LawBizBlog

Celebrate our YouTube Anniversary!

Ed — Tue, 02 Feb 2010 12:45:00 -0500

Growing Your Law Practice in Tough Times

Ed — Mon, 01 Feb 2010 20:12:18 -0500

West Pub. Co. has announced the pre-release offering for my new book, Growing Your Law Practice in Tough Times.

I'm very excited about the new book ... and encourage you to take advantage of West's offer. You can also see the new offering at LawBiz.

Law schools don't help lawyers

Ed — Wed, 27 Jan 2010 22:59:43 -0500

In the teleseminar today sponsored by West LegalEdcenter and LawBiz Management, we heard from 3 recent graduates. Their comments were poignant. Law school deans and management should take heed, listen to these comments and then take action.

For the first time, prospective law school students are considering the economics ... they are conducting a cost benefit analysis ... considering their return on investment (ROI). And some are saying the ROI is not good enough.

What is your opinion? What are the considerations that would cause you to go to law school today?

And, if you're a lawyer, what did your law school do or not do that prepared you for today's real world in the legal profession?

Client Security Fund video

Ed — Tue, 26 Jan 2010 10:36:09 -0500

Solos are mistreated by the Bar

Ed — Mon, 25 Jan 2010 12:05:10 -0500

The following is a comment from a very successful consultant, Alan Weiss, one who has had experience with both large corporations and individual executives and consultants: "Small businesses employ far more people than major corporations, and they create many more net, new jobs than do Fortune 1000 companies. They are the real engine of the economy. ... They are poorly treated at the moment by the banks and the government."

Sole practitioners and small firms comprise between 65% and 80% of the profession, depending on whose statistics you believe. One would think that the Bar would be advocating for these members and focusing their educational efforts to help this group of lawyers improve the economics of their practices. Somehow, as suggested by Weiss above, this body of lawyers is "poorly treated ... "

If a dispute over fees every arises in the future (as it did in the Pete Wilson, California Governor era), don't be surprised if the Bar fails to garner support from this group.

State to compel lawyers to respond timely

Ed — Mon, 25 Jan 2010 01:00:19 -0500

California has new rules. If you're part of an HMO, doctors will be required to treat patients within 10 business days of the patient's phone call; and patients seeking urgent care that does not require prior authorization must be seen within 48 hours! Telephone calls to doctors' offices will have to be returned within 30 minutes!

This is in response to a 2002 law that mandated more timely access to medical care.

Can you imagine the State mandating that lawyers respond timely? That people have timely access to legal care? We now have mandated legal care iin criminal matters where the defendant can't afford a lawyer. And, California is experimenting with providing the same rights in selected civil matters.

In medical care, it seems that government intervention is required in order to provide timely and effective care. When will lawyers learn to do that which is right ... providing effective legal care on a timely basis for their clients ... without Bar or government intervention? And when will the Bar understand that its members are lawyers, not clients, and truly seek to help lawyers effectively deal with the economic challenges they face?

Specialization in law practice management

Ed — Wed, 20 Jan 2010 00:02:31 -0500

In a recent article, I suggested that bar associations offer a specialization certificate in law practice management:

"Specialists and their clients do benefit in some way from the more intensive training, but this really is just a matter of degree from the typical CLE requirements.

What if bar associations took the principle further by offering to lawyers specialist certifications in law practice management skills? How is this different from the specialized training that many lawyers have received by earning their CPA or MBA? These questions are important and need to be answered affirmatively and creatively if CLE training is to meet the real needs of lawyers in today's marketplace."

I'm glad to say that I've received many responsive comments. Let us know what you think.

Law school fails to prepare students for real life

Ed — Tue, 19 Jan 2010 17:49:50 -0500

FOR IMMEDIATE RELEASE

Contact: Derek McIver

Ictus Initiative

617-717-8294, Derek@IctusInitiative.com

LIVE WEBCAST TO DISCUSS BUSINESS EDUCATION AT LAW SCHOOLS

Panel Asks: Are Law Schools Preparing Graduates for the Real World?

VENICE, CA January 19, 2010 – Nationally-recognized law firm management expert Ed Poll, JD, MBA, CMC, announced today an upcoming live webcast to discuss how the nation’s law schools teach – or fail to teach – the fundamental principles of business. “Law School: Are Recent Graduates Prepared for the New Era?”, which takes places January 27 at 11:00am PT / 2:00pm ET, will feature four recent law school graduates who will describe how law school did or did not prepare them for them for The Business of Law®. The session is presented in association with West LegalEdcenter®.

