LBC wise counsel

"Business Planning for Law Firms" Book Review:

“Thanks so much for sharing Business Planning for Law Firms with me. I’ve been absorbing it in sections – learned a lot, started thinking about some things in different ways, and really appreciate the opportunity to expand my perspectives.

You captured my attention immediately with the case study from Simmons & Simmons. I’m intrigued by the new MBA program offered by BPP Business School. The focus on understanding business and strategic leadership is really interesting to me… and, I believe, absolutely necessary for lawyers who are trying to be successful advisors to in-house teams OR businesses… I would love to learn more about the courses that are included in the program. I think this would be fascinating to pursue with John Park or someone else at Penn State… What a great opportunity to offer something unique for the legal community on this side of the pond…. (and, of course, I’m thinking of developing this with you in a teaching position for some portion of it!)

It is encouraging to read that commitment to pro bono service seems to be holding during the economic times. Rebecca’s piece was particularly encouraging. I tend to agree with the findings (from what I see here, directly, and what I’ve been reading in ABA articles). I also had a very interesting meeting with faculty at Penn State’s Dickinson School of Law (the 2 who oversee the law school’s pro bono clinics). There is a strong commitment, at least on Dickinson’s part, to ingrain the importance of doing pro bono service as soon as the students matriculate and get some classes under their belts. We were exploring some ways that the law school, the LBA and MidPenn’s Lancaster office could work together to engage some law students in supplementing the pro bono work done by our local lawyers. The need is so great (and growing)… my observation that engaging the students EARLY establishes the “culture” that this is a normal expectation of members of the legal community … and I also added that it provides a beginning “networking” experience for the students. The folks from Dickinson were ecstatic (or so it seemed) that SOMEONE else recognized the need for that!

Your discussion of size/focus of law firms also rang true for US firms (in my humble, non-lawyer opinion)….

One trend I’ve been noting for quite a while now, and particularly in the last 2 years, is the merger of solo practitioners into small/mid-sized firms here. But more than that, I’m noting that the “full-service” lawyer (the “I can do it all” guy) is really disappearing rapidly. Firms are focusing on fewer specific areas, and lawyers within the firms are becoming “specialists” in one or two particular areas of law. I find it hard to put that in writing because I had been programmed NEVER to say “specialize” since there is not really any accrediting body to bestow the title (as there is for the medical profession here … or to license teachers, etc.)

As you began your discussion of adding value for successful client engagement, I couldn’t help but think about the fact that lawyers are NOT trained in business principles and are, often, the least qualified to lead businesses. Learning how to structure their own firms will be a difficult transition. The references to the (hopefully) disappearing billable hour brought to mind something I learned recently about some firms in Lancaster – I knew that billable hours were disappearing with some business relationships, but I recently learned that several of our attorneys who handle criminal matters have also abandoned the billable hour as the basis for fees. This is, indeed, encouraging. I am more convinced than ever that if lawyers better understood basic business principles the billable hour would disappear more rapidly. Your discussion of the reasons to move away from the billable hour is clear and compelling.

Getting into the meat of how to move forward as we emerge from the recession provided LOTS of food for thought. Again, you present a compelling argument in your discussion of alignment with profitable activity and clients. My fear, however, (at least on this side of the pond) is that the reaction will be simply more abominable yellow pages (telephone directory) advertising and scummy tv advertising. This is my skepticism showing through. Once again, citing the fact that lawyers aren’t businessmen and are change-resistant – they will take the path of least resistance and simply do more of what has come before… I commend the fact that you advocate effectively that lawyers need to learn to change!

Your chapter on the law firm model after deregulation is excellent – your analogy of the volcano blowing its top is wonderfully graphic! It’s exciting to me to see that MAYBE some folks over here are starting to recognize the impact the changes on your side of the pond will have here… I’ll try to keep you up to date on anything the ABA might be doing… I do think that the licensing restrictions over here may well counter the ability that in-house teams over here have to limit the size of panels they engage. We still have to deal with the cumbersome reality that lawyers must be licensed in each state individually…

As I got into the chapter the business strategy, I noted how applicable your coaching is for bar associations as well as law firms…

“The key to current and future success will be the systematic, thoughtful and planned development of relationships to deliver sustainable and profitable business opportunities.” In terms of the LBA, I think of the effort moving forward to engage our in-house folks (gotta keep those dues-paying members!), talks I’m having with local banks to improve our sponsorship opportunities while giving them a well-endowed depositor and access to lots of potential customers, and continuing to seek ways to collaborate with law schools in any number of ways that benefit them (in terms of opportunities for their students) and our members (interns to ease some work load and/or interesting programming). You again make a good case for the art of networking… and your analogy of the multi-sided box is another particularly strong one! Your section on the new business pitch also resonated in terms of a parallel with bar associations – we don’t think of it as seeking a new piece of business/client, but those of us in the bar association business are always looking for new corporate sponsors. I can assure you that I’ve gained a clearer insight into how to go about this aspect of my job.

This body of work is very impressive – there is so much good advice presented clearly, logically and easily understood. I hope LOTS of law firms embrace this and act upon it. The legal profession is so well-served by your thoughts and coaching.

— Evelyn Sullivan, Lancaster Bar Association, Pennsylvania

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