Category: Marketing
Larry Bodine reports from the Illinois State Journal-Register:
"Who’s licensed to practice law in Illinois? None of your business.
That’s what the state Attorney Registration and Disciplinary Commission has told a Seattle company that wants to post the names of lawyers on the Internet and assign grades based on performance, awards, experience and disciplinary records.
Avvo (listen to our podcast interview with Mark Britton, CEO and Founder of Avvo, Inc.) has posted information online about lawyers in more than a dozen states. The company, which started its Web site a year ago, says it has received lists of lawyers from 30 states. Illinois, however, has balked.
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Many lawyers are finding easy ways to communicate with clients … by sending status reports. If anyone wants a copy of one, send me an email to edpoll@lawbiz.com and ask. These are simple forms, originally developed by Michigan attorney, Wes Hackett, a good friend.
Many lawyers, unfortunately, never figure out that their client is unhappy. They just think that the client has no additional legal work. They don’t realize that the client was so unhappy that, though they didn’t complain, they just didn’t return! What a shame not to have the sensibility to even know this.
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"Law is subject to the same laws of economics as every other business." Thus spoke Tower Snow, former chair of Brobeck, the then large San Francisco law firm. (more…)
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Carolyn Elefant at My Shingle suggests that airlines new fees for passengers who check baggage may be seen as "nickel and dime" fee increases. And, she wonders out loud whether lawyers are doing the same thing to clients when they charge for photocopying, etc. (more…)
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The California State Bar Board of Governors last week adopted a new professional rule of conduct. Lawyers must now advise their clients in writing when they do not carry malpractice insurance, either in their engagement agreement or in a separate document.
The rule is flawed, as I’ve argued in more than one past post. Since lawyers are skilled in finding loopholes, I suspect that this new rule will be honored in its breach … and therefore not provide meaningful protection to clients.
There are creative alternatives the 30,000 sole and small firm lawyers impacted by this rule may take to avoid the intent of the Board and its new rule: (more…)
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I’m proud to announce that I will be one of two speakers at the prestigious Bernard E. Witkin 10th Annual Memorial Symposium on May 20th in Oakland, CA. See the announcement …
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The telephone is still the best, least expensive marketing and communication tool available to us.
This week, in consecutive phone calls, I was hired for two separate, large engagements. I’m excited about both of them. And in the process, the teachings of my father many years ago came to mind. Stay by the phone. When the phone rings, and you respond, you will be hired. But, if you don’t respond, you won’t be hired. This is similar to the adage that if you don’t swing the bat, you can’t hit the ball. Marketing efforts are designed to make people aware of us and to encourage them to call.
A corollary for me was that I can’t “sell” anything to anyone. I can only hope to make people aware of my skills and availability. If they have a need, and they know who I am, they will contact me to discuss whether my skills match their needs. It is always the buyer who makes the decision, not the seller. With this mind set, then, the “seller’s” obligation is to educate the buyer about the value of the services provided and the benefits to be received … not the “features” being offered by the seller.
These are lessons learned early in my career that I believe still resonate today.
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It’s time to stop focusing on real estate, construction, banks, mortgage companies and airlines, according to Larry Bodine. Go where the money is: energy, steel, industrial metals, coal companies and railroads. See the 10 Best Performing Industries on MarketWatch.com.
This reminds me of the book written by Harvey MacKay, Dig Your Well Before You’re Thirsty or the phrase "… fish where the bass are…"
In other words, provide services that your clients need … If your skills are no longer in hot demand, modify your practice area to adapt your skills to the needs of the clients. If you’re in the larger firms, and are practicing real estate law currently, you might be better advised to learn bankruptcy or workouts to adapt your current skills to the needs of the clients. If you’re in a small firm or sole practice, this might be more difficult to accomplish with less personal economic impact, but still possible.
The key is to either provide services the market needs … or to have the capital to sustain the wait until the market comes back to your skills.
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Michael Brychel, Senior Legal Auditor at Stuart Maue, headquartered in St. Louis, Missouri, writes an interesting review of our newest publication, Law Firm Fees & Compensation: Value & Growth Dynamics.
He says, "For those who accept the premise that “law firms ARE businesses – get over it” this book will be an effective jump start to incorporating that perspective into useful practice."
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Price and value are clearly not the same when it comes to legal fees. While both are time sensitive (as of any given moment in time), the former generally is set by the seller/lawyer and the latter is generally perceived by the buyer/client. Price can be value, in my opinion, when the client is involved in the setting of the legal fee and price is determined by the value perceived by the client. Some folks call this "value billing."
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