My latest post, a continuance of Paul Lippe’s Moneyball and value analysis, is up on the ABA Journal (online). It’s entitled If Legal Services Value Stats Were Created, Standardized, Law Clients Could Play ‘Moneyball’.
Ch-ch-change? Make sure your outside law firm has a good (and consistent) answer when ask the lawyers how the firm has changed its handling of litigation as a result of the economic upheaval of the past several years. If they are handling things "the way it has always been done before," ask yourself how you… Continue Reading
Many of you know that Paul Lippe, CEO of Legal OnRamp, and I write semi-regular posts for an ABA Journal column called The New Normal. My latest post is Adding Value and Forging Alliances with Non-Firm Firms.
Cycle much? Cycle time is one of the most significant drivers of cost. Do you track it? Do you create incentives for your outside firms to lower it? Value Tips of the Day are reprinted here from the Valorem App, available for iPad and iPhone users through the App store.
If not, you should. Clients ask it all the time.
Dan Hull blogs at What About Paris?, occasionally known at What About Clients? WAP?/WAC? is an eclectic mix of things, many offbeat and many thought-provoking. But what separates WAP?/WAC? from many other blogs is Dan’s occasional free advice. It is always worth its weight in gold. For example, in a recent post, Dan discussed the… Continue Reading
Legal thought leadership. I hate the words because they are buzz words that suggest that being a legal thought follower is somehow okay. When it comes to solving problems for clients, you either do or you don’t. It is not exactly pass fail since some are better than others, solving problems is not a spectator… Continue Reading
Citi’s mid-year report on law firm profitability is out (reported here). The news is not good for law firms. Which means the news for clients is even worse. Here are a couple of the highlights from the report: "we have seen expenses grow so quickly that they are now increasing at a faster rate than… Continue Reading
Long-time readers know I believe the answer is "of course." Seth Godin lays out both sides of the argument is a recent post and urges people to choose one approach or the other. Actually, you choose to invite criticism or you automatically default to the option of not doing so. While the reasons for not… Continue Reading
There level of law firm merger activity continues. No real news there. But I just ran across a post by Tom Peters that makes me wonder about the wisdom of the growth by merger strategy. Tom provides some lessons from nature.
AmLaw Daily is reporting that profits per partner rose "marginally" in the first half of the year at approximately 125 of the country’s largest firms. In the wake of the Citigroup report that many law firms have manipulated their numbers (see my post Captain Renault on the Inflation of AmLaw PPP reports) and related commentary… Continue Reading
In August 2009, I wrote that hearing the word "fine" from a client was a bad thing: if you hear the word "fine" (as in, "everything is fine"), understand that you’ve just been sentenced to death. And if you doubt me, remember this post the next time you’re out at a restaurant having a mediocre… Continue Reading
If you wonder whether you should try using alternative fee arrangements, ask your CEO or CFO. We have a strong feeling on what they will say. Value Tips of the Day are reprinted here from the Valorem App, available for iPad and iPhone users through the App store.