond to the client's request (based on your competition), take some of those things off the table. Thus, you are not really "lowering the price." You're adjusting the price to fit the appropriate level based on the service to be delivered.
Continue Reading...Recycle your old cell phone
If you have an old unused cell phone, don't throw it away! Instead, get a few dollars from it by going to the following web site: www.oldcellphone.com.
They will send you appropriate packaging for your phone and pay for the shipping. They then attempt to reuse your old phone-often for charitable purposes.
What is your "Credit Score"?
Credit score is an important, but seldom discussed, criterium by which banks and other creditors make decisions about whether to do business with you on credit. See the recent TechnoLawyer article for more information.
Marketing more effectively
For those interested in more effective marketing, consider Tom Kane and his comments. Then, when you want to put his thoughts into a plan, consider our workbook.
I have just returned from the TechShow put on by the American Bar Association's Law Practice Management Section. The best such trade show I've seen in a very long time. Cudos to everyone involved. I'll be posting a summary of some of the best products I saw. Stay tuned.
