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Category Archives: Management

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Are you cheating yourself?

Posted in Cash Flow - Finances, Coaching, Management
The business cycle consists of three elements:  marketing to get the new client and retain the old client; production to produce and deliver the legal service, advice and/or documents; and finance to collect your billings and operate your firm.  The first two tend to be the focus of most lawyers.  Billings and collections tend to … Continue Reading

Baseball

Posted in Cash Flow - Finances, Management, Personal Thoughts
In yesterday’s news, the Oakland A’s (the best team at this point of the season) announced trades that brought them 2 outstanding pitchers. Why did they do this? After reading Moneyball, you will know why. Teams’ trade activities highlight the two seasons of baseball, the first that will end in a few days and the … Continue Reading

Civility?

Posted in Coaching, In The News, Management
The conduct of lawyers, not just litigators, continues to go “south.” Why is this? Have the teachings of our mothers and fathers gone unheeded? Or, in this more litigious world, and the greater incidence of divorce (most of which is with great conflict), do manners, good taste and just plain “niceness” go out the window? … Continue Reading

Funded Jobs

Posted in Articles, In The News, Management
In today’s newspaper, Don J. DeBenedictis, staff writer for the Journal, discusses law schools’ new approach to help law school graduates find jobs. This idea is one of several being discussed to match the supply and demand of legal services. It is clear that there is a greater demand for legal services than is now … Continue Reading

Legal demographics are changing

Posted in Management
An ABA task force recently found that  only 56% of recent law school graduates achieve full-time employment as an attorney within twelve months of graduation, over the last five years, applicants to law schools have declined by roughly 50% from approximately 100,000 to approximately 50,000 per year. This will have a dramatic impact on the … Continue Reading

New rules for IRS 1099

Posted in Management
New rules relating to the issuance of 1099 forms are in place that impact even funds in one’s IOLTA account. If you have oversight and management of the funds such as selecting the expert witnesses or investigators in a personal injury matter, you may have sufficient dominance to be required to issue a 1099. See … Continue Reading

Law of supply & demand in the legal profession

Posted in Management
According to the ABA, only 56 percent of nearly 46,000 law school graduates had a job in 2012 requiring bar passage nine months after graduation. And less than 1 in 5 of the legal problems experienced by low-income people are addressed by a private attorney or a legal aid lawyer. The president of the ABA … Continue Reading

Formula for success

Posted in Management
In response to my recent question, one of our readers responded by saying “… Listen to them (clients), acknowledge what they have said (“active listening”), make sure you understand their concern/pain, and address it (their concern) effectively (competent representation per the rules of professional conduct)…”  Sounds like a formula for success.  … Continue Reading

Don’t send your clients elsewhere

Posted in Management, Marketing
Linda Popky, marketing consultant of Leverage2Market, writes her Top of Mind piece this week about a serious marketing blunder, as follows: “…. (T)he local Orchard Supply Hardware (OSH) store featured a great buy on a tabletop propane heater….There was only one problem. A propane heater naturally requires propane to work. And even though OSH carries … Continue Reading

Gender or Family Issue?

Posted in Management
In the June issue of the ABA Journal, ABA President Laura Bellows talked about the gender pay inequity in the legal profession, comparing today with 50 years ago when President Kennedy signed the Equal Pay Act. The difference is 77 cents now vs. 59 cents then. And even today, Ms. Bellows says “(f)emale equity partners … Continue Reading

Pick Up the Phone!

Posted in Management, Marketing
While doom-sayers proclaim that the legal profession’s problem is too many lawyers, practical experience often tells a different story.  A friend recently shared this story with me: “When we needed an immigration attorney, only one returned our calls of enquiry from the several my husband called locally, (she got our business) and when we were … Continue Reading

The lawyer crisis from the other side

Posted in Management, Marketing
I wrote recently about the great chasm between lawyer supply and demand for legal services. I suggested that this is an age-old problem only because many lawyers are courting a very small market segment, the large companies of the world. The bulk of the consuming public has less ability to pay but still great need. And … Continue Reading

The obvious

Posted in Management
Years ago, I wrote that new lawyers preferred to work for law firms that invested in their training so that they could become better lawyers.  Nah, the response was: They want the money. I responded that when you get $100,000 plus as a newly minted lawyer, the money is good, but secondary. And, of course, … Continue Reading

Law Firm Mergers: Two Blinding Glimpses of the Obvious

Posted in Management
The Wall Street Journal carried a column on November 11, 2013, “Big Law Mergers Questioned," that contained two blinding glimpses of the obvious – one explicit, one implicit.  The explicit one was straightforward, yet seemed to elude the understanding of the writer:  that in pursuing mergers to create ever-bigger organizations, law firms are simply following … Continue Reading

Ageism Is Not the Answer for the Legal Profession

Posted in Management, Marketing
For the 2013 academic year, law school admissions were headed for a 30-year low, a decline driven by student worries about rising tuition, debt load and unemployment after graduation. Potential law students increasingly understand that today it is a fool’s gamble to spend many thousands of dollars in the hope of getting a well-paying job … Continue Reading

Orrick Pillsbury: A new firm on the horizon.

Posted in Management
Should the merger take place between Orrick Herrington & Sutcliffe and Pillbury Winthrop Shaw Pittman, there will be a reordering of the top U.S. law firms. The BCS rankings reorder every week after the Saturday college football results are known. So, too, do the BigLaw rankings change every time there is a major merger. Will … Continue Reading

The Power of Focus: Success

Posted in Management
When I was in my undergraduate studies, I realized that there were two types of learning. There were those who were naturally brilliant and could play during the semester, “cramming” or studying only before exams; they did quite well. Then, there were those of us who required continuous study throughout the year in addition to … Continue Reading

Ageism comes to the legal profession

Posted in Management
Most people will agree that there are too many lawyers, an oversupply. (Parenthetically, I disagree; it seems to me that there is a dislocation between the supply and the demand for legal services, a situation that the organized bar has never been able to reconcile with successfully.) But I digress. Assuming, for the moment, that … Continue Reading

Who Is “Worthy” of Being Helped?

Posted in Coaching, Management
In a recent article, the writer describes a twist in medical fees. A specialist, in this case a cardiologist, is charging a premium retainer fee for accessibility. That’s access, not treatment! The levels of service created by the cardiologist are $7,500 per year for “concierge” service, $1,800 for “premier” status, and $500 for “select” status. … Continue Reading

MyCase adds to its integration

Posted in Cash Flow - Finances, Management
MyCase legal practice management software has announced an integration with the popular accounting software QuickBooks. This is an important integration, as it allows law firms to have full synchronicity between their practice management and accounting software systems. The integration comes at no additional cost to MyCase customers. For at least 15 years, I have been preaching "integration" … Continue Reading