Business of law

Alternate Fee Agreements Meet Process Improvement

Following my post on Alternative Fee Agreements for law firms and their clients I had one of those days where I wished I had never heard of the phrase. I was sitting in the middle of a flat fee project. Had I priced by the billable hour, I would be rich and retired today. Instead, [...]

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Alternative Fee Agreements: The truth beyond the lore.

Thinking about the best way to structure that Alternative Fee Agreement your client is requesting? Well, it may take some time up front and some serious understanding of the benefits for both client and law firm to strike the right balance. And, as in most things alternative, AFAs are situational, but when done properly can [...]

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Stay Tuned…Marketing Partners Forum (#MPF)

Just a quick note before I leave Miami this morning and take the long trip north to Palm Beach Florida for the Marketing Partner’s Forum. I’ll be covering the event here on the VMO and on Twitter #MPF. I hope you’ll subscribe to VMO via email, grab the feed, or follow #MPF on Twitter—@melaniegreen (Baker [...]

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Beyond social networking: The business of law

The social Web has revolutionized the way consumers are learning about their health related issues and choosing professionals. There is a strong correlation for law firms. It’s all about the GLUE. As Heather Milligan writes on the legal watercooler; the web enables Clients to get to know you before they ever meet you. The way [...]

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FACEBOOK: FOR BUSINESS

Instead of just cutting off workplace access to Facebook —the poster child for questionable business networking activity— I suggest you take a step back and get a better plan. Why? Let’s say you’re a lawyer, an accountant, or a sales person and someone in your organization decides that you are no longer allowed to be [...]

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Fast Facts. Rising Tide. Social Media.

Great storytelling from Erik Qualman. [youtube=http://www.youtube.com/watch?v=sIFYPQjYhv8] I haven’t read it yet, but he has a new book “Socialnomics” How social media transforms the way we live and do business Happy Friday.

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Should the managing partner of a law firm publish a blog?

How realistic is it for a law firm managing partner to publish a blog? Maybe a better question to ask is “How would a managing partner’s blog better serve the law firm’s clients, or not?” Too dangerous? Too time consuming? What for? I recently sent out a Tweet and queried my networks seeking examples of [...]

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Strategic Marketing in Five Easy Leaps.

You don’t have to be in the AM LAW 50 to market your law firm strategically, but you can’t get there if you’re stuck in a level one, two or three marketing mindset. For many firms this means change and what better time to change than now.  If you’re already operating in Level Five, you’re [...]

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What is the price for a loyal client?

I think many businesses [and law firms] are shooting themselves in the foot when they cut corners on the wrong stuff. For example: Discount stores like Marshalls, TJX and Ross are perfectly positioned for a recession when discretionary dollars are tight. The other evening the mid-town Miami Marshalls was teeming with shoppers sorting through tons [...]

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To Block or Not to Block the Social Web at Work.

Does blocking access to social networking sites at the office really work? Are social networking sites the only places of risk for companies and law firms on the new social Web?

Do you know that if your partners and employees can access blogs and other sites that allow commenting, reviewing, or streaming content (e.g. news videos or podcasts), via the firm Internet connection, you are, by default, giving them permission to participate in the social web.

Law firms need viable responses to the new way in which people are using the web. Shutting off access to social networking sites isn’t the last decision you’ll make.

So what should law firm leaders do? Here are a few suggestions that I recommend.

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