Beaton Research & Consulting

The 'Voice of Your Clients'​ for Australia and New Zealand's professional services firms.

Tim Corcoran has penned “The Future of Profitability Models and Analysis for Law Firms, a telling chapter in a recent Ark Group publication. A regular Dialogue contributor, Tim brings a strong business focus to his work and writing, so it should be little surprise that he begins, “A ruthless market will simply and increasingly ignore law firms whose leaders’ pursuit of outdated success metrics position them loudly and wildly out of sync with market demand.” Law firm profitability…
“Tomorrow never comes” and neither does the “law firm of the future”. So smart law firms have created the future….today.  Here’s how. 1. They design their services intentionally Smart law firms realise that it’s not enough to let their services evolve.  They need to be created. New firms are starting with a blank sheet of paper and asking ‘what if?’.  Established firms are re-examining the way they do things. Using service design methodologies, notably elements…
Remaking News of the Week: BigLaw investing in their own NewLaw businesses draws attention to Roy Strom’s June 2019 Bloomberg Law piece on Bryan Cave Leighton Paisner’s launch of BCLP Cubed. Bryan Cave Leighton Paisner joins Eversheds Sutherland (Konexo) and Greenberg Traurig (Recurve) with recent additions to the ranks of BigLaw firms entering the NewLaw business (aka ‘alternative legal services providers’). Dialogue readers may remember in 2007 Berwin Leighton Paisner spawned LOD, now a major independent…
Today Remaking News of the Week features a piece on BigLaw firm differences over entering the legal tech market. I’d phrased issue more as a question of ‘Whether’ or ‘How’? Here are snippets with the link to the full piece at the end. In my opinion, every BigLaw firm needs to have a view on this issue.  Rhys writes “As the boundaries delineating law firms and legal tech providers begin to blur, a debate is…
Today Remaking News of the Week: BigLaw discounting draws attention to a podcast that hasn’t – at least IMO – received the attention it should. Question: If I’m right, why might this be so? Answer: The closed ranks and conscious denial of BigLaw partners and leaders the world over. Unrelenting price-down pressure is a sure sign that the buyer’s market for BigLaw services is well established. Suppliers’ common response to price-down pressure is to discount…
Remaking News of the Week: Elevate’s James Odell shares his story is a courageous disclosure about how he resolved the conflict between what he was doing during most of his waking hours and his fundamental values as a human being to break free. James wrote The Pursuit of Happiness: Promise of the New Era on 5 May 2019 on the Elevate Services blog. I commend the three-minute read as a lesson for everyone, most particularly those…
Today with Challenger firms are changing the game for senior lawyers, Warren Kalinko, CEO of Keypoint Law in Australia, joins the Dialogue as a contributor. As a ‘doer’ Warren is particularly welcome; in my opinion Dialogue has too few CEOs / managing partners of firms, whether of the BigLaw or NewLaw business model variety contributing to our discourse. While many will consider sole practice as a credible alternative, the rise of the challenger firm has created a…
Today’s Classic: Is BigLaw having its Kodak moment? asked Ron Friedmann reminds us of the conundrum with which many observers of the industry continue to wrestle. If the structural changes having a net adverse impact on BigLaw business model firms are real and intensifying, why is there not more evidence of angst amongst BigLaw leaders? Why are relatively few BigLaw firms not taking more determined action to address these forces? Is there widespread denial? Or…
In Remaking News of the Week: PwC scales LawTech, I feature Richard Tromans’ report: PwC LawTech Scale Up Accelerator – The Full Cohort List. Richard writes, “PwC has now joined a growing number of firms to launch legal tech company groups, with others in the field including: Mishcon de Reya, Allen & Overy and Slaughter and May. While most of the legal market is fairly sanguine about other law firms launching incubators and accelerators,…
I am a long-time follower and admirer of Axiom and friend of Axiom’s former 10-year president Paul Carr, so it’s with particular pleasure that I re-post Mark Cohen’s investigative piece, What’s Up With Axiom?  Not long ago, Axiom was often touted as law’s next big thing. The on-demand corporate legal talent company that launched in 2000 has enjoyed nearly two decades of expanding revenue, client base, talent pool, and brand recognition. Still, the industry…