USA Today said in a recent column that Fridays are going from casual to e-mail-free. That may be the only way to cut down on the excesses of email. Use email at business only for important tasks that cannot be done otherwise, especially communications in the same office. Address important emails first. And don’t procrastinate responding … This may help some.
While making a presentation about recovering from disasters to the Association of Legal Administrators national conference for financial issues, (see my latest book, Disaster Preparedness & Recovery Planning) I listened to another presenter talking about the insurance aspects of disaster. She noted some frightening statistics: More than 40% of all businesses never reopen after they experience a disaster; of those that do open, more than 30% fail after two more years of operation.
Gary Chen, Senior Analyst for Yankee Group Enterprise made the following important points in the recent Application Continuity 2007 conference about technology:
That means that technology becomes even more important in the management of a law firm. Technology affects current law firm profitability and becomes essential for survival and continuity in times of disaster. In current terminology, "knowledge management" will be the backbone of the success and survival of a law firm. And knowledge management needs enhanced technology to be effective and readily available. As I’ve said before, I believe law firms of the future will grow or die based on their effective implementation of knowledge management.
See the press release concerning our Boot Camp for Law Firm Profitability, given in Boston, MA for the benefit of Lawyers Weekly and the Social Law Library ( a very unique library in the John Adams Courthouse).
Don Downey graciously mentioned our book, Collecting Your Fee: Getting Paid from Intake to Invoice (ABA 2003) with the following comment:
“… a client who genuinely respects you and the work you did will pay your bill in a timely manner.” ED Poll (2003)
In meeting Ed a few years ago and having the opportunity to speak with him on several occasions, I can’t help but say that those few words embody AR collections. Not just law firm collections, but all collections. When we communicate with our clients, we need to keep in mind that every communication either gets us closer to payment or further from a payment. Our motivation, if you haven’t already seen it, should be closer to receiving payment!
Q: My practice is in a rut and I don’t know why. How can I attract more clientele—both old and new—as well as those who come from diverse backgrounds?
Q: As a sole practitioner, I’m nervous about the possibility that new requirements that lawyers must disclose in writing if we don’t have malpractice insurance. How will mandatory disclosure affect my business?
Anita Koddick of The Association of Legal Administrators, San Diego Chapter, said: "If you think you’re too small to have an impact, try going to bed with a mosquito in the room."
Q: As a lawyer who runs her own practice, it seems like everything I do revolves around trying to make more money. Is it professional to always be concerned about turning a profit? Or should I focus more on other things?
While at a recent conference, the speaker mentioned several interesting statistics about the “changing face of America.” In the year 2000, 70% of our population was non-Hispanic White; that percentage will drop to 52% in the year 2050. Similarly, the Hispanic population will double between 2000 (13%) and 2050 (25%). The Asian population will also double from 4% to 8% in the same time frame.
If it is true that people buy from people who mirror them, then law firms’ “cast of characters” will have to change. This is a really strong business case for diversity! Some Corporate America entities have already fired their law firms when they failed to provide the appropriate diversity responses desired by the client. That, more than being the “right thing to do,” will claim the attention of lawyers. And it is happening now.
Good questions to ask yourself, irrespective of the size of your law firm (including sole practitioners):