Today is the last day to take advantage of the pre-publication offer, to purchase our just-released book, More Secrets of the Business of Law: Ways to Be More Effective, Efficient and Profitable.
If you follow the advice set forth on these pages, you are guaranteed to have happier clients! … and make more money!
Managing partners of large law firms have told me that the firm incurs a loss of $200,000 to $400,000 for each lawyer that leaves the firm. This figure includes the cost of recruiting and training, among other costs.
Ed Poll is a noted member of the National Speakers Association and regularly presents keynote speeches and seminars for law firm retreats, conferences, individual clients, bar associations and other organizations. Ed’s practical wisdom comes from his twenty-five years of experience as a law firm chief operating officer, corporate general counsel, government prosecutor, sole practitioner and partner, and 16 years as coach and consultant to the legal profession. Regardless of your audience, Ed speaks your language.
Thousands of audience members across the country are raving about Ed’s popular new way of looking at a practice. Ensure your event’s success and call today to reserve your place on the speaking calendar. For more information on how a presentation can meet your goals, contact us.
Law firm retreats and conferences are unique times for partners to confront tough issues, change the firm’s direction, focus on a strategic plan, and/or develop a consensus. A successfully custom-designed retreat can achieve more than you hoped to get done in an entire month. Ed Poll’s practical, broad years of experience on all sides of the table can help you make the most impact out of your event. Leave the planning and facilitation up to LawBiz® Management, so that you can focus on the issues being addressed at your event. (more…)
Many attorneys are opting to what is common in other professions: buying an existing practice rather than starting from scratch. An existing business has a history of sales, revenue and operation costs and–despite what many think–studies show that, in spite of new ownership, customers of an existing business tend to continue their purchasing habits.
The following people often buy a law practice:
Thanks to Larry Bodine for highlighting my June article about the true cost of blogging.
Your law firm is worth more than its books, computers, furniture, and accounts receivable, and more than 40 states now recognize this asset. Whether you are large firm looking to merge, retire or break up, or whether you are a small firm looking to take advantage of the changes in ethic rules over the past ten years and receive full value for your practice-recognized law firm strategist, Ed Poll, can help you turn your years of effort into real money. If one of the following describes your situation, you may be able to sell your practice:
Ed Poll interviews attorney Rick Simses on the subject of alternative fee billing. They discuss sharing the risk of a matter with the client… what it means and how it should impact the client’s fee.
31 minutes, 20 seconds
7.3MB
I was listening to an interview of a Best Buy management person talking about their RO program. This Results Oriented program, started by Best Buy in 2002, has transformed the company’s performance.
The program is still in the experimental stage. But preliminary results are astonishing.
What is the program? Tell management teams that they no longer have to worry about hours; they will not be paid based on the hours they work. They can take off during the middle of the day to see their kid’s soccer game, go to a doctor, or contemplate their navel.
They will be paid based on performance! Is the job getting done? Have they fulfilled their commitment to the company and to the other members of their work community? These are the factors that are important to the company.
The person interviewed said that the performance has improved significantly as measured by any and every standard possible. People no longer look at the clock. They focus on the job, the quality of the job and the satisfaction of their "customers," the people for whom the work is being done.
When I heard this interview, I thought of "value billing" and client satisfaction. We see more and more examples in industry how to improve the relationship between the company and the work environment, between the employee and the customer. Sooner or later, law firms will have to change their business model to reflect this advanced thinking in industry.
The July issue of LawBiz Tips has just been published and can now be seen at www.lawbiz.com.