Gary Mitchell's Biz/Dev Coaching Blog
I will be speaking at this very timely conference on October 23, in Toronto. Motivated by the rapidly evolving legal landscape, this program will provide a unique forum for senior legal industry stakeholders to come together and discuss developing trends, innovative concepts and related issues, domestically and globally, that will directly affect your profession.
What you’ll get:
Leave equipped with multiple perspectives from managing partners and general counsel who are successfully navigating this evolving legal landscape as they deliver insights into what is working for them, including:
- Practical guidance on implementing Alternative Business Structures
- Assessing and improving law firm fiscal management
- Insights from the Legal Innovators
- Understanding your role in the fight for access to justice
- Creating and maintaining a cross-generational team
- Expert advice on what the in-house client really wants
- Proven strategies to increase profitability using different billing guidelines
- Learn how to preserve your corporate legacy through succession planning
REAL-WORLD APPLICATION! Deep-dive into building a pricing framework from both a private practice and in house perspective, to achieve client satisfaction and derive value at our Pricing Workshop.
Reserve your space today by calling 1-877-927-7936 or by faxing your registration form to 1-877-927-1563 or online. Mention my name, Gary Mitchell and receive a $200 discount. See you in Toronto.
How does all the disruption in the legal market affect you and your clients? How can you make it easier for your clients? How can you make it easier for new clients to retain you? A good place to start would be to have a dialogue with your clients to fully understand all of their challenges, priorities, goals, and their big picture vision. Then look at your competition. What are they doing? What are they not doing? Where are the opportunities for you to stand out? How can you better deliver your legal services with more efficiency and value?
Disruption can mean opportunity.
You’ve likely heard the loosely translated definition of insanity, ‘doing the same thing over and over and expecting different results’. Well I can certainly point to a lot of insanity in the legal industry right now. We are seeing an unprecedented disruption in the legal industry, and disruption is here to stay and in fact will only increase. Heenan was the first and there are likely others to follow. Lawyers at firms at all levels, shapes and sizes are experiencing more turbulence than we’ve ever seen before.
There are so many things wrong with the typical law firm business model. Starting with the billable hour, compensation models, lack of talent development, partners not pushing work down to associates, too many committees, not fully leveraging the skills and experience of your C-level professionals (you know, the ones who went to school to learn how to run a business), like you went to school to learn how to become a lawyer? Yes, I know I’m being a little harsh. But this is crazy. Your clients know it. Some of your junior lawyers know it. And your management knows it. This is not the time to wait to see what the other guys do. It’s time to do things differently and break out of the pack. If you don’t you’re not only foolish, you could be insane.
As I was reading this article this morning, it occurred to me I have heard this before. In fact I have written about it and given presentations. In 2008 I gave a presentation entitled “The Law Firm of the Future” to members of The Legal Sales and Service Association (LSSO), in Boston.
In 2009 I gave a presentation entitled “Crisis or Opportunity” to members of Globalaw in Banff. The content was much the same offering insights into what would be possible with innovation.
This article comes from ft.com and is written by Caroline Binham.
Read it here.
A very interesting article, comment to read if you are interested in seeing into the future of traditional law firms. These predictions have been around for a while, and perhaps the exact time-line may not be precise, but I can see this coming to fruition.
Check it out: The Clock is Ticking