May 29, 2007

Lawyers Who Cycle Race in Nashville

10:19 am

The flag flew from the second story of the Collins home over the long weekend in honor of our service men and women, past and present. I have a namesake nephew currently stationed in Iraq. To him, and all service men and women currently in harm’s way, thank you for your service and may God keep and protect you.

One of the Memorial Day activities over the long holiday weekend included the Edgar Soto Memorial Stage Races held in Nashville and the surrounding communities. About 500 cyclists competed in the Races. Cyclists were from all walks of life including the . One of the competing teams wore ® jerseys and another wore the green morepartnerincome™ jerseys. The morepartnerincome team is comprised of juniors and under-23 cyclists. It is a development team that will undoubtedly produce some world-class competitors.

Stephen Collins, CEO of , Inc., (pictured above) has been the driving force behind the Edgar Soto Memorial races and their growing popularity. You can learn more about the event by reading the attached article that appeared in The City Paper on Tuesday, May 22, 2007. A copy of the article is posted on the blog Mastersracing.com. For the attached article, go to the post titled Edgar Soto Stage Race.

Cycling as a popular activity for has grown significantly over the last 10 years due in part to the success of Lance Armstrong, the seven-time Tour de France winner from Texas. There are parallels between competitive cyclists and successful . In cycling, as in , measurement improves performance. Competitive cyclists use sophisticated computers installed on their bikes to meticulously record and measure every aspect of their training and racing to increase their odds of winning.

Stephen and I have talked about the possibility of having a morepartnerincome cycling camp for involved in . It could be a fun and effective way to bring together to network and learn how to better manage their firm. If you would be interested in a morepartnerincome cycling camp for , send me an e-mail at morepartnerincome@juris.com.

I can promise you world class cycling coaches as well as workshop sessions that will send you back to the law firm with profitable ideas and insights for increasing law and per-partner income.

If you are a cyclist and would like to help support the morepartnerincome junior team, you can make a contribution or purchase a morepartnerincome.com jersey by going to www.BikeReg.com. If you are not already registered on the site, do so and then use the search function to search for morepartnerincome.com. The proceeds of your jersey purchase go to support the team. Or if you prefer, e-mail me at morepartnerincome@juris.com.

Morepartnerincome.com is sponsored by , Inc. For information about ® products and services for increasing law and partner income contact National Sales Center: 877/377-3740, e-mail info@juris.com or go to www.Juris.com.
 

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May 2, 2007

Staying in Touch Is the Key to Rainmaking

10:31 am

Lawrence and Jill Rose Kohn, writing in the April/May 2007 issue of Law Practice, explained that “Staying Connected” gives those entering the an edge up. Why? It gives you the edge because “staying in touch” is the performance secret of successful rainmakers.

It is so simple! It is so basic! Rain happens when you stay in touch with colleagues, acquaintances and all those with whom you have had business contacts. The idea is to never waste a relationship. Yet, it happens every day as get caught up in day-to-day fires and demands of a law firm. It happens because as our career and social contacts put us in touch with more and more people, our prior relationships fade into the past.

At least that is what happens if you fail to do one simple thing—keep records and use them. An old proverb says the best time to plant a tree is 20 years ago; the second best time is today! If you are not using a database to keep up with the people who can become clients, referral sources, or your promoters and sponsors, the second best time to do it is today.

If your firm doesn’t already have an enterprise level contact management system like ContactEase, you can encourage them to make the investment in one. But don’t wait another day. Go online and purchase a product for your own individual use. Two frequently used and inexpensive products include Act and Goldmine. I prefer Goldmine, but you can’t go wrong with either and they are both less than $200. You can also find other similar products by searching for "contact management software" on the Internet.

Morepartnerincome.com is sponsored by , Inc. For information about ® products and services for increasing law and partner income contact National Sales Center at 877/377-3740, e-mail info@juris.com or go to www.Juris.com.

