Alistair Marshall’s ‘5-5-5 rule’

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Enjoyed reading Marie Russo’s post with my old mate Alistair Marshall on the NEXL blog this week: ‘Winning Clients – 5 Actionable Insights From NEXL Business Of Law Expert, Alistair Marshall‘.

Key take-away for me from this article was learning about Alistair’s ‘5-5-5 rule‘ which, to quote Marie, means:

  • focusing on your relationships with your top 5 paying clients,
  • your top 5 prospects, and
  • your top 5 referrers.

Looks to be sound advice to me – so go take a look at the post!

Photo credit to  Siora Photography on Unsplash

Has the unbundling experiment finally failed?

Really interested to read a post by Neil Rose on the Legal Futures blog yesterday that ‘Insurance and client capability are “main barriers” to unbundling‘.

That professional indemnity insurance might be higher for unbundled matters has long been discussed, and not without merit in my view given the risks associated with quality of work and associated scoping of that work – in other words, correctly identifying who is doing what, when.

While the sample used in the Solicitors Regulation Authority’s (SRA) report quoted heavily in Rose’s article could hardly be called #BigLaw (as I think the term is called these days), one of the comments in the report was very telling:

“Interestingly, insurance companies find there is less risk where a firm uses technology because there is an audit trail.”

While I could be wrong, I suspect that could be the case in many circumstances relating to PI coverage in unbundled matters going forward.

Shared platforms anyone!?!…

What is camaraderie to you?

Great post by Lisa Lang on Above The Law recently on the topic of ‘It Is Really Not About Where We Do The Work – It is about how we do the work.

In the post Lisa sets outs how she defines ‘Camaraderie’ as being:

“…a feeling of friendship and trust that can take hold and grow when people spend time working together.

  • It can help the team perform more efficiently.
  • It can improve team work by maximizing collaboration.
  • It can boost employee retention rates.”

I thought Lisa’s observation here was great.

An in-house lawyer, I also thought Lisa’s comment that building camaraderie requires intentionality spot on:

It is not about where we do the work. It is about how we do the work. It does not matter whether we are working in-person or in a remote environment. Building camaraderie is important, but it requires intentionality.

Enjoy the week everyone!

Photo credit to Hannah Busing on Unspalsh 

Napping Can Make Lawyers More Productive…

Loved, loved, loved the article on abovethelaw.com today that ‘Napping Can Make Lawyers More Productive‘.

Read the article, it’s a gem and Jordan Rothman is my new bestie. I particularly liked:

Management might consider being more open to napping in an office. So long as attorneys meet their billable hour requirements, why should management care what attorneys do while they are in an office? 

I’m sure many of us would agree!

Photo credit to  Michelle Middleton  on Unsplash

What’s your budget?

Going to start this week off with some sage words by Seth Godin (again!):

But what’s your budget?

For those lawyers out there, I particularly liked this one:

Are you a perfectionist, unwilling to ship the work until someone is finally so frustrated, cornered or broke that they pry it from your hands?

Have a great week!

Meetings – who needs them!?

Really love this concept by professors Don A. Moore and Max H. Bazerman as outlined in their new book, Decision Leadership.

“Often the group can make a better decision without meeting to discuss: simply average everyone’s ratings of the options and choose the option with the highest ratings.”

Now that’s a meeting I’d attend!!

[Put my hands up here and say that I have not read their book yet, but the quote is taking from a June 21, 2022 article in Strategy+Business by Theodore Kinni – ‘To improve management, build a decision factory‘, which is well worth a read in its own right.]

Image credit: Benjamin Child on Unsplash