At the request of Paul Lippe, I have begun posting periodic "Value Tips of the Day" on Legal OnRamp. These Value Tips of the Day (TOD) are directed to inside counsel, but sometimes to outside counsel too. I thought they might of some interest to those who read my blog but aren’t LOR members, so I am re-posting these Value Tips here. Here’s the first one:
1. Figure out what outcomes you want to encourage. You’ve heard the aphorism that "if you buy hours, you’ll get hours." So if you don’t want truckloads of hours, don’t buy them. Figure out what you want instead. Results? Efficiency? Low Cost? If you incentivize these outcomes, you will find yourself getting precisely these outcomes. You get what you pay for, so figure out what you want to pay for.