Take a good long look at your practice group in your firm. What kind of reputation does it have? How friendly are you toward other members in the group? How is work delegated?
You could be bringing yourself down - and the firm - with a DYSFUNCTIONAL PRACTICE GROUP.
Negative groups breed gossip, bad reputations, and wasted resources. Not only that, they reflect poorly on the firm!
If you're questioning the influence of your own practice group, here are some characteristics to watch out for.
1. Lack of camaraderie.
Dysfunctional groups have no social fabric. The lawyers are not friends, they rarely socialize as a group, and they have difficulty integrating new people.
A strong social fabric is critical because it builds commitment and trust within the group and it strengthens the group’s culture. The fact is, groups that work hard and play hard have a better sense that membership in the group is worth something. Functional groups are more collaborative, creative and often more profitable.
2. High attrition rates.
Excessive terminations - both planned and unplanned - should signal that the group has poor mentoring and training resources. Pay particularly close attention to unplanned attrition of certain demographic groups (women, minorities, ect.) which can be evidence of partners who play favorites and who don't give everyone in the group equal opportunities to succeed.
3. Low profitability.
Here's where a dysfunctional group becomes a drain: low profitability. Negative groups often cling to one or two top-line successes and bask in the victory. Meanwhile, they will struggle to continue their successful streak. Furthermore, dysfunctional practice group members will use their competitive victories as a threat when it comes time to negotiate compensation or contracts. They will either threaten to walk, or use their top-line numbers to make sure any new rules implemented by the firm don't apply to them.
Take a close look some key performance indicators. For example:
- Percentage of partner hours will tell you if partners are delegating to associates and paralegals.
- Billed value of hours on a file will be an indicator of pressure on rates.
- Partners with poor work habits will attract high costs that are often not specifically tracked and allocated to them.
There's no question that a dysfunctional practice group can bring danger to a firm's reputation. The key is to learn when you're a part of one, or steer clear of one you're about to join. It's just not worth it.
Adapted from article The Dangers of Dysfunctional Practice Groups by Karen MacKay.
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Are you an active member of your local bar association?
If not, then it's time to GET INVOLVED!
A bar association can provide a wealth of opportunities for you to make meaningful connections and build your practice!
Here are five ways to get more out of your bar association membership.
1. Join a section to get referrals.
Most large bar associations are divided into sections representing the various practice areas or topics of interest for lawyers.
Once you join, you can take full advantage of the the section's email listserv or discussion board, and subscribe to newsletters. Other benefits include:
- Making connections with people who do the same kind of work.
- Building a referral source network.
- Raising your reputation by becoming a leader. You can join the section council and eventually become chair.
2. Go to the Annual Meeting.
Put cost and distance aside and make time to go your bar's annual meeting. It will be the place you are going to find the highest concentration of powerful rainmakers in your state.
Go to the meeting and socialize. Collect and hand out business cards. CONNECT!
3. Volunteer for pro bono projects.
Think of a pro bono project as a team building exercise for the bar association. It takes people from very different practices, locations, and experience levels and throws them into a shared exercise where most of the normal rules do not apply. You may find yourself helping the managing partners of a 1,000-lawyer firm with something that is simple to you, but brand new and difficult to them. Those kinds of interactions foster strong and lasting relationships.
4. Sign up for the lawyer referral service.
If your bar has a lawyer referral service, take full advantage of it! It is a cost-effective way to generate potential clients.
5. Utilize the practice management advisor or the mentor program.
Many bar associations have a professional on staff called a practice management advisor (PMA). Typically, a PMA is a former practicing attorney or law firm staff member who offers FREE consultation on issues of law practice management. Others have mentoring programs. If your bar association offers a PMA or a mentor, take the time to meet that person and find out how he/she can help you in your practice.
When it comes to making the most of your bar association membership, this is just the tip of the iceberg.
Don't let your dues go to waste! Make every penny count by reaching out and taking advantage of all the business building opportunities your association provides. It may just be the most cost effective way to build your practice!
Adapted from article Ten Tip for Making Your Bar Association Dues Work for You by Erik Mazzone.
