Silly Car Stuff
Because my regular dose of Autoblog wasn’t enough today, I thought I’d add this link to PhatPhree’s 50 Coolest On-Screen Rides. A pretty complete list, but B.A. Baracus’ A-Team van didn’t even crack the top 20? Come on.
Sock it to me
I’m a big fan of Idea-a-Day and subscribe to their daily e-mail alert. The other day, this one graced my in-box:
Create a sorter in the style of coin sorters, but for socks. It would be able to pair them up, and hold one by until the other sock of the pair was inserted into the machine. It would also dispose of socks with holes in, and throw away the other one when it is inserted. Day 1710 by Becky Walpole
If you want to get a daily dose of cool and quirky ideas, go ahead and subscribe.
Pleasing None of the People None of the Time
In this post Kathy Sierra, who writes the tremendous Creating Passionate Users blog, explains why “featuritis” is so bad:
… continuing to pile on new features eventually leads to an endless downhill slide toward poor usability and maintenance. A negative spiral of incremental improvements. Fighting and clawing for market share by competing solely on features is an unhealthy, unsustainable, and unfun way to live.
Though Kathy is talking about software and other consumer products, I think the lesson is a valid one for professionals. You can’t be everything to everybody, so stop trying.
Quote of the Week
Alex Wexelblat at Copyfight is my quote of the week:
It's important to remember that no matter who you are - CVS, Microsoft, the Cartel, whoever - most of the smart people in the world don't work for you. It really would be better all around if more people would keep that in mind.
Best Movie Review Ever
Saw Batman Begins. Clearly the best Batman movie ever. Maybe the best 2.4 hours of my life. Made Star Wars: Episode III look like Star Wars: Episode II.
Thanks to Buffalo Wings and Vodka.
I want my WOW's. The non-legal software for lawyers challenge.
Quick, what is the coolest program or application you’ve used in the past year? Was it made for lawyers? Probably not.
Thinking through my experiences at LA’s LegalTech, I’m struck by just how little cool stuff is out there for lawyers, technology wise. The leading-edge applications sold to lawyers to manage their practices (combining e-mail, calendaring, document management, timekeeping, etc.) seem so 2001. I guess I’ve become jaded and unimpressed with new legal technology because I’ve come to realize the programs deliver far fewer “wow’s” then some things a guy cobbles together in his basement and shares on the web for free (if you don’t believe me, take a look at Tasktoy or GTD TidlyWiki). And because the money isn’t out there driving third-party programmers to improve upon the base product with plug-in’s or complimentary applications we are stuck with a few main players innovating at their own pace and failing to deliver the “wow’s” any professional who spends hundreds of hours a month working with his or her computer deserves.
So here is what I’m going to do about it. I challenge you to tell me how you’d run your office if you couldn’t use any legal-specific program. You need to be able to use e-mail, keep your contacts, share group calendars, manage documents, track to-do’s, and keep and bill your time. You can talk about one program, or dozens. If you suggest Outlook, I want to hear what plug-ins or add-ons you recommend. Data can reside on your servers or with an ASP. The only rule: the program(s) you use have to do at least one thing demonstrably better then anything in the legal field. Apple users, have at it too! And if you are a legal vendor with something that is really cool, let me know. I’d love to be proven wrong!
If you've already bought it, it's free to you.
Not sure exactly what to make of this quote from Bill Gates, taken out of context from this really good Fortune article on how he and Ray Ozzie handle e-mail:
Q: What about your open-source rival OpenOffice?
A: Gates: Well, most people already own Microsoft Office, and so it's free to them, whereas OpenOffice is not the same quality, not innovating, and doesn't have all the modules. We compete with our installed base by innovating.
Microsoft is now giving away free software — as long as you’ve already paid for it. Are the upgrades included?
Think in Ink
Finally, a blog about working in ink that has nothing to do with the Tablet PC.
How comfortable are your client chairs?
I blogged a bit about this before, but Howard Mann gives a great tip on seeing yourself (or your company) as others do:
I asked the President of the company to go outside and come in as if he was a client arriving for an appointment. Within 5 minutes of sitting in his own reception area he didn't like how uncomfortable the chairs were, hated that he could see a bunch of old boxes in a cubicle down the hall, didn't like how dark it was and we stopped right there.
Stupid exercise?...perhaps. Definitely simplistic. But it was a start.
It will all seem unimportant until it is you waiting in the reception area or stuck on hold.
What if you took some time away from trying to figure out what your clients want next and spend time every month experiencing how they actually see you today.