“Law practice and all its supporters represent a multi-billion dollar industry that is governed by the same business principles that govern other professions,” explains Poll. “Yet law schools pay little if any attention to these real-world business concerns. The result is that recent graduates enter their new profession woefully unprepared for the realities and the rigors of the industry. It’s time for that to change.”

Over the course of the session, the recent graduates will describe their current environment, relate their experiences in the legal world, and engage in a lively discussion about the state of business education at the nation’s law schools. Moderator Ed Poll will also discuss his top 10 principles to succeed in this era. As Poll explains, law practice is much more than being able to research case law – new graduates need to be educated on client management, billable hours, fee collection, profitability, and business management. Mr. Poll will use the session to demonstrate the importance of these skills, and educate participants on the basics of The Business of Law®.

Those signing up for the live webcast will also be given a unique opportunity to learn more about Poll’s business principles: all participants will be offered a special package deal on books and CDs from the LawBiz® store, including Business Competency for Lawyers (LawBiz® Management Co. 2006) and Poll’s newest book, Growing Your Law Practice in Tough Times (Thomson West, available February 2010). This special package will be made available to attendees immediately following the seminar. In addition, Ed offers weekly insights on his YouTube® channel (YouTube.com/LawBizGuide) and can be followed on Twitter at twitter.com/lawbiz.

About Ed Poll

Ed Poll, J.D., M.B.A., CMC, is a nationally-recognized expert in law practice management. He helps attorneys and law firms increase their profitability by consulting with them on issues of internal operations, business development, and financial matters. Poll brings his clients a solid background in both law and business. He has 25 years experience as a practicing attorney and has also served as CEO and COO for several manufacturing businesses. In 1990, he founded LawBiz® Management Company and is now focused on coaching, speaking, and training law firms.

Poll is the author of numerous publications that have become the definitive works in the legal field, including: Growing Your Law Practice in Tough Times (Thomson West, available February 2010), Law Firm Fees & Compensation: Value and Growth Dynamics (LawBiz© Management Co. 2008), Attorney & Law Firm Guide to The Business of Law: Planning and Operating for Survival and Growth, 2nd ed. (American Bar Assoc. 2003), and The Profitable Law Office Handbook: Attorney’s Guide to Successful Business Planning (LawBiz® Management Co. 1996).

Cellphones and their Liability

Ed — Tue, 19 Jan 2010 10:44:02 -0500

The Business Model

Ed — Wed, 13 Jan 2010 10:45:45 -0500

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Ed interviews Conraad Saam, chief marketing officer of Avvo

Ed — Mon, 11 Jan 2010 11:41:43 -0500

In this interview, Ed discusses Avvo with its chief marketing officer, Conraad Saam. Conrad has worked his entire career in on-line marketing efforts for children's products and services. He says that "kids try anything, while lawyers resist change. You have to put the brakes on kids and press on the gas for lawyers." Today, Avvo puts consumers together with lawyers. Learn about Avvo by listening to this "must hear" discussion.

30 minutes, 41 seconds
7.2MB

Click here to listen.

When to Hire

Ed — Tue, 05 Jan 2010 10:49:05 -0500

Second Photo Caption Contest Winner!

Ed — Mon, 04 Jan 2010 10:42:28 -0500

Congratulations to Phil A. Taylor of Taylor Law Office in Stoneham, MA! He submitted the winning caption, which you can see below. Anthony will receive a LawBiz® Media Pack and a free ½ hour consulting session with me.

Thanks again to everyone who participated. While fewer captions were submitted than before, they were all great nonetheless, and the decision was tough.

Remember, The Business of Law, 2nd ed., along with all of my other books and products, are available for sale at our website.

The Entrepreneurial Spirit

Ed — Sun, 03 Jan 2010 21:11:43 -0500

When I think of the entrepreneurial spirit, I think of the hardy folks of the early 1900s, or earlier, but not the 1960s. Yet, in the Joshua Tree National Park in Southern California, I learned of just such a spirit in the body of Bill Keys.

We (my wife, Bandit, our Airstream, and I) have been spending the last few days in Twenty Nine Palms, home of the largest Marine training base in the U.S., adjacent to the National Park. We joined an Airstream rally.

