Stay Focused on the Goal
1. Don’t Over-Lawyer.
Legal matters sometimes present complex questions & involve contentious parties, but not as often as you might think.
How much of your budget is being spent researching questions or fighting about things you don’t care about?
That number should be zero.
2. Make & Use a Good Plan.
Handling transactions, disputes & investigations is like traveling.
Where are we going? How long will it take? Are we there yet?
Our job is to know the terrain, get you the best weather forecast & plan a couple of routes with a map that everyone on the team can read.
Check & update the plan regularly.
Have a backup plan.
3. Integrate into the Client’s Process.
Do you spend your time asking for updates, writing status reports or processing bills?
You shouldn’t– especially if you have systems in place to handle that.
Excellent Result for the Client = Desired Outcome + Fair Price
1. Keep Costs Down.
Traditional law firms don’t support competition & struggle with efficiency.
Matters are often staffed with whichever lawyer is available billing whatever rate they charge.
Is the firm’s partner in LA really the best fit for that aspect of your matter?
Maybe, but that’s tough to confirm without making them compete for the work.
Also, how much of your fees are going to pay distributions to partners you’ve never met or rent for offices you never use?
2. Hire Experience.
Are your matters being used for training?
They shouldn’t be.
3. Align Incentives.
Are you paid more for coming in over budget?
Your lawyer probably is.
You don’t get rewarded for being inefficient.
Why should your law firm?
Use Best Practices
1. Adopt Current Technology & Methods.
Law firms are often slow to adopt current technology & methods because doing so requires changing the business model.
Better to stay lean & ahead of the curve.
2. Develop & Leverage Broad Professional Networks.
Broad professional networks produce better results for the client.
Cultivate & use them.