Solo practitioners and small law firms can thrive in the new legal marketplace by leveraging technology like virtual law offices, document automation, and online legal services to work more efficiently and cost effectively. This allows them to meet client expectations, work faster and cheaper, and deliver services in ways clients prefer and can afford. Key tools and strategies include web-based technology, project management systems, alternative fee arrangements, and streamlining processes through automation and outsourcing.
Lawyers as Entrepreneurs: Thriving in a Sea of Change ppp
Solos and small firms, thrive in the new legal marketplace
1. SOLOS AND
SMALL FIRMS
THRIVE IN THE NEW LEGAL MARKETPLACE
2. • Meet and exceed client
YOUR expectations
GOALS • Work faster and
cheaper
• Deliver services the way
clients want to access
them, at a cost they
know and can afford
• Maintain superior
competence
3. • Delivering more legal
services at less cost
YOUR • Moving original work to
CHALLENGES standardized and
systematized work
• Expand types of legal
services to rival new
market competitors
(legal services industry)
• Staying current with IT
development
4. 1. Web 2.0 Technology
• Virtual Law Office
• Document Automation and
Unbundling legal services
YOUR • Productivity Tools
TOOLS 2. Project
Management
System
• Contains costs
• Streamlines your work processes
• Creates efficiency
3. Alternative Fee
Arrangements
• Price your services fairly and
accurately
5. BENEFITS OF VIRTUAL LAW OFFICE
TECHNOLOGY
• No in-house software installation needed
• Streamlines and automates the workflow, creates efficiency &
allows the attorney to focus on practicing law
• Lowers overhead, cost-effective, no upgrades or IT assistance,
• Creates less office waste, eco-friendly
• Enables access to data anywhere attorney can securely
access the internet
• Prevents Malpractice through automated checks and
processes
• Expanded client base, competitive advantage
• Better quality of life through work/life balance and flexibility
• Be prepared for your future clients: the “Digital Natives”
6. VIRTUAL LAW OFFICE DEFINITION
AND FUNCTIONALITY
Definition Functionality
• A virtual law office is a • Office, case & client
professional law practice management used as
located online through a productivity tool
secure portal that is • Clients have access to their
accessible to both the client “case file” 24/7 in a secure
and attorney anywhere the online space
parties can access the • Document archiving, contact
internet. management, calendaring,
• Other terminology: conflict & jurisdictional
VLO, virtual lawyering, virtual checks, billing & invoicing,
law firm, web-based or web- online payment
enabled law practice, online • Collaboration spaces such as
law practice, delivering legal deal rooms or workspaces
services online
7. • Automating document
assembly for clients
online
• Uses intuitive legal forms
DOCUMENT in combination with
AUTOMATION questionnaires
• Purchased directly by
client after attorney
review
• Can also be purchased
in conjunction with
additional legal advice
8. • Break out tasks
associated with a legal
matter and provide the
UNBUNDLING client with only specific
LEGAL portions of the work
SERVICES
SERVICES • Clearly define for online
client the nature and
scope of unbundled
legal services – what will
and will NOT be
covered
• Provide comparisons
and education for the
client to make an
informed judgment
9. WEB 2.0 PRODUCTIVITY TOOLS
• Virtual Law Practice/Case Management products
• Collaboration: workspaces and deal rooms
• Messaging and document sharing
• Document Management
• Free online legal research
• Online and mobile communication and research
tools
• Mindmapping
• Time management
10. • Install a project
management system
STREAMLINE • Automate repetitive
FOR processes
EFFICIENCY
• Source tasks to
maximize efficiency
• Use technology
wherever possible
• Outsource when
appropriate
11. LEGAL PROJECT MANAGEMENT
• Rational, cost-effective approach for
planning, controlling and executing a legal matter
• Break project into steps
• Assign, calendar and monitor to avoid work
reproduction, oversights or mistakes
• Creates accountability & transparency for client
• Track the process to create a blueprint for future
similar projects
• Outdistance disorderly, inefficient competitors
• Changes incentives away from billable hours and
toward profitable projects and satisfied clients
12. STEPS TO CREATE AN LPM SYSTEM
• Devise an easy system of communication among you, the
team and the client
• Specify the scope and objectives of the project with your
clients – determine their desired outcomes or acceptable
alternatives
• List the specific actions that will be required or that may arise
• Create a timeline and schedule to track due dates and
strategic actions.
• Determine how long it will take to complete each part of the
project
• Decide who will be a part of the team, and assign them
specific tasks within the project
• Plan meetings, follow-up or other methods to monitor each
player’s progress
13. PRICING YOUR SERVICES
Benefits to Client Benefits to Lawyer
• Client knows costs of • Greater incentive to
legal matter learn more quickly
• No pressure to bill hours
• Focus on providing
• Increased client contact
value
• Learn how to deal with
• Understanding of client’s problems more
client’s business quickly
• Focus on efficient • Internalize the need to
act efficiently and map
solutions out a matter’s process
14. • More client
ATTORNEY/ interaction
CLIENT
RELATIONSHIP • Client involvement
in strategic thinking
• Increased feeling of
partnership
• Greater trust
15. • Up-front and in-depth
client consultation
• Internal analysis of
PRICING past experiences
PROCESS • Internal profitability
analysis
• Fee proposal to client
• Further discussion
about client goals
• Fee Agreement
executed
16. FACTS CONSIDERED IN
PRICING PROCESS
• Jurisdiction
• Size of matter
• Client’s goals
• Projected length of case
• Reputation of opposing counsel
• Likelihood of settlement
17. • Refined scope of
FIXED FEES
FOR work
LITIGATION • Lean project
management
• Using change orders
• Comfort with risk
18. MEETING YOUR GOALS
• Meet and exceed • Deliver services online
client expectations • Use document assembly
• Work faster and technology
cheaper • Unbundle your services
• Deliver services the • Use project
way clients want to management principals
access them, at a cost • Use productivity tools
they know and can
• Create transparency
afford
• Offer alternative pricing
• Maintain superior
competence