Attorneys are not immune to legal trouble themselves.
Sure, they may devote their careers to upholding the law, but one miscommunication or management error can put any lawyer at risk for a malpractice claim.
And, the results of a malpractice suit can be devastating. Firms go belly up. Attorneys lose their jobs.
But, perhaps the biggest hurdle lawyers face, is not knowing they're at risk for malpractice at all!
Here are some tips to help you and your firm avoid a legal malpractice claim.
1. Have a rock solid written retainer.
The document should clearly identify who the client is, what the terms of your engagement are, and what you are retained to do.
2. Get payment up front.
At the time you are retained, get payment that will cover all initial work that needs to be done on the matter. Replenish retainer funds before they are exhausted. Set up your accounting system to remind you when the amount in trust is getting low.
IMPORTANT: If ethically possible, stop working on the file if the retainer is not replenished. Working on credit greatly increases the likelihood you will not get paid for your work.
3. Discuss expectations.
Clearly communicate to your clients the available courses of action and possible outcomes, all implications of any decisions, how long things will take, and the expected fees and disbursements involved.
4. Document as much as you can.
You want to record advice or instructions that involve significant issues or outcomes, and major client decisions. Recorded communications help confirm what was said or done for the client should you ever need to look back to explain why or what work was done.
Always keep in mind that claims can arise long after the work is completed.
5. Meet deadlines.
Set realistic deadlines for completing tasks and delivering things to clients. Under-promising and over-delivering by getting work done earlier than promised will make clients very happy.
Don’t leave things to the very last minute, as unexpected events beyond your control can prevent things from happening as required in the contract.
6. Ask for feedback.
Don't wait until the file is closed to ask the client how you did. Ask clients for feedback as the matter progresses. Talk to major clients at least once a year, and do this off the clock!
7. Mind your manners.
Be civil and professional - even when you're dealing with a difficult client. Also, avoid annoying behavior like failing to return calls or e-mails, long periods of inactivity, and surprising a client with bad news or a large bill.
Remember, your reputation will precede you.
8. Send over a final report.
A final report will confirm what work was done, and the successes you obtained for the client.
In all reality, having a happy client is your best protection against a legal malpractice claim.
Serve your clients and serve them well and you'll, no doubt, have a fruitful - malpractice-free - career.
Adapted from article 12 Tips that will Help You Avoid a Legal Malpractice Claim by Dan Pinnington.
If clutter and "to do" reminders are invading your work space, it's time to GET ORGANIZED. And the best way to impose order, the experts say, is by creating a very simple CHECKLIST.
Yes, you read that right.
I'm not talking about the newest computer software program or mobile app. I'm talking about sitting down with a pen and paper and WRITING A CHECKLIST.
In his book The Checklist Manifesto, Dr. Atul Gawande identifies two kinds of errors: errors of ignorance, which we make when we don’t know enough to do a job properly, and errors of ineptitude, which occur when we know how to do something but still manage to botch the job. While checklists can't make up for lack of knowledge, they CAN help us perform better at the office. Checklists provide us with clear steps on how to execute tasks.
So, how can you use checklists to improve your law practice? Here are some ideas provided by Laura Calloway in her article, Improving Your Performance with Checklists.
1. Choose an area of your practice that you would like to improve.
It can be anything from client intake to document review. A great place to start is to look back at a matter that you didn’t handle as well as you would have liked. Pick one area at a time to concentrate on.
2. Determine key steps.
Don’t list everything that can be done, just the most important elements and how the work of each team member must fit together. Ask yourself, what things must be done before you can move on to the next step? Focus particularly on elements that might be overlooked if things get hectic.
3. Stop and check your progress.
You will need to pause in the middle of your checklist to allow yourself time to go back and confirm that you've met each step. For example, Calloway says, "... a good pause point in an intake checklist would be after you’ve done your conflict of interest check and some preliminary investigation but before you’ve signed a fee agreement with the potential client."
4. Anticipate problems.
Think through all the things that could go wrong, or have gone wrong in the past. Then, develop a list of potential solutions to each problem. These potential steps will become your "backup" checklist to be pulled out in the event something goes awry.