 

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March 8, 2007

The Midsized Law Firm Bargain

12:18 pm

A February 2007 Law Office Management and Administrative Report article dealing with the continuing rise in large law firm rates includes the following chart of billing rates:

 

 

Compare the above to standard rates of the top 250 firms and major corporate consumers of legal services can reduce the cost of those services significantly by turning away from AmLaw 200 firms and their nearby wannabes.  What is good for midsized firms is that corporate know about the bargain that midsized represent and technology makes it easier for them to find and do business with smaller firms.

 

Robert Denney, reporting on trends in the in the January/February 2007 issue of Law Practice noted the continued success of independent midsized .  He wrote "legal pundits have continued to predict their demise–however, the pundits' conventional wisdom continues to be wrong."  

 

Morepartnerincome.com is sponsored by , Inc.  For information about ® products and services for increasing law and partner income, go to www.Juris.com.

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November 17, 2006

So What Is a "Flexible Schedule" Anyway?????

11:11 am

By: Guest author Janet Strevel Hayes

I have heard the question a million times - usually from another poking fun at the politically correct terminology. “Isn’t “flexible schedule” just a politically correct way of saying ‘part time’?” Hmmmm, I struggle to find the appropriate response. After all, most working a “flexible schedule” are working fewer hours and receiving less pay than their . Thus, it would stand to reason that they are “part timers.”

However, in my mind, “part time” conjures an image of a working specified hours, doing routine tasks until he clocks out, at which point the doors to the office and the courtroom are sealed shut while the disappears into his own world of personal oblivion until time to show up for the next appointed shift at the firm. While that may be the reality of some “part time” jobs, that is not an appropriate representation of flexible scheduling for .

Instead, “flexible scheduling” is, as the name suggests, a working relationship wherein the and the firm both agree to be very flexible in the work arrangement. In some senses, the flexible schedule is the epitome of professionalism in that the ’s focus is on meeting the needs of clients rather than fulfilling a firm’s office hours requirement. The firm expects the to meet the needs of the clients and meet certain business expectations, then the firm allows the to determine how and when to best accomplish those tasks.

At its core, “flexible scheduling” seems to be this generation’s best effort to retain women in the . For years, women have struggled to find a role in the law. Initially, women fought to gain entrance into law school. Then many women who were stars in their law school classes were excluded from jobs within the profession. Now, the opportunities for women to work in the law abound. However, in many cases, it seems that we still struggle. There are some women who are able to continually dazzle jurors with brilliant stories in the daytime and sooth children with magical stories at bedtime. But for many of us, it has been difficult to soar as legal eagles once we become grounded with parenting responsibilities.

“Flexible Scheduling” is a solution offered by some . While the model and method of implementation differs from firm to firm, the basic tenants of flexible scheduling are the same. First, flexible scheduling allows women to work from home. In our world of voicemail, e-mail, handheld wireless and laptops, we have all grown accustomed to working in remote locations. We work in hotels, on planes and in cabs, so why not work from home? Modern technology enables the working a “flex schedule” to stay at home and stay connected to clients and the office.

Another characteristic of flex scheduling is the ability to work varied hours. I’ve never met a successful attorney who worked nine-to-five. For years we have known that the law sometimes demands weird hours. The attorney working a flexible schedule works during the times when family needs can be met by a spouse or other caregiver. Sometimes that means writing briefs on Saturday nights and sometimes that means meeting with clients in the evening. In all cases, it means working at some times when most other people are not in exchange for being able to stay at home when most others are at work.

Finally, almost all “flexible schedule” models contemplate working fewer hours for some season of a ’s life. At least one hiring partner at a large firm has joked that his “flex schedule” are a boon for the firm because they end up doing 100% of the work for 80% of the pay. However, most agree that committing to a flex schedule without committing to handle fewer cases is inviting failure for everyone. Some accomplish this workload reduction by utilizing associates or , others limit their practice to a select group of clients and others commit to working in support roles for other . Of course, the flex time should expect to pay a price for the reduced workload. The price tag may come in the form of less pay, missed opportunity for promotion, and/or limited potential for growth.

