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The speed and shape of the American economic recovery is a matter of great debate. What is not up for speculation is the dramatic effect the downturn had on all businesses, including the legal industry. Workers and managers alike are struggling to figure out what will be expected from them in the coming business quarters, and how to deliver on these expectations. Here are three highlights for legal professionals, which just may make the difference between being in the black or in the red.
Everyone Is in Sales
When times are good, organizations tend to forget this axiom because the gravy flows freely. But this paradigm is the backbone of any profitable endeavor no matter the economic or political temperature. I have worked with many attorneys who dread the responsibility of making rain for their firms. They went to school and got their JDs in order to practice law, not to be a poster child for Dale Carnegie. It's bad enough that they have to spend excruciating time each day filling in their billable hours (for those that actually do it each day). But the fact is, everyone had a choice in their career regarding compensation. If you want to be compensated at the higher end, you can hang out a shingle or go with a large firm ' when they start hiring again. If you don't care about compensation, you can work for the Federal Government or get an in-house counsel position ' when they start hiring again. If you want to be compensated on the higher end, developing business is going to be a mandatory requirement. The good news is that it's not all that hard. The trick is to get everyone in the organization to realize that they are ALL in sales, from the receptionist to the paralegals to the facility manager. Every person is a reflection of your organization and they must always be looking for business opportunities.
Self-sabotage Is a Luxury You Don't Have
There are a number of behaviors in which professionals indulge that will be less tolerated as financial pressures mount. Certain activities in your day result in nothing of value and there is nothing you can do about it ' like potential client meetings. These are built into the price of business. But other activities that simply result in wasted time, and are entirely self-generated, must be eliminated. For example, the act of interruption results in millions of dollars of lost revenue every year. The reason is because it prevents pure focus and concentration that is required to generate billable product. There are times when interrupting colleagues and co-workers is important, but it's generally 20% of the time it's actually required. One of our jobs as seasoned professionals is to create an environment (i.e., rules and routines) that empowers us and our teams to work at our full potential by generating an environment of full engagement and concentration. You don't see Olympic athletes checking their BlackBerries before an event ' you should not permit random and frequent interruptions in your workday either.
Make KAIZEN (Continual Improvement) Your Mantra
Change is one of the only phenomenons we can bet on. Approximately a quarter of the professions that will exist ten years from now don't exist today ' what are you doing to prepare for this economic opportunity shift? Attorneys that are using the same skill set they used ten years ago are “falling stocks” within their organizations. You prepare for the future by integrating personal continual improvement on a daily basis. Upgrading your skill set is separate from CLE, which also must be built into your daily/yearly planning. Because KAIZEN is not legally mandatory, it's easy to get lost in the shuffle. At the end of the day, though, your currency is your “currentcy.” Your future customer base will require future skills and you must prepare for those skills by engaging in proactive, rather than reactive, learning. In his book “Outliers,” Malcolm Gladwell expertly explains the dramatic rise and success of firms like Skadden Arps and Wachtell Lipton in the second half of the 20th century by having the right legal skill set at the right time. Do you have the right skill set for the first half of the 21st century?
Command of the Work Flow
None of these guideposts will do you any good until you have complete command and control over your information and work flow/process. The first step in any real LEAN Six Sigma or performance improvement program is to make sure you are in control of your work environment and that it's not in control of you. I've worked with many attorneys who don't know the color of their furniture because it's been covered with Redwelds for so long. The bottom line is that attorneys in the new economy will be expected to deliver more “value” than ever before. Set yourself up for success by setting your office and behaviors up for success.
Paul Silverman is the President of Integra Workshops. His legal industry clients include in-house counsel at several Blue Chip Corporations, the U.S. Dept. of Justice and commercial firms.
The speed and shape of the American economic recovery is a matter of great debate. What is not up for speculation is the dramatic effect the downturn had on all businesses, including the legal industry. Workers and managers alike are struggling to figure out what will be expected from them in the coming business quarters, and how to deliver on these expectations. Here are three highlights for legal professionals, which just may make the difference between being in the black or in the red.
Everyone Is in Sales
When times are good, organizations tend to forget this axiom because the gravy flows freely. But this paradigm is the backbone of any profitable endeavor no matter the economic or political temperature. I have worked with many attorneys who dread the responsibility of making rain for their firms. They went to school and got their JDs in order to practice law, not to be a poster child for Dale Carnegie. It's bad enough that they have to spend excruciating time each day filling in their billable hours (for those that actually do it each day). But the fact is, everyone had a choice in their career regarding compensation. If you want to be compensated at the higher end, you can hang out a shingle or go with a large firm ' when they start hiring again. If you don't care about compensation, you can work for the Federal Government or get an in-house counsel position ' when they start hiring again. If you want to be compensated on the higher end, developing business is going to be a mandatory requirement. The good news is that it's not all that hard. The trick is to get everyone in the organization to realize that they are ALL in sales, from the receptionist to the paralegals to the facility manager. Every person is a reflection of your organization and they must always be looking for business opportunities.
Self-sabotage Is a Luxury You Don't Have
There are a number of behaviors in which professionals indulge that will be less tolerated as financial pressures mount. Certain activities in your day result in nothing of value and there is nothing you can do about it ' like potential client meetings. These are built into the price of business. But other activities that simply result in wasted time, and are entirely self-generated, must be eliminated. For example, the act of interruption results in millions of dollars of lost revenue every year. The reason is because it prevents pure focus and concentration that is required to generate billable product. There are times when interrupting colleagues and co-workers is important, but it's generally 20% of the time it's actually required. One of our jobs as seasoned professionals is to create an environment (i.e., rules and routines) that empowers us and our teams to work at our full potential by generating an environment of full engagement and concentration. You don't see Olympic athletes checking their BlackBerries before an event ' you should not permit random and frequent interruptions in your workday either.
Make KAIZEN (Continual Improvement) Your Mantra
Change is one of the only phenomenons we can bet on. Approximately a quarter of the professions that will exist ten years from now don't exist today ' what are you doing to prepare for this economic opportunity shift? Attorneys that are using the same skill set they used ten years ago are “falling stocks” within their organizations. You prepare for the future by integrating personal continual improvement on a daily basis. Upgrading your skill set is separate from CLE, which also must be built into your daily/yearly planning. Because KAIZEN is not legally mandatory, it's easy to get lost in the shuffle. At the end of the day, though, your currency is your “currentcy.” Your future customer base will require future skills and you must prepare for those skills by engaging in proactive, rather than reactive, learning. In his book “Outliers,” Malcolm Gladwell expertly explains the dramatic rise and success of firms like
Command of the Work Flow
None of these guideposts will do you any good until you have complete command and control over your information and work flow/process. The first step in any real LEAN Six Sigma or performance improvement program is to make sure you are in control of your work environment and that it's not in control of you. I've worked with many attorneys who don't know the color of their furniture because it's been covered with Redwelds for so long. The bottom line is that attorneys in the new economy will be expected to deliver more “value” than ever before. Set yourself up for success by setting your office and behaviors up for success.
Paul Silverman is the President of Integra Workshops. His legal industry clients include in-house counsel at several Blue Chip Corporations, the U.S. Dept. of Justice and commercial firms.
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