Innovation Innovation

Savvy Bloggers Panel

My friend Bruce MacEwen (Adam Smith, Esq.) asked me to join some amazing bloggers on his Savvy Bloggers Panel.  He asked us, "Looking out five to ten years, what will the single most significant change be in terms of how sophisticated law firms (think AmLaw 200) are managed, on the 'business side'?"  All of the responses are here.  This is what I wrote:

A: I have spent all but two years of my legal career as a solo practitioner or as a member of a two-lawyer firm. Because I’ve never worked for a “sophisticated” AmLaw 200 (or even AmLaw 20,000) firm, I’m afraid I can’t give a meaningful answer to Bruce’s question. Instead, I’ll answer a different question: What is the single most significant change small firm lawyers hope AmLaw 200 firms don’t implement in the next ten years?

The single greatest competitive advantage small firm lawyers have over their big firm counterparts is the ability to quickly adopt and implement innovative practice methods. Though many small firm lawyers have fallen into the billing-by-the-hour business model practiced by most large firms, I would suggest that a significant amount of the alternative pricing of -- and value billing for -- legal services comes from the small firm lawyers in this country. In my firm, for example, we have completely abandoned the billable hour and have moved to a service-pricing model that gives our business and transactional clients a range of services (including “free” telephone calls) for a monthly fee or a flat per-project cost. In doing so, we’ve managed to make our clients happier, increased our margins, and decreased the time we spend in the office. My greatest fear is that AmLaw 200 firms will adopt and embrace a similar business model.

In contrast to small firms, large firms have an unbelievable amount of institutional knowledge. For any given legal project, large firms have likely completed a similar (or the exact same) task hundreds of times. Their “inventory” of documents, memos, briefs, complaints, and opinion letters dwarfs the resources available to small firm lawyers. My fear is that if a large firm decides to couple that “huge selection” with “everyday low prices,” the WalMartization of the legal business will begin.

In short, if large firms were to apply the “Big Box” retail concept to the delivery of professional services, small firm lawyers would disappear like Main Street retailers when Wal Mart comes to town. Just think, the complex, expensive legal work most big firms seek is only a very small tip of a very large iceberg. Most business and transactional work is of the garden variety. There is no reason a large firm couldn’t set aside a team of associates and partners to do that kind of work for hundreds or thousands of small businesses for a low monthly or annual fee.

Doing quality work is just a small part of the equation. The big firms would have to deliver an improved customer-service experience as well. Instead of locking young associates away in the library for years, have them be the first point of contact for small business customers (even better, hire retired lawyers as “greeters” for new clients). Train these lawyers to answer the basic legal questions on the fly, perhaps by consulting a firm-developed knowledge base, and promise an answer to more complicated questions within a day or so. Guarantee telephone calls returned within 60 minutes – or that month’s service is free. Designate a chief client-service officer, and make that executive’s compensation dependent upon customer satisfaction levels. In short, take a look at what non-legal companies that excel at customer service are doing, and improve upon it.

Finally, to make this model a sustainable one, firms must hire the best and brightest students. Instead of focusing on the top five percent, recruit and hire law students based upon their capacity for creative and innovative thinking, people skills and business acumen. If law firms concentrated on hiring the best lawyers (instead of the best law students) schools may be forced to actually prepare students to practice law, instead of giving them the esoteric theory-based education most law students get now.

Do I think that most big firms will take these suggestions to heart? Not really. And for that I am thankful.

Read More
Innovation Innovation

Huge Anouncement: LexThink! Chicago

LexThink! Chicago: Building the Perfect Firm.

What do you get when you bring together a select group of innovative, big-thinking people from the worlds of law, business, technology, marketing, and consulting for a full day and ask them to design the perfect professional service firm?

We call it LexThink! Chicago.

Innovate.  On April 3, 2005, we will turn the Catalyst Ranch space in downtown Chicago into laboratory space for a group of innovators and thought leaders.  We'll create and test ideas  for transforming the delivery of professional services, to better match the needs of professionals and their clients alike.  With a  full day of targeted presentations, small group discussions, collaborative brainstorming and other exercises, we will will mix innovative business practices  with proven client service strategies and promising technology applications to create the formula for the perfect professional services firm.  The focus of every conversation will be on turning talk into action, and bold ideas into realities

Motivate.  Attendees will take away dozens of practice-changing ideas while making many new friends. LexThink! Chicago will be a chance to meet in person bloggers, authors and speakers that have motivated and challenged us over the years. Spending a day with this group will generate renewed energy and enthusiasm and give you a new action list for making the changes you want in your practice, your business and your life.