For most, flexible scheduling is not necessary and for many it is not worth the cost. However, for a few, like me, it is a fabulous opportunity. I have worked a flexible schedule for almost four years. Unfortunately, it has not proven to be the secret solution to the working mom’s eternal dilemma. (When I’m at home, I still worry about clients and cases. When I am at work, I still worry about childcare and children’s activities.) However, I am sane (mostly) and very happy. In the last four years, I have savored special mornings snuggling with my son and spending time helping with my daughter’s class at school - things I would have missed had I been obligated to be at the office. I have also savored the thrill of courtroom argument and enjoyed the accomplishment that comes with having a case against my client dismissed – things I would have missed had I given up my practice.

So call it what you want, “flex scheduling,” “reduced workload,” gee I don’t even care if you call it “part time.” For me, it has simply been a gift – a wonderful opportunity that my partners have given me to continue to shine for the clients who call me counselor while savoring precious moments with the angels who call me mom!

About the author: Knoxville Tennessee attorney Janet Hayes with Lewis King Krieg & Waldrop, PC, litigates a variety of civil defense cases in the state and federal courts of Tennessee. Her practice focuses primarily on the defense of employment-related claims, including workers' compensation, retaliatory discharge, sexual harassment, and discrimination. Ms. Hayes also writes and compiles advisory literature concerning new developments in Tennessee Law. Her most recent works include an Employer's Guide to the Law of Tennessee Workers' Compensation, An Overview of Sexual Harassment, Employer Drug Testing in Tennessee, and Employer's Guide to the Family and Medical Leave Act. Ms Hays article first appeared in the November 2006 dicta, the official publication of the Knoxville Bar Association.

 

Morepartnerincome.com is sponsored by , Inc. For information about ® products and services for increasing law and partner income, go to www.Juris.com.
 

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July 25, 2006

Partner Income Will Depend on Women Lawyers

11:37 am

Following my post The Work/Life Balance Issue Continues to Damage the Legal Profession, Denise Howell of Bag and Baggage reminded me that accommodations extended to those with child care responsibilities should not be limited to just mothers:

“I know plenty of two-income families who have decided to have the father assume primary child care responsibilities due to pure economics — mom makes more. There could be a host of other reasons (dad gets primary custody in divorce proceedings, etc.) why this discussion cuts across the genders. I think it would be shortsighted (and possibly actionable) for a firm to treat the issue otherwise.”

I agree with Denise that any solution should include fathers who assume the primary child care responsibilities. However, from the perspective of a business enterprise, the main issue is how to provide an environment that makes a legal career friendlier for women who now represent at least 50 percent of legal graduates entering the workforce.

With women accounting for 50% of the new , the primary child care issue is clearly important and getting more important so it is time to invest in exploring new ideas and investigating best practices. Yesterday I ordered the book by Lauren Stiller Rikleen that addresses the issues of Women . Her book is titled Ending the Gauntlet: Removing Barriers to Women’s Success in the Law.

Partner incomes will increasingly depend on the talent of women in your firm. Thus for more partner income it is time to figure out not only how to attract women associates but how to hold on to those women as career members of the firm.

Morepartnerincome.com is sponsored by , Inc. For information about ® products and services for increasing law and partner income, go to www.Juris.com.
 

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July 21, 2006

The Work/Life Balance Issue Continues to Damage the Legal Profession

10:39 am

Denise Howell’s firing by Reed Smith was a shot heard around the legal blog world. See Dennis Kennedy’s post or read Howell’s post breaking the firing news. As Dennis points out, none of us knows why Reed Smith made what appears to be such a dumb decision. The reaction to the firing illustrates that much of the balanced life controversy in is really “code” for the new mother issue as illustrated by Carolyn Elefant’s comments: “If you're a talented woman planning on having kids, why in the world would you EVER choose to work there?”

We need to discuss the new mother issues as the “new mother issues” and not under the politically correct cover of “the balanced life issue.” By cloaking the discussion under the wider net of the work/life balance moniker, we are being asked to condemn law firm work practices in total. If we would deal with child raising issues in an up-front way, more progress toward a woman-friendlier profession would occur. For the future of the profession, progress dealing with those issues must be made!

