On Monday, we noted the surprising news of a young partner leaving Wachtell Lipton to start his own boutique firm. Given the rarity of partner departures from the super-lucrative Wachtell, my colleague Staci Zaretsky described the news as “basically like seeing a unicorn.”
Why did Jeremy Goldstein, a 40-year-old partner in the firm’s executive-compensation practice, leave WLRK? The American Lawyer piece about Goldstein’s move painted a happy picture of a lawyer striking out on his own to be more entrepreneurial and to run his own business.
But we wonder if there’s more to this story than meets the eye….
I didn’t know what Prezi was at the beginning of the year. I first heard about it at LegalTech New York in February. Since then, I’ve seen it all over the place and heard of lawyers using it in trial. I have since used it a couple of times, so I am going to explain the benefits and the drawbacks and how to use it effectively.
What Is Prezi?
When you start a Prezi presentation, you begin with a big blank slate. You place pictures and text boxes on your blank slate and pan and zoom into them. Instead of going from slide to slide, you pan from focal point to focal point on your big canvas. The cool part about it is the zooming. You can zoom way into something. So, say you are doing a case about blood clotting and you want to show what it looks like on a cellular level, you would do it like this:
The other day I walked into my local Starbucks. It was moderately full but there was only one other couple in line. I placed my order after the couple in front of me (tall, skinny chai, extra hot), then sat down to wait. I pulled out my phone and thumbed it to life, scrolling through emails, checking Twitter, the usual. After a bit, I realized I had been sitting there for a few minutes without hearing my order.
The couple in front of me had gotten their order and were doctoring their coffees with condiments. The barista behind the counter had a flicker of motivation as he looked down at the ready area of the Starbucks bar. He was a typical-looking Starbucks barista — mid-to-late twenties, tall, skinny, bearded, with thick-framed glasses. A general demeanor of indifference.
“TALL SKINNY CHAI EXTRA HOT.” I walked up to the bar to get my order.
“Uh, your order has been ready for a bit but, uh, they forgot to call it out. If it’s not hot enough, I guess I can make you a new one or whatever….”
I’m writing today’s column from New York City, where I’m covering Thomson Reuters Vantage 2014, a great conference focused on mid-sized and large law firms’ use of technology. There have been fascinating discussions about how larger law firms are adapting to change and are incorporating some of the latest technologies into their IT infrastructure. Not surprisingly, however, it turns out that like solo and small-firm attorneys, large and mid-sized law firms are often just as reluctant to adopt new technologies and processes despite overwhelming evidence that doing so is the best way to stay competitive.
But the good news gleaned from this conference is that some larger firms are adapting, just as many solo and small firms are. And that’s my goal with this column: to showcase how individual solo and small-firm lawyers are using new technologies in their day-to-day practices. In the process, my columns will hopefully encourage and help other lawyers to do the same.
In today’s column I’ll be featuring Jill Paperno. Jill is a long-time assistant public defender, having worked at the Monroe County Public Defender’s Office in Rochester, New York for over 27 years. She’s currently the Second Assistant Public Defender and is the author of Representing the Accused: A Practical Guide to Criminal Defense (affiliate link). In other words, Jill is a diehard criminal defense attorney and has dedicated her life to defending our constitutional rights.
I participate in at least one group discussion per month where a lawyer — employed or not — asks the collective for advice about starting a solo practice. These nonbelievers envy our independence and our ability to adapt quickly to client needs and changing trends.
We respond with the usual tried and usually true advice: Get ready for uncertain income. Don’t overspend. Don’t underspend. Find a mentor. Find another one. Practice in a unique niche you are passionate about, but also serve the needs of the community. Have a sales mentality. And did I mention network?
After the jump, I will talk about a few other things an unemployed lawyer aspiring solo practitioner should also consider — and rant about the worst reason to start a solo practice….
Are you tired of getting the same questions over and over again from prospective or existing clients? Should I choose an LLC or incorporation? Will I lose my house in bankruptcy? What is a power of attorney? How long will my divorce take? Rather than respond to these same questions over and over, why not school your clients instead?
These days, schooling clients is easy. With the rise of online training and college courses, a broader segment of the population is now familiar with online education. Plus, there are a variety of powerful free tools to create online educational programs to educate clients so that they’ll have a grasp of the basics.
