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Moneyball for Lawyers: Hollywood Lessons for Practicing Law

Moneyball for Lawyers

What does a hit movie starring Brad Pitt have to do with how you run your law practice? Plenty. Because just like Oakland A’s General Manager Billy Beane used data analysis to revolutionize the way baseball is played, you can take the same approach to learn how your firm operates –and grow it to its highest possible potential. Data Doesn’t ... Read More »

3 Studies Suggest Law Firm BD Heating Up With Competition

Trending Law Firm BD Heats Up With Competition

Business development is heating up in law firm circles. Market research firm BTI Consulting, known for its benchmark survey research, has called the climate a “Predator’s Paradise.”    More recently, the research firm spied opportunity by noting corporate counsel is shifting some work back to law firms – but only for “bet- the-company” litigation business.   Some of our own ... Read More »

Infographic:  Litigation Market to Thaw in 2016

Infographic Litigation Market to Thaw in 2016 says BTI Consulting-header

Market research firm BTI Consulting forecasts a “thaw” in litigation spending in 2016 and anticipates overall spending to increase for the first time next year since 2011. The firm recently published an infographic which coincides with the BTI Litigation Outlook 2016 report.  It also summarizes key findings in a snapshot with a post titled 6 Trends Shaping Litigation in 2016. ... Read More »

Can you Answer these 10 Basic eDiscovery Questions?

10 Basic eDiscovery Questions

Note: The following is a guest post from Daryn Teague, who provides support to the litigation software product line within the LexisNexis software division. If you work in the litigation field, you’ve probably read articles, attended conference sessions, perused blogs and maybe even waded through entire books dedicated to educating you about the world of eDiscovery. Are you curious to see how much ... Read More »

New Study:  Emerging Story of Law Firm Business Development

New Study Law Firms Emphasize BD Ways and Means Vary

Competition among law firms is fierce. It’s so fierce that in a newly published survey of 400 law firm marketing and business development (BD) professionals, 52% said competition is the #1 barrier to law firm growth.  Law firms large and small were well represented in the survey: 1-50 attorneys:  18% 51-200 attorneys: 30% 201-500 attorneys: 24% 501+ attorneys: 28% As ... Read More »

Unpacking the ABA Tech Survey on Law Firm Security

Unpacking the ABA Tech Survey on Law Firm Security

Recently news broke of the latest findings stemming from the newly released 2015 ABA Technology Survey.  By our count, the complete report, which LexisNexis supported through sponsorship, runs more than 900 pages with an executive summary that alone counts 242 numbered pages. Data providing insight as to the state of law firm security were among the first results widely reported ... Read More »

Legal Tech Evolution: Discomfort and Lasting Relationships

Legal Tech Evolution Discomfort and Lasting Relationships

If law firms aren’t evolving at a suitable pace, then perhaps corporate counsel should engage in introspective thinking.  That’s according to D. Casey Flaherty, a former in-house counsel, turned consultant, who made a mark on the industry with the creation of the Legal Technology Audit. His commentary is timely given much of the conversation at the recent ILTA conference (ILTACON) ... Read More »

Infographic: How Clients Find Law Firms

How Clients Find Law Firms

A young girl asked her father about that plastic-wrapped rectangular package.  It had been sitting in the corner of the family’s driveway for several days. As they walked out together to finally pick it up, the father explains the concept of those yellow colored pages in a phone book. Its information, presented alphabetically by topic, so people can find services ... Read More »

Slow and Steady “Sales” Slips into the Law Firm Lexicon

Slow and Steady “Sales” Slips into the Law Firm Lexicon-head

Law firms are warming up to the idea of the bona fide sales professional, according to a new survey of 53 law firms conducted by the Legal Marketing Association (LMA) conducted in conjunction with ALM. In a Strategies Magazine article published online, authors Greg Fleischmann, Kevin Iredell and Kevin McMurdo say the survey supports “the emergence of sales as a ... Read More »

The Five Gears Driving Law Firm Profitability

The Five Gears Driving Law Firm Profitability

Cost-cutting can improve margins in the short-term, but profit is just one gear among several affecting law firm profitability, according to a white paper titled Driving Profitability Forward. Gears are a sound analogy for framing the business of law, because while a gear moves independently, as part of a system, gears are interdependent. When one gear falls out of sync… ... Read More »