LawVision

This article was first published February 23, 2021 in PinHawk’s Legal Administrator Daily. Remember when “client team” referred to just the attorney’s billing to a particular client? With flat demand for legal services now and for the foreseeable future, law firms are in a race to increase market share with their existing clients. The most innovative firms have stepped up their game. They have sophisticated teams that utilize professional staff to goose client service,…
Let’s talk about stress. We already know that legal project management (LPM) plays a critical role in boosting law firm profitability and enhancing client relationships. But can it reduce stress levels? Absolutely. LPM instills a discipline and provides structure, for example, for budgeting, planning, and transparency– activities that can clearly mitigate unpleasant surprises. And where you have unpleasant surprises, stress will surely follow. In fact, the American Bar Association confirms that stress has a key…
I am enjoying the discussion going on these days about hourly billing.[1] Rachel Barnett of Brooks Brothers recently outlined a well-articulated view of the negatives of the billable hour. Colin Jasper then turned the topic upside down by pointing out some of its client virtues. Colin went on to make the point that nearly every major law firm is open to creative fees, concluding that the power to change rests in the client’s hands.…
The Alternative Legal Service Providers 2021 survey results are out! (I am talking about the much-anticipated third biennial survey produced by Thomson Reuters in partnership with The Center on Ethics and the Legal Profession at Georgetown Law and the Saïd Business School at the University of Oxford that came out last week. Any images used in this post are from that report which you can find as the top listing under the announcement section here
As I’ve referenced in earlier blogs, there has been shift in law firms over the past few years from individual-focused business development initiatives to team-oriented programs and we expect this trend to continue. Of late, one area that has been of particular interest to firms of all sizes is the development of an industry go-to-market strategy. As someone who spent a number of years at Ernst & Young on the forefront of the development and…
This post was first published February 9, 2021 by PinHawk’s Law Firm Marketing Brief. Client Advisory Boards can help your firm stay on top of changing industry trends and clients’ expectations. Advising your strategic account teams on how best to add value is just one of the many benefits the firm will receive from a board of top clients who care about your firm’s success as one of their business’s legal providers. Why create a…
This article was first published January 26, 2021 in PinHawk’s Law Firm Marketing Brief. Despite COVID-19’s business interruption, competition continues, and the challenges facing a mature legal industry continue. Challenges historically present new opportunities. One of those opportunities is to examine the firm’s marketing and sales processes. For most firms, the marketing support systems are all in place—web site; public relations, marketing technology, social media, etc. With a bit of ongoing updating, the marketing systems…
The Peer Monitor Index (PMI) just reported Q4 results from 2020, observing that the index hit its highest quarterly score in its history and further stating that “the legal industry finds itself … in its best health … in years.” While I am not sure I would agree it is in its best health, the industry performance in 2020 was astounding. It is a testament to lawyer resilience[1] to the practice, the fiscally conservative…
Recently, a client of mine (let’s call her Barbara) created a diagram for a prospect (Gary).  It included a decision tree and pros and cons for selecting Barbara as his lawyer, as well as pros and cons for other counsel he was considering.  It was not self-serving in that it did not lead to the obvious conclusion that Barbara should be selected.  But she was, in fact, selected. When I asked why she thought Gary…
This post was first published January 6, 2021 in PinHawk’s Legal Administrator Daily. By Susan Raridon Lambreth and Dr. Maria-Vittoria Carminati Legal project management (LPM) can enhance client relationships, increase law firm profitability, provide transparency into law department budgeting, and boost matter team morale. But that’s not all. LPM also has the potential to be a powerful tool for improving diversity and inclusion. LPM is a process for defining, planning and managing legal matters.…