Electronic Discovery in a Nutshell
After spending some time on the vendor floor of LA LegalTech, I realized I couldn’t swing a dead cat without hitting at least five competing Electronic Discovery vendors. There is a reason for all of this money being spent in the sector, of course, because if you attend a seminar on electronic discovery you will be scared shXXless. Talking to a few vendors, I was reminded of this recent post on Engadget about the lovely cycle that keeps some of these companies in business:
Usher’s posting is sure to set off a wave of panic among nervous execs who will in turn hassle their IT managers, who will in turn hire high-priced consultants to come in and upgrade their network security, which will in turn be broken by bored teenagers in Russia, which will be reported on by us and other blogs, which will then be repeated by the mainstream media in a tone of nervous excitement, setting off a wave of panic among nervous execs who will…
The Best Productivity System Ever
Patrick (last name unknown) wrote about his productivity system in a comment to this really great post from Ishbadiddle:
The best system IS the one that works for you. Here’s mine:
1) Get married
2) When something needs to be done ask your spouse to do it
3) Prioritize: If your wife says that she will do it, it is important.
If your wife says that you should do it, it’s kinda important.
If she doesn’t say anything, it’s not very important.
4) Go to the web and read up on all the past episodes of “The Shield”
5) Let a week pass.
6) Ask your wife if she did “those things” she was supposed to do. Look concerned.
7) She will ask you if have done your things. Look exhausted and say you will try.
8) Do this for a couple of months. Every once and while ask her “Isn’t there something we were supposed to do this week?” This will ensure that little things don’t fall between the cracks. It also implies that you care, which believe me fellas, goes a long way.
9) Do one or two things that your wife has reminded you to do three or four times.
10) Go back to step 2.
Single Sentence Procrastination Fix
Overcoming Procrastination Through the Pull Method:
I choose to start on one small imperfect step, knowing that I have plenty of time to enjoy life.
Quote of the Week
“Fix the holes in the bucket first, and then worry about how to add more water!” — Howard Kaplan
This quote comes from the author of one of my favorite blogs, A Day in the Life of a Persuasion Architect. The quote comes from this post talking about a ClickZ article that collected common complaints Search Engine Optimization (SEO) firms have about their clients. Howard’s take:
It's pure lunacy to change your site to accommodate the recommendations of a firm whose stated goals are to provide more qualified traffic, when you've previously displayed an utter inability to close on the qualified traffic you currently enjoy.
The lesson for lawyers? How much “qualified traffic” visits your web site, calls your office, or comes in for an initial appointment yet doesn’t retain your firm? Until you know the reason(s) why, don’t spend any additional marketing dollars. Instead, take your marketing budget (you have one, right?), divide it by your hourly rate and spend at least that amount of time fixing the problems. Once you get your act together, spend the dough to tell other people what a great lawyer you are.
P.S. It seems like the rethink(ip) guys like this quote too.
What's For Dinner?
As I’ve been reflecting on how cool being a dad is on this Father’s Day, I thought I’d share this post from the Eide Neurolearning Blog about the benefits of family dinner:
According to a Harvard study, family dinners were more important than play, storytime, or other family events for building vocabulary. And "families that engaged in extended discourse at the dinner table, like story telling and explanations, rather than one-phrase comments, like 'eat your vegetables,' had children with better language skills, said Dr. Catherine Snow, a professor of education at Harvard and the researcher of the study. Parents should be encouraged to use adult-level vocabulary and encourage back-and-forth conversation with their kids. It also helps social skills. Today, 65% of families with kids under the age of 6 have dinner together 5 or so nights per week, but that drops to 50% if a family has kids age 12 to 17.
When I was growing up, we almost always had dinner as a family. My wife and I are lucky enough to share dinner together with my daughter nearly every night as well. I know my father better because of it. I hope my daughter will be able to say the same about me once she’s grown.
Are Professional Service Fees Heading for Collapse?
Dave Pollard looks into the future in his thought provoking post about the Wal-Mart Dilemma, File Sharing and Lousy Service. He has some sobering things to say about professional services providers:
Providing good service is expensive, and large corporations are trying everything they can to force customers to a 'self-service' (i.e. no service) model. Those in industries where they can't just tell the consumer "Throw it out and buy a new one" are in especially deep trouble. Examples: the news media, professional services (legal, medical, financial etc.) are all under fire for their skyrocketing prices for less and less service time and value.
Dave predicts:
The price 'bubble' for services will collapse, just as it has for products and just as it will for stocks and real estate. This will also be bloody. Public corporations in service industries will be crucified by shareholders as those incumbent service providers who break ranks drive service industry ROIs down to more reasonable levels. Large-firm 'professionals' who would faint at the unheard-of idea of salary cuts will see cuts in double-digits, which, on top of the incredible hours they already work, will probably lead to massive strikes by people you would never expect to see striking. Companies which make shoddy products and which try to shove off all service to outsourcers or offshorers, like the big computer hardware and software makers, construction companies and lawn tractor makers (according to Consumers' Union, these industries' products have the highest failure, repair and complaint rates, and none provides quality service) will face a consumer revolt, and demands for government regulation to improve or offer free replacement for defective products and work -- which these industries will fiercely lobby against.