Among other activities, we toured the ranch owned and operated by Bill Keys and now under the control of the Forest Service. His is a remarkable story. He survived off the land, gained control of water in the area (a rare commodity in this area), filed numerous gold mine claims and leased them to others to do the back-breaking work (perhaps an early franchisor), among other ventures. He sold his land to a friend, making money on the transaction. The friend wanted to create an recreational vehicle resort; this idea had to be abandoned, however, for lack of water. He swapped the land with the U.S. Forest Service for land in the San Diego area, later to be the location of the San Diego Chargers stadium ... he parlayed a small investment into quite a fortune!

With a view to the future and persistent effort (and, of course, some luck!), even lawyers can grab the entrepreneurial spirit and thrive!

As you read this on the first working day of a new decade, it is clear that our profession has been buffeted with many challenges. There is considerable discussion about whether we will ever have "business as usual" again or whether change (however great that may turn out to be) will be permanent.. However, it is clear that lawyers who listen to their clients and adapt their approach to the delivery of legal services to their clients wants will thrive. Those who ignore their clients and focus only on their own needs will ultimately fail.

Which will you be? To help you analyze what you're doing now and what you may want to do to become more effective with your clients, more efficient in delivering your legal services and more profitable, consider engaging a coach. A skilled, independent and objective person working with you can create a shortcut for your success.

Best wishes for a great new year!

Technology

Ed — Tue, 29 Dec 2009 10:51:11 -0500

Transparency for E & O Insurance - Finally!

Ed — Wed, 23 Dec 2009 22:43:57 -0500

It didn’t take all that long ... I received in the mail today, along with more holiday greeting cards, an errors & omissions insurance policy application. Finally, the insurance industry is showing its true colors in the recent campaign to have uninsured lawyers painted with the “yellow band” brush.

The cover letter for the application says, in bold print: “The Rules in California are Changing” and continues to talk about new Rule 3-410, effective January 1, 2010, to the effect that lawyers must disclose to clients in writing that they do not have E & O insurance coverage. The obvious ploy here is to scare lawyers into buying malpractice insurance.

How much more premium money will carriers earn from this new rule? And how much client defections will 20% of the California Bar suffer as a result of the inadequate measure recently adopted by the California Board of Governors and approved by the State Supreme Court? I suspect enough to have made the insurance industry’s efforts worth their while.

As though the bad economy hasn't hurt the sole and small firm practitioners enough this year, the Bar throws more oil on the fire by either causing this group's expenses to increase (to the obvious delight of the insurance industry) or its revenue to decrease. Either way makes this generally economically marginal group's life more precarious ...

Find success by looking in the mirror

Ed — Tue, 22 Dec 2009 11:39:53 -0500

In today's newsletter, I talk about how to find success in growing your practice. The column is entitled Finding Success By Looking in the Mirror.

It's also the time of year to wish y'all the best for the holiday season. My wife and I, and our latest family entrant, Bandit, of our photo contest fame, have come together to express our thanks for what we have, hope that you are enjoying the fruits of your labor and to wish that the contentiousness of 2009 fades away into a more peaceful 2010.

Specialize or Die!

Ed — Tue, 22 Dec 2009 10:53:05 -0500

Doctors do it, why don't lawyers?

Ed — Thu, 17 Dec 2009 21:49:07 -0500

Doctors, like lawyers, have little or no business education in medical/law school. Today's Wall Street Journal (Education for Executives) discusses doctors journey back to school (business) in order to learn skills that were omitted from their medical education. They need these skills in order to run their medical practices, medical groups and hospitals.

Doctors outreach for management training demonstrates a recent shift in thinking: "...we are much more similar to other businesses that we are different." Taking the business side of medicine more seriously can benefit not only doctors, but also patients, a fact slowly being understood in the medical profession.

Why is it that doctors are ahead of lawyers in this understanding? Why is it that medical schools are incorporating management principles into their teaching and few, if any, law schools do? Why is it that lawyers continue to be reactive, rather than be proactive? Worse still, why is it that lawyers fail to react to their clients wishes? Bar disciplinary proceedings continue to show that more than 50% of clients' complaints relate to poor management practices. Why?

Client Rating

Ed — Tue, 15 Dec 2009 11:00:17 -0500