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New business models for law firms

Day 10 to a Better Law Firm – Understanding Why Your Law Degree is Worth Less

Crying business personWe’re one-third of the way to your better law firm. We’ve made several changes so far. Let’s use this post to check in and see how things are going. Also, let’s discuss why these changes are mandatory for those not wanting to be left behind by the “new” legal profession.

Being a business person (you became a business person the instant you hung out your shingle) means understanding the world your business exists in. Lawyers relying on outdated business models will be closing their doors because they are trying to run their practice in the world they want to live in and not the world that exists. So you understand why the changes we’ve made so far are important, let’s understand why your law degree is worthless worth less when compared to the expectations of many attorneys. As you read this article you may begin to feel like this guy:

Lawyer writing blog postBut by implementing the steps we’re taking this month you can start to look like this guy:

Let’s take a look at changes to the legal profession that will require you to build a better law firm.

Lawyers often fail to understand fundamental changes in the legal profession

Let’s make one thing clear. Lawyers have made money in spite of themselves. Legal practices are traditionally inefficient businesses with horrible customer service. Few businesses make it with that style of approach. Lawyers have been following this model since before the U.S. was a country and have made money, in part, for reasons not discussed in the “our profession is going to hell” type articles – the decreasing information gap between attorney and client, the disappearance of practice areas, and fundamental changes to the U.S. economy.

Free Press Managing The Professional Service Firm
Book (Free Press)

You do not issue W2 forms to callgirls

by -

You do not live in Miami Beach
You do not own any property
You have not received any angel funding
You do not know several market makers
You have not worked for five dotcoms
You have no billionaire friends
You are not a contractor making $100k a year
You have never had sex with Playboy models
You have never mentored callgirls on their business models
You are not an "alpha male"
You have never worked in IT security
You are not building a company to fix the corrupt

In exchange for accepting a reported notebook ta

by dell-

In exchange for accepting a reported notebook tax from Dell that requires Quanta Computer to return 1.5% of the revenues it receives from the US vendor, Quanta will ship a record 10 million notebooks to Dell in 2007, and a total of 30 million units for the yearWith Quanta’s rival Compal Electronics refusing to pay the Dell tax, the shipment gap between the largest and the second-largest notebook makers will likely increase, further highlighting Quanta’s dominance in the Taiwan notebook industryWistron should continue following Compal as the number three maker, whereas Inventec and Asustek Computer will fill out the top-fiveQuanta’s shipments to Dell will contribute up to 55% to the vendor’s worldwide notebook shipments in 2007, with the orders including all of Dell’s consumer notebook products and part of its business models

*

by -

You have not done business with a VC several times
You do not have any "MoFo contrarian indicator"
You do not issue W2 forms to callgirls
You do not live in Miami Beach
You do not own any property
You have not received any angel funding
You do not know several market makers
You have not worked for five dotcoms
You have no billionaire friends
You are not a contractor making $100k a year
You have never had sex with Playboy models
You have never mentored callgirls on their busi

Aw, poor toxic bitter envious bunky

by -

You do not have any "MoFo contrarian indicator"
You do not issue W2 forms to callgirls
You do not live in Miami Beach
You do not own any property
You have not received any angel funding
You do not know several market makers
You have not worked for five dotcoms
You have no billionaire friends
You are not a contractor making $100k a year
You have never had sex with Playboy models
You have never mentored callgirls on their business models
You are not an "alpha male"

Report: IBM Named #1 Preferred Provider of IaaS Cloud by Enterprises  — Virtual-Strategy Magazine
Ultimately, the report states, players competing in the cloud services market will need to build to the end-state structure of a cloud service provider business model that resembles the automotive factory model of services delivery involving a robust ..

Reframing the fiduciary debate  — BenefitsPro
Rhoades proposes we reframe the argument by shifting the focus from the service provider's business model to the clients' best interests. Furthermore, he suggests we move the venue from the offices of regulators to the kitchen tables of clients.

Donna Kirk Seyle Law Practice Strategy: Creating a New Business Model for Solos and Small Firms
Book (Donna Kirk Seyle)
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