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Can Rainmaking Be Taught in Law Firms?

Can Rainmaking Be Taught in Law Firms

Can rainmaking be taught? There are credible arguments on both sides. “Learning to sell is a skill,” wrote Gaston Kroub in the first of a series on Above the Law. “One that can be learned, and one that must always be nurtured.” Mr. Kroub also says those skills can grow “stale” as the business dynamics change. In addition, selling skills ... Read More »

Infographic Friday: Challenges of Law Firm Billing

Infographic Friday Challenges of Law Firm Billing-header

Invoicing and billing present steep challenges for law firms.  According to a recent law firm billing survey we conducted: 73% of law firms report experiencing past due accounts 58% say they spend too much time on billing Roughly half of small law firms say about 4 in 10 accounts are past due 82% report client financial hardship as the root ... Read More »

Should You Upgrade your Law Firm Practice Software?

Should You Upgrade your Law Firm Practice Software-web

Note:  The following is a guest post by Steven Best of Affinity Consulting. Here it comes again.  Your software vendor is releasing a new software update.  Should you upgrade?  How many times are we supposed to put up with this? As annoying as you may find it, and as irked as you may be at the price of the upgrade, ... Read More »

Does Software Solve a Problem Well for a Law Firm?

Does Software Solve a Problem Well for a Law Firm

Which approach is better for a law firm: cloud or premise software? It’s a question that inherently calls for a comparison style checklist of features and functions – and may overlook a better question:  Does the software solve a problem well for a law firm? Some of the debates – including those in which we’ve participated – forget well-established benefits ... Read More »

Scribd Friday:  Do Law Firms Sell Legal Processing?

Scribd Friday Do Law Firms Sell Legal Processing

In a strategy session a couple weeks ago, a colleague recalled how he spent a summer during law school highlighting every termination clause in contracts.  It was redundant and repetitive work, that didn’t require a law degree.  Today such work is being automated with technology. That begins to get at what Ryan McClead means when he says lawyers sell “legal ... Read More »

Insurance Best Practice: How to Implement AFAs in Phases

Insurance Best Practice How to Implement AFAs in Phases

According to data from the latest Enterprise Legal Management Trends Report, the insurance industry experiences the lowest volatility in legal fees.  The report notes “volatility is a calculated indicator of blended rate variability.  Higher numbers suggest a better opportunity to negotiate rates and or the assigned time keeper mix.” On this graph, the vertical markets of “Regulatory & Compliance” and ... Read More »

Top 10 #BusinessofLaw Posts You Might Have Missed in September

Most Read Blog Posts for September 2014

We’re a bit slow on the draw in posting a “most read” post for September, but rest assured, it’s not out of idleness!   The fall is typically a busy season for product announcements, including new software releases for the LexisNexis® PCLaw® and Firm Manager® products, for example: LexisNexis Releases PCLaw 14 Featuring Batch Email Billing LexisNexis Firm Manager Provides Small ... Read More »

Infographic Friday: Law Firm M&A Billings Nearly Double

Infographic Friday MA Billings Nearly Double

M&A is back in the headlines among the legal trades. “In-house counsel and investment bankers agree that the merger and acquisition stars are aligning to create an environment more conducive for deals, according to one M&A expert,” according to ALM’s Corporate Counsel in an article titled Big Deals Put 2014 M&As at $2.5 Trillion and Rising. The Corporate Counsel article ... Read More »

A Wall Once Filled with Legal Periodicals

time matters legal

Does the legal profession have anything in common with the medical profession? More than you might think, according to Robert T. Farrell, an attorney who owns his own general practice law firm in upstate New York. Mr. Farrell, who earlier in his career, worked as an emergency services paramedic, says access to vital information and data is important for first ... Read More »

Trending Legal Spending: Examining the HBR Consulting Study

CounselLink Corporate Counsel Analytics

Around the world corporate legal spending grew by 2% in 2013, according to a new survey by HBR Consulting.  How that money is being spent makes all the difference – inside legal spending grew 5% while spending on outside counsel dropped by 2%. A narrower look at corporate legal spending within the U.S. produced similar results.  The survey found that ... Read More »