I participated in the Vistage All-City event in San Diego last week where Brian Beaulieu of ITR Economics spoke about how to stay ahead of the curve in light of the economic forecast for 2014 and beyond. His view: The long-term economic outlook remains dark with the next big downturn expected in 2018. Inflation and…
Author Archive:
For the last several months, I’ve been refocusing my service offerings around ways I can help law firms and individual attorneys build law practices that will be sustainable beyond the next five years. In doing so, I realized that several books have become fixtures on my desk. Two are directly related to the legal industry.…
U.S. Supreme Court Justice Sonia Sotomayor officially has reached rock star status with the crowds she is attracting for her book tour around the release of her memoir, My Beloved Life. I had the privilege of listening to her speak Sunday night at the University of San Diego, where she offered the perfect mix of…
Referrals are the primary source of business, but a strong network and the ability to build great relationships will not be enough to build your book in the coming years. The buying behavior of those who purchase legal services has changed and the way lawyers pursue new business must change too. For any lawyer that…
Do you have what it takes to build a $1 million law practice? As law firms become more business focused in response to economic, technological and other market forces impacting the practice of law, the ability to generate business is increasingly important. Whether it’s $1 million, $10 million, or $250,000, most of us have a…
Over the last year, I’ve been analyzing my work with law firms to apply the lessons learned and improve the services I deliver to clients. In doing so, several themes emerged that impact — in some shape or form — nearly every client I have ever worked with: 1) The marketing function — whether handled…
The legal industry is famous for lookie-loo marketing. They watch what their neighbor does and say we should do that too. The problem with this approach is multifold. First, there are only a handful of firms that see the return on marketing investment time and resources that they want. Second, it assumes all firms have…
Despite the financial downturn and increased competition, it continues to surprise me how few lawyers effectively use competitive intelligence to evaluate market opportunities. Lawyers instead look for opportunities where they have found them in the past, wait for opportunities to find them, or engage in random acts of marketing without clearly identifying who they are…
As a follow up to my Moneyball and the Law series addressing whether statistical data is a better measure of law firm performance than subjective insight, I’m introducing a new framework that tests this hypothesis. The Law Firm Performance Index™ To achieve the highest level of performance, law firms need to understand the outward-facing factors…
The fifth of a five-part series. The book and academy-nominated film Moneyball chronicles how the Oakland A’s transformed the business of baseball by proving statistics rather than subjective observations are a better measure of a team’s success. Taking a page from Moneyball, I set out to prove that objective measures are a better predictor of…
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