To call Dave’s viewpoint a bit left of center is an understatement. Nevertheless, Dave makes some compelling arguments. Take a look at the full post, if only for Dave’s explanation of the ‘Wal-Mart Dilemma’ — one of the best I’ve read.
Price Shoppers
Craig Arthur has an interesting take on responding to Requests for Proposals (RFP’s) that should resonate with every lawyer who has had a prospect call and ask the question, “How much does you charge for X?” Here are some excerpts from Craig’s post:
… [Y]ou should respond by sending a letter politely explaining why you don't answer RFPs or bids and why it isn't appropriate for either party to do business this way. The letter should make it very clear that you would like to talk with them to explore the full range of their issues to determine if you may be of service to them. If they choose not to do this then that is their choice.
After all, at some point you must eventually get face to face with them if they are to become a client. Why not start that process early? Do this and you will eliminate a lot of wasted time.
Another argument against hourly billing
Mike McLaughlin continues his great tips with Tip #8: Get Paid What You’re Worth. Here’s just a bit of what Mike has to say:
Want to know the fastest way to earn less than an entry-level consultant in a medium to large consulting firm?
Start your own consulting business and charge by the hour.
According to a recent study by Kennedy Information, Inc., the average salary offered to consultants from top business schools will hit $109,000 this year, and that will be accompanied by five-figure signing bonuses and annual bonuses ranging from $5,000 to $30,000. The total, first year compensation package for a newly-minted consultant could reach over $150,000.
An independent practitioner charging an hourly rate would have to work awfully hard to match that newbie's salary.
Not to be tedious, but do the math: There are 261 days in a year--once you subtract the weekends. If you take a month off for vacations, holidays, and the like, you're starting from a base of 230 billable days, give or take a few.
Research shows that firm owners will burn about 110 days a year on non-billable activities like marketing, administration, education and traveling, leaving about 120 days of billable time.
Assuming you're able to bill for 70% of those 120 days at $2,000 a day, and your overhead is a measly 20% of revenue, your annual, pre-tax earnings would be roughly $135,000. Not a bad day's pay, but you're carrying all of the business risk, and making less than an inexperienced consultant.
Mike is right-on, and goes on to make the argument in favor of charging based upon value instead of time.
Solo lawyers face the same dilemma. Using Mike’s math, you’d still have to bill ten hours each day at $200.00 per hour to make the $135K he suggests. This is why there aren’t many solos making the kind of money new grads from top law schools make their first year in practice. Part of the problem is that solos tend to devalue their own services, setting their hourly rates far below their big firm colleagues because they feel compelled to compete on price. The marketplace also discounts the experience and expertise someone working out of a storefront can bring to a complicated transaction.
So why don’t we all move away from hourly billing? Some of our clients demand it, but the more pervasive reason is that while lawyers are thirsting for information on how to move away from hourly billing, so few are willing to take the risk (and spend the time) to incorporate value pricing into their practices.
One solution: Approach five of your best clients (ones that really like what you do) and ask them how they’d feel about “beta testing” your new value pricing packages. Ask them what they’d want from you and how much they’d be prepared to pay. Agree to limit the “test” for 90 days or so, and meet with them regularly to evaluate how things are working.
Alternatively, if you have a practice with non-repeating clients, offer a value pricing alternative to every 10th client and see how it goes.
Remember, unless you try to change the way you charge for your services, you’ll be tied to your timer as long as you practice.
Banks and RSS Feeds
I’ve been living in RSS land for a while now, even using MindManager to aggregate my feeds from Basecamp, Backpack, and Trumba (I use Onfolio for the rest). Why can’t my bank give me an RSS feed of my account balance? It doesn’t need any more info, just the number. I know it wouldn’t replace Quickbooks, but would be a nice feature, nonetheless.
LexThink.com is Now Live
Dennis, Sherry, and I have been working hard on LexThink! 2.0 and we’ll have some news to share next week. For now, take a look at our new web site. It is still in beta, and we will be adding a lot more to it in the next 7 days, including forums, multiple RSS feeds, and more entries in the blog. I created the site using Squarespace, a hosted blogging tool that has tons of cool features, and am pretty pleased with the result. Let me know what you think, and stay tuned for some news on LexThink! Solo: Building the Perfect One Person Enterprise.