5. Share the checklist.
If you're working with a team of attorneys, your checklist is not yours alone. It belongs to the team and should be shared appropriately. Be sure to revise it based on their input.
Sure, making a checklist will take a little extra work. But, it will be well worth it even for seasoned multitaskers who, like you and I, may drop the ball sometimes.
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How well do you know yourself?
The question sounds simple but, in fact, many of us don't know the answer at all.
Get to "know thyself" by learning how to articulate your strengths.
Learning what makes you tick - especially when it comes to your practice - could be just what you need to jump start a successful business development strategy.
Here are five ways to identify your business development strengths.
1. Day-to-day activities.
What types of business development activities are you happy doing - and good at?
Taking clients to lunch? Networking? Speaking engagements? Pitching proposals to a client?
Any of these could be one of your NATURAL STRENGTHS.
2. Aspects of your practice.
Articulate your strengths by looking at different aspects of your practice like experiences, talents, or achievements.
Do you have a niche practice? Perhaps you have developed an expertise in that field or industry.
How strong are your personal relationships with clients? Are they loyal? Have they referred any new business?
Are you regarded in the legal community and well-respected by your peers? Perhaps you're known for being a team player.
3. Reputation.
Are you the go-to person for certain types of matters - particularly in your niche? What kinds of leadership positions have you held?
4. Marketing.
How good is your ability to market? Is your system of contacts organized? More importantly, do you make time for marketing? How persistent are you?
5. Personal attributes.
Now, think about who YOU are. Are you not afraid to ask for help when you need it? Are you outgoing? A good listener? Great at making conversation?
Ask yourself all of these questions and then ask - how can you leverage these strengths to make you more effective at business development?
Create a list so that you can see EVERYTHING you have going for you. Then, start playing to your strengths.
Once you do, you'll find business development to be more efficient - and perhaps even fun.
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New business is always nice - but, not every new client is worth taking.
There are TROUBLESOME CLIENTS who skip out on bills and dispute every move you make. And, we can't forget LOW RETURN CLIENTS who are high-maintenance and a waste of time and energy.
This is why understanding the real value of a new client is so important. Your time and money are on the line!
Before you commit to a new matter, use the following guide to help you calculate a new client's value.
- How much revenue would you likely produce from working with this new client?
- Would this client's matter broaden your expertise in a way that you can leverage in future marketing campaigns?
- Would working with this client help boost your credibility and reputation?
- Does the new client have potential to generate repeat business? What about referrals?
The next time you are presented with a business development opportunity, sit down and calculate the dollar value of a new client.
Ask yourself if it's worth investing the time in marketing your service to that person.
Understanding a new client's worth is substantial and it could be the key to the lifelong success of your practice!
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There's no doubt about it. Rejection stings.
Yet, hearing that a client chose to hire someone else over you can be an eye-opening experience.
You can LEARN FROM REJECTION!
How?
Here are three tips for turning rejection into a prized learning opportunity.
1. Despite rejection, continue pursuing the client relationship.
Just because prospects won't hire you doesn't mean they don't like you. It also doesn't mean they won't meet with you.
After losing out on the first business opportunity, put your game face on and request a meeting. Invite the prospect to lunch to find out how he or she arrived at the decision not to hire you.
If you choose not to make contact, you are destined to keep repeating the same errors. And you certainly won't get any business in the future.
2. Don't interpret "no" to mean "never."
Permanent rejections are rare.
If you were not hired, it probably means that your services are not needed right now. But keep in mind, that you may be needed down the road, so be sure to keep in touch with the prospect.
3. An objection is not rejection!
Clients who dispute your fees or the way you do business aren't rejecting you. They are simply raising an objection. Don't over think the situation and write-off the client. Listen to their objections and ask: "What could we do better next time to win your business?"
The more you learn about what clients want, the more likely you are to get their business the next time.
So when you're hit with rejection, take a step back, put your pride in the back seat and ask the kind of questions that will teach you what to do differently and BETTER in the future.
Turn a negative situation into a positive, learning experience! And above all, STAY IN TOUCH WITH THE PROSPECT! He will admire your tenacity and value your relationship. That opens the door to future success!