According to a study done by the American Bar Association in 2001, some 44 women held general counsel or chief counsel positions at Fortune 500 companies, 71 percent of women are in private practice, a majority of students entering law schools are female, about 18 percent of U.S. federal district and appellate judges are women, and two women have sat on the Supreme Court of the United States.

Women now equal or outnumber male law students. The profession can ill afford to make the pursuit of a private practice career unusually difficult for half of the population.

What is the answer? I do not have it, but history may hold a clue. have gone to war and returned to become prominent members of their pre-war . What did and are doing for returning soldiers, they can and should do for returning mothers. Likewise, provide flexibility to guard members to discharge their obligations; they can and should do the same for new mothers. The absences and special flexibility required for both extend over only a limited number of years. Those few years are insignificant in terms of one’s potential lifetime career contributions to a law firm. Another vexing issue to be resolved is health insurance. I will leave that to the experts.

But there is another side to this. Fair or unfair, there is a price to be paid by anyone returning after an extended absence or period of required special consideration and flexibility. While they may have the individual talent and will to catch up, they can’t initially return at the same place in line as their prior . That applies regardless of gender.

As it is at present, the “in” thing to do in media and among consultants, conference faculty, etc., is to portray the life of the attorney as an abandonment of family, friends, fun, and civic and religious obligations. At the same time, we note and report the importance that all those facets of life have played for the successful professional in relationship building and rainmaking.

The success of any “service” business or profession is measured by its service to others. Client interest comes before self-interest. That is why we call it a “service”. The recognizes the service aspect in spades, charging you with the professional obligation to honor, at your own expense if necessary, the paramount interest of the client.

Successful service professionals, business executives, doctors, and investment bankers all find a way to have family, friends, and fun while also participating in civic and religious affairs. Lawyering is no different from any of the above— do not carry a greater burden. Let’s stop pretending that they do.

Let’s turn this conversation around. On the one hand, let’s deal with the child raising years of -mothers; and on the other hand, let’s start celebrating the benefits of lawyering, including the satisfaction of service to others—of upholding “truth, justice and the American Way!”

PS: My above comments by no means excuse of bad management, dumb decisions, poor internal communication, or a failure to value and develop its human capital. There are bad businesses as well as great businesses in every category. The business of law is no different.

Morepartnerincome.com is sponsored by , Inc. For information about ® products and services for increasing law and partner income, go to www.Juris.com.
 

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July 20, 2006

The Myth that Companies Hire Attorneys, Not Law Firms

10:09 am

There it was again! I was reading the current issue of the ABA Journal and there it was—the old myth: “Companies hire , as apposed to .”

It isn’t always true. Companies, in particular, look for companies to do business with. have a life beyond the attorney. have organizational depth. have reputations that go beyond the resume of an individual attorney. Companies negotiate engagements with not with individual .

What does occur is that a dependency and trust develops between the company’s representative and the individual that they deal with. Thus, when clients are given the choice of following a departing attorney or staying with the existing law firm, some will elect to stick with who they know. Departing are always surprised, however, by how many of those clients elect not to follow them.

The compels its participants to cooperate during separation so as to respect the client’s right to choose their representation. Given that professional mindset, many would be surprised to find that some business clients consider such separation and competition for their business as an act of disloyalty. In the commercial world, employers don’t play nice with departing employees who intend to compete.

In the commercial world there is a similar myth. It is the mantra “first you sell yourself, then your company and finally the product.” It, too, is a myth. I once had a very important senior partner tell me that he didn’t have time to talk to a salesperson and besides, “when we decide to do something, we will already know what we want to buy and the company we want to buy it from.”

It is clearly true that the and salesperson has to sell themselves to win the business, but often it is the image and reputation of the organization that gives them the opportunity to do so.

Yes, relationship building is extraordinarily important—in many cases, essential. It leads to business; but don’t kid yourself, you always represent a law firm. For most business buyers that is the important part of the mix. When you can add to that, a law firm representative [the attorney] that the prospect feels comfortable working with, then you have the winning formula.

Morepartnerincome.com is sponsored by , Inc. For information about ® products and services for increasing law and partner income, go to www.Juris.com.
 

