Issue 333 of my Weekly Digest of all things going on in #legal #strategy #pricing #vbp #CRM #clients #customers #innovation was sent to subscribers earlier today. Check it out here.
As Recession Looms, a Flurry of Price-Reduction Requests Will Follow: Don’t let customers throw you for a loop—be ready to answer their demands with data and a clear explanation of the market.Stephan Liozu
The honest answer is, unlikely.
BUT, it has been interesting, as a bye-stander, to follow the fallout from the decision by Yale and Harvard that they will no longer contribute to the US News & World Report’s annual rankings citing:
frustrations with the list’s methodology.
and that the annual rankings are:
…in conflict with commitments to diversity and affordabilitySource: ‘Yale, Harvard and UC Berkeley law schools withdraw from US News rankings‘ in the Guardian
If this is the real reason these Unis are turning their backs on these annual rankings, kudos to them.
I should add though that I have read elsewhere that their already strong brand awareness allows them to make calls that other Unis simply cannot [financially] make – and I can see some truth to that.
Bringing it back to law firms though, as we enter into law directory and award submission season here in Australia over the next 3 or so months…
…should we be questioning why we are even doing this?
After all, how transparent is this submission process????
As usual, comments are my own.
Issue 332 of my Weekly Digest of all things going on in #legal #strategy #pricing #vbp #CRM #clients #customers #innovation was sent to subscribers earlier today. Check it out here.
“Knowledge workers were already exhausted by their jobs before the pandemic arrived: too much e-mail, too many meetings, too much to do—all being relentlessly delivered through ubiquitous glowing screens. We used to believe that these depredations were somehow fundamental to office work in the twenty-first century, but the pandemic called this assumption into question. If an activity as entrenched as coming to an office every day could be overturned essentially overnight, what other aspects of our professional lives could be reimagined?”Cal Newport
This week’s Quote of Week comes via Tom Curry, Managing Partner, Lenczner Slaght on Slaw – A Managing Partner’s Perspective on Legal Marketing:
I also think it’s important for lawyers to remember that marketing and business development is a long-term game and consistency is key. You never know when your efforts will pay off, but they absolutely will if you keep at it.Tom Curry, Managing Partner, Lenczner Slaght
Issue 331 of my Weekly Digest of all things going on in #legal #strategy #pricing #vbp #CRM #clients #customers #innovation was sent to subscribers earlier today. Check it out here
What is a law firm? It is a collection of lawyers who are together because they want to be together. If they stop wanting to be together, then they leave, and the law firm ends.Bruce Stachenfeld, Chairman of Duval & Stachenfeld LLP
Really enjoyed reading a post by Meyling “Mey” Ly Ortiz – in-house at Toyota Motor North America – on abovethelaw.com on the ‘4 In-House Pet Peeves Of Outside Counsel‘.
At first glance all 4 ‘peeves’ seem so obvious.
But that got me thinking: How many law firms have been dropped from legal panels for these offences?
The Business Developer in me thinks: Enough to make it worthwhile remembering what the four are:
- Lack Of Responsiveness
- Not Meeting Deadlines
- Last-Minute Requests
- Talking Down To Us
and take the time to read Mey’s post – you won’t regret it!
photo credit Natalie Pedigo on Unsplash
What’s money go to do with it? [Graph] – Or: Why most law firms struggle to attract and retain lawyers
What is the primary reason a newly admitted attorney should join your
Note the complete lack of responses for “Money now”. Even “Future economic rewards’ scores low.
Then take a look at:
From the list below, what is the primary KPI your firm uses to
measure and monitor associate performance?
Thought provoking – no?
As usual, comments are my own.
Source: MPF 2022 Fall Symposium: