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.
“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
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
Interesting take-out from the MPF 2022 Fall Symposium:
Fifty percent (50%) report that they are “very concerned” about the concentration of client relationships among senior lawyers. Another 36% are somewhat concerned. Yet, only thirty-five percent (35%) have plans in place to help transition senior lawyers toward retirement.
Which begs the questions: ‘How good is your law firm’s Key Client Account Program?‘; or, probably more importantly: ‘What processes do you have in place to ensure the clients of your firm are firm clients, not partners of the firm clients?‘
As usual, comments are my own.
Ever wonder what time of the day it is when lawyers say “enough is enough” and down tolls?
Thanks to Joe Patrice from Above The Law, and the team at Clio – who did the actual research, we now know:
3am is the time when most lawyers say they would prefer not to work.
Which actually surprised me a little as I always struggled functioning in the 12am – 2am space and personally would have preferred to down tolls from 10pm – 2pm and be back on the tolls at 3am.
I will also add that while “working” between 10am and 4pm is great, very little real work got done then because I was either in meetings or on the phone – which often resulted in me working at 3am!
As always, opinions are my own – so if you have something to say please do so in the comments section!!
Issue 329 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.