Justin Patten talks about those books of 2006 that he considers to be the best. And yesterday, I listened to Charles Jones, a well-known speaker, say that asking someone to list the 10 books that made the most impact on their lives will tell you more about them than anything else can.
While I’ve heard others say something like this, I never sat down to make such a list. Yesterday, I did.
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Are we known by the company we keep? Tom Collins cites a source that seems to conclude we are. And, he cites another source that suggests clients like to know who we represent because it tells them something about our experience in the respective industries of our clients and our expertise. I take a contrarian viewpoint.
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In today’s New York Times, on the front page of the Business Section, an article appears about mandatory retirement age policies of major New York law firms. It seems that law firms have yet to learn from the experiences of their corporate clients. Adam Smith calls this policy idiocy.
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Years ago, when I was a new associate in a small law firm, I suggested that the firm spend money for something, the exact nature of which I don’t recall at this time. I do remember, however, that the managing partner was not the least bit concerned. His exact response was that I could not spend enough money to worry him; he was more focused on bringing new business to the firm and if my expenditure had a chance of doing that, then he was o.k. with spending the money. There didn’t have to be a guarantee of success given by me. One new client would more than outweigh any amount I could spend, he said. (more…)
USAToday writes about businesses, including lawyers, who don’t want to have employees. Rather they create a virtual company, outsourcing their needs to others while performing those functions and activities that lie within the boundaries of their particular skill set and enjoyment level.
Ron Friedmann talks about another aspect of KM – capturing not only your own work product, but that of others. (more…)
Talent will be increasingly difficult to find as this decade comes to a close. The most important key to the success of law firms will be to engage the right personnel, both attorneys and staff. (more…)
Every lawyer is a businessperson. Your practice is your business, and if you do not work to ensure its profitability, no one else will. Some lawyers, however, do not grasp this truth, and risk undermining their business by their own actions.
Over the years past, I have had a great deal of difficulty with this holiday season — not because of the holiday, but because of the commercialization of the holiday.
There are so many people who have enabled me to be successful; it would be impossible to thank them all, individually and with an appropriate gift at this time of year. I was raised with a unique philosophy: “If you don’t recognize me during the year, don’t bother me on my birthday.” (You can translate that: “Don’t give me a gift for the holiday unless you mean it and unless we have an on-going relationship during the year. I’d much prefer a lower legal fee.”
You may think this is extreme; I think there is merit in the idea that a holiday or once a year is not really effective to recognize the value to you of the people for whom you care or without whom you would be less successful.
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The State of California has a new tactic for encouraging payment of its sales and use taxes.
The Board of Equalization, the tax collecting authority for California, will make available as a matter of public record, each quarter, a list of the 250 largest sales and use tax delinquencies in excess of $100,000. There is an exception to the publication if there is a dispute connected with the tax assessment.
Sex offenders must publicly register; their whereabouts, therefore, are known to the general public. Forget about the concept that they’ve paid the price to society by serving time in jail; they forever more will be marked and tracked. Interesting that sales tax offenders may be treated in similar fashion.
Should we expand this idea to include income tax evaders? Will this encourage timely payment?
Too bad we can’t do this with our delinquent clients who fail to pay our bills. It’s unfortunate that the rule of confidentiality prevents us from publicizing laggard clients. Clever lawyers should be able to develop an alternative approach. See my book for several ideas to help you collect your fees without difficulty in the future.