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May 31, 2006

Partner Goals Should Determine Law Firm Plans

10:04 am

Extracted from a paper by Howard L. Mudrick, President of HM Soloutions

 

The individual goals and philosophies of the partners form the foundation for building the firm's future.  Unless the partners have common goals, the firm cannot have a future direction.  Partners may all be pulling in a different direction, fighting for priority over the firm resources they need.  When a firm is just starting, the common goal of "making it" from a financial standpoint is often enough to motivate partners to work together.  Once the honeymoon is over, the partners need more. They need to develop a common philosophy of practice regarding: 

  •  How hard are they willing to work?
  • What level of profits is needed to satisfy partners?
  • To what extent should they specialize?
  • What kinds of clients do they want to serve?
  • What type of work will the firm do?  How sophisticated must the work be to keep the challenged?
  • Can the work as a team?  Does the compensation system encourage teamwork?
  •  What are the partners' marketing attitudes?  Are they willing to participate in a formal marketing effort?  Do they agree on who, how and what to market? 

More about Howard L. Mudrick: Mr Mudrick is president of HM Solutions, Inc., a Dallas based management consultancy to the . Howard Mudrick, a CPA and a former partner at Hildebrandt, has more than 20 years experience consulting with plus on-ground experience in financial management positions with midsized .  For a copy of Howard Mudrick’s paper titled Will Fate Plan Your Future or Will You?,  email HLMudrick@aol.com.

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February 8, 2006

Tips for the Law Firm Rainmaker

11:51 am

Recently, Guy Kawasaki’s blog “Let the Good Times Roll” has shown up on the radar screen. His postings are frequently referenced by other blogs.

 

His blog is packed with tips and sound advice for the would-be rainmaker. He is clearly a master sales person. While not directed toward the , his blog Let the Good Times Roll – by Guy Kawasaki deserves to be on your reading list.

 

I tell our folks that we were given two ears and one mouth with the intention that we use them in that proportion. Guy Kawasaki says it so much more eloquently:

 

"Ask good questions, then shut up. The mark of a good conversationalist is not that you can talk a lot. The mark is that you can get others to talk a lot. Thus, good schmoozers are good listeners, not good talkers. Ask softball questions like, “What do you do?” “Where are you from?” “What brings you to this event?” Then listen. Ironically, you'll be remembered as an interesting person."  Guy Kawasaki is a managing director of Garage Technology Ventures, an early-stage venture capital firm, and a columnist for Forbes.com. Previously, he was an Apple Fellow at Apple Computer, Inc., where he was one of the individuals responsible for the success of the Macintosh computer. Guy is the author of eight books including “The Art of the Start”, “Rules for Revolutionaries”, “How to Drive Your Competition Crazy”, “Selling the Dream”, and “The Macintosh Way”. He has a BA from Stanford University and an MBA from UCLA, as well as an honorary doctorate from Babson College.

 

Morepartnerincome.com is sponsored by , Inc. For information about ® products and services for increasing law and partner income, go to www.Juris.com. © 2006 , Inc.

 

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September 28, 2005

Assumptions Law Firms Should Avoid

2:19 pm

Legal consultant William C. (Bill) Cobb set out "The Toxic Ten Assumptions of the " as follows:

 

THE TOXIC TEN:

1.            Effort is equal to value.  The number of is a primary driver of profitability.

2.            Consumers will always need to interpret the law.   have a monopoly on the interpretation of the law.

3.            The , as a supplier, determines what is value-added service¾not the client.

4.            of other is the key to law firm profitability.

5.            Young want to work for and become owners.

6.            The practice of law is a profession and not a business.

7.            The quality of legal services is based upon the experience and expertise of the .

8.            The needs of the market have nothing to do with the strategy and structure for the delivery of legal services.  The define the structure for the delivery of legal services.

9.            What have done in the past is the practice of law.

10.       The practice of law will always be regulated by the courts.

 

Bill gives the reader a detailed explanation of each of the ten items on his Web site.  If you want to know why these ten assumptions can kill a law firm, go to http://www.cobb-consulting.com/doctoxic.htm .

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