As of today, California has joined 3 other States banning using a hand-held cell phone while driving. Hands-free cell phones are still o.k. while driving. There are many distractions while driving; talking is probably the most dangerous, no pun intended. The law becomes effective July 1, 2008.
Mark Maraia talks about insecure rainmakers in a recent posting. He suggests that such partners hurt the law firm.
When reading his comment, I concluded that the term "insecurity" is a bit misleading; perhaps the label isn’t important, just an analysis of the behavior. The behavior manifests itself as ego-centric; it is a hoarding behavior that we see too often in firms, large and small. It is a mentality that the client is mine, not the firm’s. It is the opposite of the Kennedy paraphrase that a rising ocean raises all the boats in the ocean.
Check out today’s Wall Street Journal, Marketplace Section (B1) in an article by Jared Sandberg. He talks about multi-tasking, a favorite activity of lawyers.
He says, “Multitasking, a term cribbed from comupters, is an information age creed that, while almost universally sworn by, is more rooted in blind faith than fact. It’s the wellspring of office gaffes, as well as the stock answer to how we do more with less when in fact we’re usually doing less with more. What now passes for multi-tasking was once called not paying attention.”
“‘It’s a matter not of if, but when, the multitasker will hit ‘reply’ instead of ‘forward.’ … The question is whether the mistake will be an annoyance or a catastrophe.’”
Chris Carmichael, coach and confidant to Lance Armstrong for many years (and all of his 7 wins in the Tour de France), was talking about overnight successes in the sports field. Some of his athletes ask him how they can reach success quickly, "overnight." His words apply to all endeavors, even the practice of law.
His response: "… So when people press me for shortcuts to success, I tell them that there really aren’t any. If you talk to the guy getting all the glory for his “overnight success,” I’m 99% sure that he doesn’t see it that way. He just sees all the work that went into finally getting it right."
FOR IMMEDIATE RELEASE
CONTACT: Katy Conlon
The Ictus Initiative
(617) 717-8294
Katy@ictusinitiative.com
Ed Poll Named as Fellow of The College of Law Practice Management
SAN FRANCISCO, Calif. September 12, 2006 – California-based law practice mangement expert, Edward Poll, was inducted as a Fellow of The College of Law Practice Management Saturday night during a special dinner and induction ceremony. The event was part of the organization’s 12th Annual Meeting held at the Palace Hotel in San Francisco, Calif.
Jeff Carr, General Counsel of FMC Technologies, in another interview, talks about the "DuPont Model" and compares this model to his own expectations when interacting with outside counsel for FMC. Jeff talks about how the law firm needs to partner with the Corporate Law Department, collaborating together, as contrasted to the traditional vendor-buyer relationship. Collaboration produces more effective representation at a lower cost to the company without discounting either the value or the per hour fee of the lawyer. Although alternative pricing is an important topic that will likely appear again in our podcasts, this is the last interview in our current series on the topic.
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Larry Bodine discusses a recent case where a lawyer’s faxes were held to violate NY’s advertising prohibitions. NY is considering even more stringent rules than currently exist.
However, reading between the lines, I suspect it is no so much NY rules about advertising that were violated, but rather the federal act against unsolicited faxes … and the fact that this same attorney was found guilty in 2004 of virtually the same offense by the same judge.
I don’t know about you, but I would think this defendant should know better … or should not complain if he seeks to be the guinea pig … Of course, I didn’t read that he is appealing the decision. So, perhaps he believes that any notoriety is good notoriety … and his being sued gets him far more press than he could on his own … and he will benefit from that. Not exactly the way I would encourage my clients to market!
The rules of professional conduct require that lawyers have a signed engagement letter for a new client, stating each party’s responsibilities for making the engagement a success. You will have an easier time meeting your client’s expectations and collecting your fee if you incorporate all essentials in the engagement letter.
Make sure clients understand that they’re entering a two-way relationship. The lawyer agrees to perform to the best of his or her ability in accord with professional standards, and the client agrees to communicate and cooperate fully – which includes paying the bill. At minimum, both lawyer and client should stipulate and agree in the engagement letter about the scope of the work to be performed, what fee will be charged, how it will be calculated, when the fee should be paid, and the consequences of non-payment – including the lawyer’s right to withdraw from the matter if payment is not made. When you get agreement on things like this up front, your chances of collecting your fee go up significantly because the client understands what to expect. The time to make it clear is right at the start – as documented in the engagement letter.
More to come…
There is a cycle for every work project: Getting the work (sales); doing the work (production – operation); and finance (getting paid). Cash, being the grease that makes this wheel turn, has to be considered at every stage. In the selling process, what will be the terms of your agreement? Most lawyers forget about this and merely focus on getting the client. If the client fails to pay on time, most lawyers let the client slide, forgetting that the agreement is a two-way street.
Cash is also important in the production cycle. Paying staff – they can’t wait, they have families to feed; vendors, however, can be encouraged to wait a bit.
And, of course, in the finance segment, getting paid is what it’s all about!
Then, we start over with a new cycle.
Collecting fees is always one of the most difficult issues for firms. If their realization rate is not 100%, you need to read further.