My friend Pablo told me that when Monica, a partner, called his home at 9:00 p.m., he knew it couldn’t be good. Why not email? For an instant, he considered letting the call go to voicemail. Taking a deep breath, he answered.
Monica wanted to know “where he was” with the brief Pablo had been working on. She had not given him any particular deadline, so he explained that he expected to circulate the draft for review the following evening. The brief was a motion to dismiss, and he knew the deadline to file was still two weeks away. He was allowing the partner one week to review before she had to send to the client, who in turn would have another week to review.
The partner, however, had a different idea. “I want it on my desk tomorrow by 8 a.m.,” she told Pablo.” “Not a moment later.”
Last week, I focused on the stupidity of competing on price as opposed to competing on quality and service. And I understand, young lawyers believe all they have is the ability to compete on price. More experienced lawyers believe they have to compete on price because today’s clients don’t care about anything but price.
You can convince yourself of anything. As for price, convince yourself of this — continue to compete on price and you’ll spend your career becoming the cheapest lawyer in town.
Now let’s talk about using the competition as a resource….
Before I provide some advice on client relations that will be deemed “totally wrong” by some and “good advice” by me pretending to be anonymous, I wanted you all to know that I bought a wireless printer that allows me to send documents from my phone, wherever I am, to my printer at my office. Although I currently have no use for this feature in my law practice, and haven’t in 17 years, I hope this puts me in better stead with those of you that think I hate tech.
Now let’s talk about clients, for those of you that have some.
The core of running a practice is machines and toys clients. That you are able to do competent work for clients doesn’t matter if you are not versed in the retaining and retention of them. The retention of any client starts at the initial contact, not when they come to your coffee shop office with a check. For those of you who have practices where you never meet with clients, your initial contact with them (unless it’s them using your website as an ATM to buy documents) is even more important.
While you may be in a position where the client is only calling you, most clients are calling several lawyers. Regardless, you are now auditioning for the job. That audition begins at the very moment you first speak to the client, or the person calling for the client….
Last year, one of my columns explained how I went about developing a new practice at a large law firm. Now that ABA Publishing has repackaged some of my old columns as a book, I’m hearing new reactions to some of those older columns. One of my recent correspondents — a partner at an AmLaw 100 firm — raised a good issue about my column on business development. He gave me permission to crib from (and slightly revise) his long e-mail (without attribution to him), so that’s what I’m doing here:
“In your case study of business development, you ask whether the business development game is worth the candle. But you seem to presuppose that the game is really worth playing in the first place. My problem isn’t with the premise that if you want to develop business you must work hard at it and be lucky. My problem is with the assumption that the only goal worth achieving in law is success in business development. I think you are correct in saying that law firms under-appreciate business development efforts and over-appreciate business development successes. But I think they over-appreciate both compared to good lawyering . . .
For attorneys starting their own firms, one of the more difficult things to learn is how much time to spend on a prospective client. Attorneys take various approaches. Some attorneys say, reasonably enough, I don’t work for free, and will do little more than quote their rates. Attorneys who employ mass marketing will offer a “free consultation,” but that generally amounts to little more than a way to encourage unsophisticated clients to call them as opposed to someone else.
If your business model depends on high volume of a particular type of case, it probably doesn’t make sense to devote too much effort to soliciting any one particular client. But if you are pursuing fewer, higher-stakes or more complex matters, then you very well could struggle with how to strike the proper balance….
In the late 90’s, lawyers taking credit cards was not the norm.
Stores took credit cards. Restaurants took credit cards. Lawyers took checks and wire transfers, and yes, cash in rubber bands. It was typical lawyer arrogance and ego – taking credit cards turned the lawyer in to a merchant, and paying a portion of the fee (because if you check your state ethics rules and opinions you may find you cannot charge the client for the percentage you pay the credit card company… oops) for the convenience of the client being able to “charge it” was seen as unattractive.
I didn’t take credit cards at first, a couple years later I started, and now I take them under certain conditions. One, I don’t advertise that I take credit cards. No signs on my door, no indication on invoices. If the client asks, the answer is yes, but like many places, there is a minimum amount (and no, it’s not $20). For volume-type lawyers who charge small fees, credit cards are a great way to sign up clients and maintain a good cash flow. For those with bigger fees and smaller practices, it’s a last resort for that client that you believe may have an issue paying, or who just can’t come up with the retainer unless it’s charged on a credit card.