Activate.  In too many cases, the surge of enthusiasm from an inspirational conference drains away steadily as you return to the real world.  LexThink! Chicago is designed to create extended relationships, with opportunities for structured feedback and continuing discussions, social support, and ongoing motivation to transform your practice.  The collaborative experience will continue with ongoing discussion groups, monthly conference calls and other ways to connect with LexThink! alumni.

LexThink! Chicago is the brainchild of well-known lawyer bloggers Matthew Homann, Dennis Kennedy and Scheherazade Fowler, who have been thinking (and blogging) about ways to make meaningful changes in their professional practices. LexThink! Chicago grew out of one of their brainstorming sessions and their own “what if” questions.

To permit meaningful participation, to generate the best conversations, and to work within the limitations of the creative space we've reserved, participation in the first LexThink! Chicago will be by invitation-only.  We’re limiting it to a select group of  professional service providers—lawyers, accountants, consultants, strategists, coaches, technologists, marketers and entrepreneurs. If you are interested -- or know someone who might be -- get in touch with us soon by e-mailing Matt Homann at homann@gmail.com. We will send out the invitations before the end of December, so make sure you let us know about your interest as soon as you can. We are seeking sponsors for LexThink! Chicago and expect to set the registration fee at less than $200 per attendee.

 Many people always ask “Why?” There are also some who ask “Why not?” We’re the second kind. How about you?

 

 

Read More
Resolutions/Goals Resolutions/Goals

Resolutions for Lawyers, Day 17

I spent all day yesterday shooting a commercial for HP and Intel.   I was interviewed about my mobile computing habits, the benefits of WiFi for mobile lawyers,  and my use of the Tablet PC.  I got to use one of  HP's Tablets during the shoot instead of my Toshiba M200 (not better, not worse, just different). 

During the shoot I showed my Tablet (as well as the HP) to the sound guy.  He had just bought an Apple iBook, but said he would have rethought that purchase had he gotten to use a Tablet first.  I can think of no other Microsoft-based product that elicits a similar envious reaction from Apple users.  Can you?

That leads into my resolution for the day:

Before you buy your next computer, try a Tablet PC.  Use it for fifteen minutes or so.  Once you experience the "magic" of using ink on your computer, you will have a difficult time with that boring old Dell or Thinkpad. 

Trust me on this one. 

Read More
Resolutions/Goals Resolutions/Goals

Resolutions for Lawyers, Day 15

I know, I’m getting behind on my resolutions.  Once you see the big announcement later today, I hope you’ll understand.  Anyway, here is the first in a flurry of resolutions between now and Christmas:

Pick the three computer programs you use the most (or should use the most), and learn how to use them better.  Set aside an hour per week to spend reading the manuals and playing around with the software.  Better yet, get a “Dummies” book and read it through.  You will be amazed at the amount of time you can save just learning the in’s and out’s of most computer programs.  You would also be wise to make the rest of your office (especially staff) do the same thing.

For me, the three programs I vow to spend more time with this year are Adobe Acrobat, Microsoft OneNote, and MindManager.  Oh, and I will learn to use ActiveWords to get better at each.

Read More
Web & Tech Web & Tech

Big Announcement Number One

I have a bunch of big announcements to make over the next few days, and here’s the first.

Zane Safrit, blogger and CEO of Conference Calls Unlimited, has been a participant in my Think Tank Tuesday Group since its inception.  I’ve been totally smitten with Zane’s service since he set up our group with free toll-free conference call and webinar services.  Zane is one of the businesspeople I know who “get’s it.”  For example, his business has pulled most of its web advertising, and instead, put the money towards improving its customer’s experience with stunning results.  Take a look here and here for examples. 

I asked Zane how I could help his business grow, and he has made this generous offer — free to [non]billable hour readers.  You get your choice of any one of the following:

One free web conference, with the included conference call; or

The first month free of their monthly flat-rate services; or

Ten Percent off a toll-free reservationless conference call.