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4 Simple Ways to BOOST MORALE Around the Office
There's no escaping the damaging impact the recession has had on the legal field.
We've seen people lose their jobs, be forced to take extended furloughs, or endure drastic pay cuts. Chances are your employees and staff have witnessed some of this, sending their morale into a downward spiral. Adding to their stress are thoughts of "who's next?"
Unfortunately, anxiety breeds only more stress around the office, leading to problems in productivity and causing unwanted inner-office tension.
When this behavior starts happening around you, it's time to take charge and start OPENING LINES OF COMMUNICATION!
Here are four simple ways to improve workplace morale.
1. Be straightforward and honest.
Workplace stress often occurs when employees feel as though they are being kept in the dark about what is going on in the firm.
Make it a habit to communicate with employees and staff honestly and openly. Open communication creates a feeling of community, and in a community, members work together to improve the situation for everyone.
2. Convey an action plan.
Another key to raising morale is to communicate the firm's plan of action and strategy for getting though the difficult period. It's important to communicate a vision that everyone can get behind. Also, encourage employees and staff to build on the firm's strategy by soliciting their input.
3. Share some good news.
Spread some good news around the office by touting the firm's achievements and successes. Clear examples of incoming business and financial strength will go a long way in relieving tensions around the office.
4. Keep an open line of communication.
Make it your mission to foster a free-flowing communication of ideas and information around the firm. Organize new team-building opportunities or meetings where people can openly voice their concerns and anxieties. Give staff a chance to vent and, at the same time, come up with their own strategies for improving the firm's well-being.
Your firm can SURVIVE and THRIVE - even under the toughest circumstances.
Start communicating and give employees what they need: a sense of stable community.
Adapted from article Raising Morale: Essentials to Communicate in Critical Times by Marcia Pennington Shannon.
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The phrase "actions speak louder than words" may be an old cliche, but it surely rings true in the work place.
How many times have you felt your requests fall on deaf ears?
Get colleagues, partners, and staff to really listen to you by taking action yourself.
Here are 5 ways to get others MOVING AND MOTIVATED.
1. Say it in-person.
Email may be a convenient way to convey a message to a large group of people, but the emotional context of your real message may be lost.
In-person meetings will keep your colleagues engaged.
2. Request one-on-one meetings.
Like group emails, group meetings don't carry much weight.
You can really effect change by connecting your message to colleagues individually and personally.
3. Be clear about your vision.
Ask yourself what impact would the change have on your colleagues, then try to convey that to all the individuals involved.
4. Respond to inquiries with confidence.
Don't waver when a partner or firm leader questions your work. Being confident and consistent in your responses are the keys to achieving the direction you've set.
5. Hold people accountable.
After you've had one-on-one meetings with colleagues, follow up with an email confirming the verbal commitments that were made. Plan to follow up on these commitments even further down road.
Talk is cheap.
ACTION will always let people know that you're serious - and it will bring RESULTS!
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When it comes to landing a client, don't just "take what you can get."
Less-than-ideal clients can be troublesome, time-draining, or worse - deadbeats!
Start marketing your services to people whom you'd like to work with. People who will VALUE your time and pay for it!
This is not a pipe dream! Ideal clients are out there - YOU just have to identify who fits the bill.
Create an "Ideal Client" profile by asking yourself these questions:
- Where are they located? Are they in the U.S. or in another country?
- What industries are they in?
- If they are companies, what specifically do they do and what are their revenues?
- Would doing their work fit your expertise?
- How does their work capitalize on your strengths and experience?
- What are the typical billings for their matters?
- Will they likely bring you more business and/or referrals?
- What kind of working relationships do they want to have? Collaborative or autonomous?
- What personal characteristics do you want to avoid?
After answering those questions, compose a detailed, written description of who those ideal clients are so that you will have total clarity about the prospects you are going after.
Remember, it's okay to be picky about clients.
Focus your business development efforts by pinpointing and finding your IDEAL CLIENT today.
In the end, you'll find that you actually enjoy the work that you do - and the clients you work with.
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