In speaking about outsourcing, Kevin commented that he feels like he’s overstating the point on a lot of these things, because he’s been involved in this arena for so long. He added that evaluating a company to handle outsourcing is like evaluating any business partner – think about the challenges of hiring a third party that you’ve never worked with before, to work on something that might end up in your clients’ hands.
Zen & the Art of Legal Networking
Yesterday, we began our recap of the Contract Lawyers & Outsourcing webinar with Tim Corcoran and Kevin Colangelo. Today, we continue the discussion.
Who is Doing this Successfully, and How?
Tim said that one of the challenges he’s heard from law firms about outsourcing is that their work is unique, their firm is unique, and as such, their work is hard to routinize and find a common way to deliver the services. So he asked Kevin to comment on how others who have done this have found that there are practices that can be improved through this approach – and not just the low-end, simple document reviews, but some high end work as well.
Last week, we had the final session in our Business of Law Series, on the topic of contract lawyers and outsourcing. This time, Tim Corcoran brought in a co-presenter, Kevin Colangelo of Yuson & Irvine.
Tim began with a few minutes to recap some of the topics we’d discussed in the first two webinars, so that the audience could understand the main drivers behind these changes. For those full recaps, please take a look at Legal Project Management Part I and Part II and Alternative Fee Arrangements Part I and Part II.
And we’re back with roundups! We’ve had a lot of content this week on ILNToday, so let’s take a look at what has been the most popular!
- Prescription Drug Laws Create Challenges for Telehealth from Epstein Becker & Green: EBG’s Ross Friedberg discusses how prescription drug laws continue to be a significant obstacle in the growth and adoption of telehealth services.
- Employer Posting Requirements Under New Jersey Law from Epstein Becker & Green: EBG’s Maxine Neuhauser and Amy Hatcher dive into the ever-growing list of posting requirements for employers in the state of New Jersey.
- Challengers of NLRB Recess Appointments May Lack Standing from Epstein Becker & Green: EBG’s Mark Trapp talks about the cases challenging President Obama’s recess appointments to the NLRB.
- Insurance Contracts Amendment Bill dusted off for early Christmas present from Gadens Lawyers: Ray Giblett of Gadens delves into the four changes to the Insurance Contracts Amendment Bill 2010, which along with the original, constitute the Insurance Contracts Amendment Bill 2012.
- News You Can Use: Gifting & Estate Planning at Edge of Fiscal Cliff from Lommen Abdo: Lommen Abdo’s latest newsletter offers some substantive content in their articles about how transferring assets might be affected by the impending fiscal cliff and making sense of the Supreme Court’s ruling on the Affordable Care Act.
Happy Thursday all, and welcome to another one of Jaimie Field’s excellent rainmaking recommendations – keep these in mind as you start to make your plans for 2013!
In Rainmaking Recommendation #67 – Conduct your Own Attorney Review, we discussed Performing your own Attorney Review by determining:
- what you did this year that worked to bring in new clients;
- what didn’t work ; or most importantly,
- If you did ANY of the work necessary to build your book of business.
Yesterday, we began with the first part of Tim Corcoran’s webinar on the strategic role of alternative fee arrangements. After Tim’s elephant analogy, he gave the attendees a short economics lesson. Using a graph with two parallel arrows, Tim said that essentially, we charge a rate that is higher than our cost to deliver. Price needs to be higher than the cost, and profit is derived from the difference between the cost and the price.
But law firms do a poor job of calculating costs – other than their overhead and real estate, they don’t know the cost of the delivery of their legal services.
Part II of our Business of Law webinar series with Tim Corcoran took place in November, but things have been so hectic with travel and hurricanes and holidays that I’m only just getting to the recap! So without further ado…
The topic of the second webinar was the strategic role of alternative fee arrangements, which was a natural sequel to the first session on legal project management. Tim re-emphasized that the industry has changed, and we need to adapt to the changing times.
As we in the US celebrate Thanksgiving tomorrow, there is much to be grateful for. Our thoughts and prayers are with those affected by Hurricane Sandy, who will be unable to celebrate their traditional Thanksgiving, and the family of a high school classmate of mine, whose young daughter is battling leukemia.
With that, here is Jaimie Field’s latest rainmaking recommendation…
Welcome to ILN-terviews, a series of profiles of ILN member firm attorneys, designed to give a unique insight into the lawyers who make up our Network. For our latest interview, we chose ILN member, Frank Cialone of our member firm, Shartsis Friese LLP in San Francisco!
In one sentence, how would you describe your practice?
I represent businesses and business owners in matters involving the company control, management, and restructuring (or “business divorce”). I also represent lawyers in disputes with clients and other proceedings, and fiduciaries and beneficiaries in trust and estate disputes.
I may still be out of the office on vacation, but here’s a great recommendation from expert Jaimie Field!
Want to hear a scary fact? There are only 54 days left to this year.
We are coming down to the end of 2012. What did you do this year to grow your book of business?
You need to conduct your own review of your activities.