No, this isn’t another Reema Bajaj story, though she might have benefitted from this law firm’s marketing strategy. There’s a fine line between selecting a catchy firm image and becoming fodder for this site’s mockery. This firm is dancing on that line.
On the other hand, you’ll never forget this lawyer’s web address…
Before my partners and I started our own firm, I worked for a small insurance defense firm. It was a statewide practice, as most insurance firms are. Often times I would have to drive hours to some small county in the state for a 20-minute hearing, then get back in the car and drive right back.
I clearly recall one day when I spent roughly eight hours round-trip in the car, to attend one of those hearings that only took a little over 30 minutes. In the litany of intricacies of practice that law school does not adequately prepare law students for, add long car drives to the list.
That being said, I don’t really mind it. I rather enjoy the time alone in the car. It’s nice to be disconnected from things and alone with your thoughts. I listened to podcasts. I watched the pine trees go past mile after mile. I sat in silence, only the hum of the road to accompany me. In the hustle of drafting documents, responding to emails, returning phone calls, and meeting with clients, a few hours alone can be a respite….
The results were encouraging. I met many supportive people who introduced me to others, provided useful advice and inside job information. I am beginning to think that the legal community is not as gloomy and cutthroat as I was led to believe.
After the jump, I will share how many interviews I received and the job offers I am currently considering.
Not surprisingly, most small business owners rarely take vacation. According to a 2013 Sage Reinvention of Business Study, 43 percent of small business owners take less vacation time than they did five years ago. And from what I’ve observed among my fellow solos, vacations are even fewer and farther between. In fact, it’s not uncommon to find many solo and small firm attorneys who haven’t taken more than an extended three-day weekend as vacation in five years or more.
Solos’ reluctance to take vacation isn’t surprising. Some feel that they may miss out on a major client if they’re away from the office more than a couple of days, while others are so overwhelmed with work that they feel that they can’t make the time. Of course, cost is a factor as well, and it’s a veritable triple whammy what with the cost of the trip itself, lost revenues with fewer billable hours and the cost of bringing in an assistant or backup lawyer to cover cases.
Still, there are also costs to skipping vacation for years on end. Solos who never take a break experience burnout, reduced productivity and loss of time with family. Moreover, without vacation (and somewhat counter-intuitively), solos miss out on an opportunity to improve their practices….
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: email@example.com.
We at Kinney Asia have made a number of FCPA / White Collar US associate placements in Hong Kong / China thus far in 2014. Most of such placements have been commercial litigation associates from major US markets, fluent in Mandarin, switching to FCPA / White Collar litigation. Some have already had FCPA experience, but those are difficult candidates for firms to find (this will change in coming years as US firms are now promoting FCPA / White Collar to their 2L summers who are fluent in Mandarin and have an interest in transferring to China at some point).
Legal Week quoted Kinney’s Head of Asia, Evan Jowers, extensively in the following relevant article here.
There is a new trend in the market, though, where mid-level transactional US associates, fluent in spoken Mandarin and written Chinese, are interviewing for and in some cases landing junior FCPA / White Collar spots in Hong Kong / China at very top tier US firms.
Ms. JD is hosting their 2nd annual cocktail benefit to raise money for the Global Education Fund. The event will be held on August 21, 2014 at 111 Minna in San Francisco. Our goal is to raise $20,000 to fund the legal educations of four dedicated law students in Uganda who count on our support to continue their studies at Makerere University during the 2014-15 academic year.
The Global Education Fund enable womens in developing countries to pursue legal educations who otherwise would not have access to further education. According to the World Bank, investment in education for girls has one of the highest rates of return to promote development. In Uganda, more than 45% of women over the age of 25 have no schooling at all, and men are more than twice as likely as women to have access to higher education. Together, we can work to end educational inequality. For more information about the program, please visit http://ms-jd.org/programs/global-education-fund/
When the LexisNexis Cloud Technology Survey results were reported earlier this year, it showed that attorneys were starting to peer less skeptically into the future, and slowly but surely leaning more toward all the benefits the law cloud has to offer.
Because let’s face it, plenty of attorneys are perhaps a bit too comfortable with their “system” of practice management, which may or may not include neon highlighters, sticky notes, dog-eared file folders, and a word processing program that was last updated when the term “raise the roof” was still de rigueur.