Here is the rub:  You have to call Chaz Czinder at 877–227–0611, extension 18.  Chaz will be your personal conference calling expert.  I've been using Chaz since we started the Think Tank Tuesday calls, and he's great.  He'll explain the service and set up everything you need.  He'll even call you after your conference to make sure everything went well.  Just tell Chaz that I sent you.

Oh, and one more disclaimer:  I am getting nothing from Conference Calls Unlimited for this testimonial.  If you think I'm alone in extollling their service, go here and watch video testimonials from other customers.

If you are unhappy in any way, and I'm sure you won't be, drop Zane a line and he'll personally make sure you are satisfied.

Read More
Innovation Innovation

The Magic of Recurring Payments

Here is a great post from another of my favorite new blogs, PsychoTactics.

This year for the first time ever, the yoga teacher has been able to take a break.

Not for a week, or two weeks, but for a whole month. And all the while there is a steady flow of income coming through the door, despite the class being shut.   That's changed from last year?

The answer is: Recurring Payments.

You may not think it's a big deal but there's some part of your business, if not a major part of your business that could be continuously fed by a recurring system.

Lawn mowing services do the recurring thingy.
Fancy membership clubs do the recurring thingy.
And so do a lot of businesses.

Of course the yoga teacher is going to replace the one month away by giving goodies away to his class. But in essence, for the first time ever, that yoga teacher is getting a break. Some time to breathe.  And all because he's put a recurring system in place.

You should too. Right away.

Read More
Resolutions/Goals Resolutions/Goals

Resolutions for Lawyers, Day 13

As I get caught up on my resolution series, here is a great post from one of my favorite new blogs, Marketing eYe.  Read the entire post about how Alexander became “the Great.”  The resolution I took away is this:

The best and the quickest way to become more successful is to focus on your one main problem. Focus on your "Darius." When your main problem is solved, you will find that the other minor problems you had took care of themselves or are not a problem anymore!

My main problem is procrastination.  What is yours?  What are we going to do about it?

Read More
Innovation Innovation

Law Professor Evaluations

I teach a law school class (Pre-Trial Practice and Procedure) at Washington University Law School.  I generally enjoy the experience and have almost always had great students.  This year was no exception. 

Near the end of every semester, the teacher is asked to leave the room and the students fill out course evaluations.  I don’t know how many other professors read them, but I do.  In fact, I’ve learned quite a bit from reading the students’ comments and have changed my teaching style based upon some of the criticisms I’ve received.  As helpful as the current evaluations are, I’d really like to read the responses to these questions from Jeremy’s Revised Course Evaluation Form:

Section I. Please rate the following on a scale from one (virtually none) to five (really quite high).

1. Odds you’re getting called on in any given class.
2. Odds you’ve done the reading
3. Chance the professor actually thinks he/she’s lecturing to a bunch of colleagues, who already know as much as he/she does about the subject.
4. Chance the professor actually wrote his/her most recent book.
5. Ease of online shopping while still catching enough of what the professor is saying so as to not feel completely lost.
6. Probability you’d be seeking emancipation if you found out the professor was your parent / grandparent
7. Amount of audiovisual equipment used.
8. Amount of food provided throughout the course of the semester.
9. Unpleasant professor odor.
10. Chance you’d take the class again, knowing everything you know now, except the material itself, because if you knew that, then taking the class again would be pretty silly, wouldn’t it?

Section II. Please answer with a percentage estimate between 0 and 100.

1. Percent of classes you have attended.
2. Percent of classes you wish you’d attended
3. Percent of students, on average, who return after the 5-minute break in the middle, if applicable.
4. Percent of students, on average, who fall asleep during any given session, with 10 extra percentage points added if there is regularly snoring heard throughout the room.
5. Percent of time you believe the professor has prepared for class.
6. Percent of time you believe that if the professor has in fact prepared for class, the professor needs some help in the “preparing for class” department.
7. Percent of time spent basically reading from the assigned materials.
8. Percent of time spent basically reading from unassigned materials.
9. Percent of time spent reading from the Bible.
10. Percent of your total net worth you would pay to have all memory of this class erased from your mind.

