The Business of Legal: The Data-Driven Law Practice
By Mary Juetten
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About this ebook
Mary Juetten’s second book, The Business of Legal: The Data-Driven Law Practice, draws from her business, accounting, and consulting background to provide advice for lawyers looking to improve their firms. Again written in plain English, with simple case studies, Juetten creates a roadmap for attorneys and other legal technicians use data and process to drive change. In fact, any professional who works with clients can use the approach to create a data-driven successful practice.
The Business of Legal explains how lawyers can collect data; analyze processes; and implement change; all required to compete and succeed in today’s challenging market. This case study applies to firms of almost all sizes and in any country. From goal setting to identifying problems, the book follows a firm that is trying to improve their new client development process. Juetten explores the client-centric requirement of all services and professions today as an integral part of the successful law practice today.
The topics include not only data and profitability but also how to evaluate clients for an ideal financial fit and firm cash management. Accounting principles and the need for tracking time are explored to maximize the impact of that important data. A second case study reviews some of the unique challenges faced by solo who are just starting their firms. Compensation and how a firm should keep track or score of data and metrics are also included.
While the laws may differ, the core of business and management is universal. Juetten’s book is not just for tech-savvy lawyers. In fact, learn the concepts in this book before trying to solve your problems with technology.
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Book preview
The Business of Legal - Mary Juetten
Introduction
One of my favorite law school classes was Legal Drafting, which focused on using plain English and avoiding jargon. Like that class, this book is jargon-free. All trendy words have been excluded. I will simply explain how you and your team can improve the firm’s bottom line and ensure your clients are happy using data and information that you already have.
I recently cleaned out my closet for a move and parted with some really cool clothes from my pre-kid years. My daughter, who just graduated college, was thrilled to receive them, and she immediately decided they were vintage.
Like my clothes, many business management strategies are also vintage. They keep coming back, renamed with new buzz words. We will use these vintage, tried and true management techniques to help solve your firm’s problems, but we will skip the buzz words.
Who is This Book For?
Any lawyer, anywhere, but especially small-firm managers and owners. I have spoken and worked with attorneys around the world and while the laws may differ, the core of the business and management is universal.
In addition, this book is not just for tech-savvy lawyers. In fact, you should learn the concepts in this book before you try to solve your problems with technology.
How to Use This Book
I created two fictitious firms to illustrate the concepts in this book. The first firm, Ferndale Family Law LLP (FFL), has two partners and three associates, plus a paralegal and legal assistant. FFL has operated for about six years and faces many of the challenges that similar-sized firms deal with:
•
FFL needs more clients and a more efficient intake process;
•
Time management is a constant challenge for everyone at FFL;
•
Associates are not sure of the firm’s objectives or how to help the firm succeed;
•
Usually there is a cash crunch at the end of the month; and
•
Everyone at FFL feels the work is not getting done efficiently but doesn’t necessarily know why.
These problems are common to most small law firms, but solos often face different challenges, especially when they start a new firm. One of FFL’s associates will strike out on his own and serve as our second firm to study.
You can read this book from cover to cover or go straight to the chapters or appendices that reflect your current needs. You choose. Onwards!
Your Firm’s Raison d’être
Before we study each firm, let’s zoom out and consider the big picture of why your firm exists. Does your firm exist because law is your calling, it is a means to pay your bills, it is a way to solve clients’ problems, or for some other reason?
What problems are you and your firm trying to solve? What value does your firm create? Before you start trying to change things at your firm, take the time to establish the reason for your firm’s existence in the first place.
What is a lawyer?
First, let’s get existential and look briefly at how the trends shaping the future of law practice may impact your firm and the way you define your role as a lawyer. Webster’s dictionary defines a lawyer as a person who represents clients in a court of law or advises or acts for them in other legal matters. The Oxford Thesaurus provides the following alternatives to the word lawyer: counsel, advocate, legal practitioner, member of the bar, attorney, and counselor at law. And of course, solicitor and barrister are the common terms in the UK.
I asked a number of lawyers across the country how they define themselves in 2017. Their one-word definitions included: advocate, problem-solver, counsel, advisor, connector, translator, legal-inventor, and mitigator. Most avoided using the words legal and law other than to say that part of their role is to translate the law or legalese in order to solve their clients’ problems.
What do you wish to do?
We all attended law school and it was a grueling time. Like many before me, I read Scott Turow’s One L: The Turbulent True Story of a First Year at Harvard Law School before my first year at Sandra Day O’Connor College of Law (Arizona State University) in Tempe, Arizona. In Turow’s afterword, written a decade after graduation, he described the high anxiety and unhealthy competition during the forced march
of the remaining two years of law school.
One of the things that struck me was this comment: In spite of the prominence of law, lawyers themselves are far less regarded. Many lay people do not like lawyers. And to a surprising extent, lawyers often do not like themselves.
Couple that with the struggle that is faced by most professions; how to do well while doing good. It seems we are forced to choose between helping others and earning a good living.
Most importantly, for most, our legal education is not lawyer school
unless you had a meaningful clinic or internship. We attend law school to learn how to think like a lawyer.
But we do not learn how to handle a project or matter, let alone how to start and grow a law firm.
I have spoken to many lawyers who wish that they had taken a business or accounting class. However, much of what works well in business you either learned in grade school or as you started your adult life, not in university. This brings to mind the Golden Rule, which is my mantra both professionally and personally: Do to others what you want them to do to you.
In other words, have empathy for your team, clients, friends, and family and remember some fundamentals from your early years.
Below are some of my favorite instructions from Robert Fulghum’s book, All I Really Need to Know I Learned in Kindergarten. I have taken the liberty of adjusting them to the legal setting:
1.
Share everything. Obviously not confidential information but be open with your partners and team, and be receptive to suggestions and ideas.
2.
Play fair. Building upon the do unto others
idea, creating an open and honest work environment requires you to lead by example and be fair.
3.
Don’t hit people. Adjusted for your firm, this means do not surprise or blame people, particularly in group settings.
4.
Put things back where you found them. More than returning items, it’s important to make things right and ensure that you stay within your area of expertise.
5.
CLEAN