Visa and Mastercard rates are lower than AMEX, but in the end, you’re looking at getting about 96% of the fee once the percentage and transaction fees are paid. If you can’t survive on that, I can’t help you.
If you’re trying to build a word-of-mouth-based referral practice (is anyone doing that anymore?), you may be frustrated with two things about some of your referral sources: they don’t appear to know what it is you do, and they don’t make a real effort to get you the case/client.
We’ve all been there. The call comes in, the client was referred by a familiar name, and he wants to hire you to do something you don’t do or don’t want to do. Maybe you’re a divorce lawyer but don’t want to handle child custody modifications, or you’re a commercial litigator who has said many times that you don’t do collections work.
If you’re getting the wrong referrals, it’s your fault…
It’s not part of a legal strategy or way to churn the file; it’s an attorney-initiated discussion about the client smack in the middle of the case.
What usually happens is that the attorney is retained, legal work begins, the client is updated as to the status of the case/matter, asked to weigh in occasionally on strategy, and reminded about the pending bill. We see this as part of the job, but how do the clients perceive the representation?
At some point in the representation, the best chance you have to hear what the client is really thinking is when they are not happy. You’ll get that anxious phone call, that question that is really a criticism, and it is during those times that you focus on trying to make the client happy.
What if you were proactive?
What if you scheduled a non-billable meeting with the client, outside your office, for the sole purpose of allowing the client to voice their overall concerns after you’ve been representing them for a while?
On Sunday, Sidley Austin announced a regime change at the firm. Over the next year, veteran Supreme Court litigator Carter Phillips will become co-chair and eventually chair of the firm’s executive committee. In 2013 he will replace the current chair, Thomas Cole.
Currently, Phillips is managing partner of Sidley’s Washington D.C. office. He recently argued his 76th case in front of the Supreme Court. I had the opportunity to ask him about the Obamacare arguments last month.
Keep reading to learn more about the transition and to find out what it takes for an accomplished practicing attorney to take on a crucial business role…
For every matter that we handle, we need one “unifying mind.” We need one person at the helm; that person must either personally know everything that’s happening in the matter or, at a minimum, know where the knowledge lies. (Extraordinary cases may be beyond the capacity of a single unifying mind and may require two or more. But those situations are exceptional, and they pose challenges beyond what I’m thinking about today.)
The unifying mind might be found anywhere in the hierarchy, depending on the type of matter involved. At a law firm, the unifying mind can be a partner, if the matter is large and the partner a hands-on type. Or the unifying mind can be an associate charged with monitoring and tracking all events. But everyone on the team should know who’s at the helm, so everyone knows the person who should receive copies of correspondence, alerts about upcoming events, and reports about how things are going.
At an in-house law department, we, too, must have a unifying mind for every matter. In the litigation world, a corporation may have several line lawyers whose job is to supervise cases on a day-to-day basis. The line lawyer primarily responsible for overseeing a particular case should typically serve as the unifying mind for that matter. Outside counsel should communicate with that person, and everyone in-house should know that’s the lawyer to call if they need detailed information about a lawsuit.
That’s all fine in theory, but two things often screw this up in practice. What two things?
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.
Things have changed recently in Korea – a few of our US and UK client firms are looking, very selectively, for a lateral US associate hire. Until just recently, there was not much hiring like this going on in Korea, since US and UK firms started opening offices there. We have already placed two US associates in Korea in the past month at top firms. Most of the hiring partners we work with in Korea do not actively work with other recruiters.
If you are a Korean fluent US associate in London, New York or another major US market, 2nd to 6th year, at a top 20 firm, with cap markets or M&A focus (or mix), or project finance background, and you are interested in lateraling to Korea to a top US or UK firm, please feel free to reach out to us at firstname.lastname@example.org or email@example.com. Our head of Asia, Evan Jowers, was just in Korea recently, and Evan and Robert Kinney will be in Korea in a few weeks. We are in the process of helping several firms open new offices in Korea (a number of which are interviewing our partner level candidates) and also helping existing offices there fill openings.
Professor Joel P. Trachtman has developed a unique, practical guide to help lawyers analyze, argue, and write effectively.
The Tools of Argument: How the Best Lawyers Think, Argue, and Win is a highly readable 200-page book, available for about $10 in paperback or e-book. Chapters focus on foundational principles in legal argument: procedure, interpretation of contracts and statutes, use of evidence, and more. The material covered is taught only implicitly in law school. Yet, when up-and-coming attorneys master these straightforward tools, they will think and argue like the best lawyers.
For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!