Section III. Open-ended questions. Please print neatly.

1. Is the professor funny? Give examples.
2. Do gunners seem to gravitate toward this class? Name them. We’ll get them.
3. Draw your best imitation of the professor’s blackboard penmanship, with an emphasis on illustrating the degree of legibility.
4. Would you recommend this class to your friends?
5. Would you recommend this class to your enemies?
6. Would you recommend this class be exported to Yale?

Section IV. Bizarre and Unrelated Logic Game.

John has Con Law on Monday and Tuesday. Katie has Corps on Wednesday and Thursday. Bill has Tax, but he can’t remember what days, since he never even bought the book. Susan signed up for a seminar, but wishes she didn’t since there’s so much reading. Classes that meet on Wednesday never conflict with The West Wing. Which class has the hardest exam?

Now, if any of my students are reading this and thinking about answering these questions for my class, remember, I haven’t turned in your grades yet!

Read More
Law Office Economics Law Office Economics

It really isn't about price.

David Young, on his Branding Blog has this interesting post pointing to an MIT Sloan School of Management Study that shows slightly more than half of consumers are willing to pay more for a product (while shopping online) if it comes from a well-known vendor.

The study, which ran from early 2003 to early 2004, monitored 10,000 searches by shoppers looking for books that were among the 100 most popular titles. The searches took place on DealTime.com, an Internet comparison-shopping service that lists several dozen retailer offers at a time. The listings include pricing and shipping information, product ratings and more.

Researchers chose to monitor book shoppers because the products they buy are exactly the same.

"We went in thinking a book is a book," Erik Brynjolfsson, director of the center for e-business at Sloan, said Wednesday. "But we found out that people care a lot about who they buy from, even if what they're buying is a commodity."

Fifty-one percent of the shoppers scrolled down from the lowest priced books at the top of the list to the better-known retailers, paying several dollars more to buy their tomes from a vendor they knew. The hardcover books monitored in the study cost an average of $42.

Of course price made a difference to many, given that 49 percent of the shoppers bought the lowest-priced book. But Brynjolfsson and his fellow researchers expected closer to 100 percent of the shoppers to choose to pay the least possible for the same product.

"The vicious price competition predicted (on the Internet) by retailers and economists is not what we found," Brynjolfsson said.

The lesson from the study, according to Brynjolfsson, “Don't think that price is all the consumer will care about.”

What should we take away from this study?  Remember, it is not always about price.  It is about trust, competence, and convenience.

Read More
Resolutions/Goals Resolutions/Goals

Resolutions for Lawyers, Day 11

If you are interested at all in learning about how other businesses have mastered the art of client service, read Secret Service by John R. DiJulius.  DiJulius runs a string of spas in Ohio and details many practical yet ingenious ways he uses to deliver an unforgettable (and profitable) customer experience.  I came away with literally hundreds of great ideas from reading this book.  One of the three best books I’ve read this year. 

Read More
Innovation Innovation

Vote for Me as one of America's Top 20 Legal Thinkers

Legal Affairs Magazine is looking for the country's twenty most influential and important legal thinkers.  I would have nominated Dennis Kennedy, but he doesn't think much of the list, so instead, I'm nominating myself. 

Today, I proudly announce my candidacy for the position of Influential and Important Legal Thinker.  Though the nominations have closed, there is a place on the ballot for a write-in candidate (remember, my name is spelled "HOMANN").

 So vote early, vote often, and vote Homann!

One more thing, I'm going to need a campaign manager.  Rick, are you free?

Oh, and if you want to support me, I've got this great button you can put on your site.

On a semi-serious note, bloggers have accomplished some pretty amazing things.  Wouldn't it be cool to have one of our own (even if it is me) named as a more influential legal thinker than Clarance Thomas?

P.S.  I can't afford a nanny, so I think I'm pretty safe there. 

Read More
Resolutions/Goals Resolutions/Goals

Resolutions for Lawyers

Three closings (in three different counties), two emergency hearings, and one article due have kept me from posting the last few days.  I’ll be back Friday morning with six more resolutions (to get back on track), and some really big news. 

Until then, take a look later today at the first Savvy Blogger Panel postings at Adam Smith Esq. 

Read More

 Blog Categories