The danger of discounting

Whenever I tell a client that discounts are the biggest expense at their firm, they invariably defend the reasons why they give discounts.  “Discounts are good, because they bring us more business,” they say. Or “Every firm offers a discount, and we have to be competitive.” And “The banks force us to give their clients a discount.”  It’s hard to argue with this logic, because there is some truth in all of those statements. Unfortunately for law firms, discounts are a necessary evil. Having said that, there is necessary discounting, and then there is unnecessary discounting. It is the latter that we are concerned about.

robots are not lawyers

Motion to dismiss - May it please the Court of public opinion (though it probably won’t), I am a lawyer. As such, I move here to dismiss claims that a chatbot can do an attorney’s job.
Read more at Quartz Media...

Blockchain assets

After many friends and family members asked me to explain my investments in blockchain assets, I decided to write an email. That email turned into this blog post.
Read more at Medium...

Drone insurance

Drones, formally known as unmanned aerial vehicles or remotely piloted aircraft systems, have gained significant commercial momentum over the past few years. While these aerial vehicles come at an expensive price, many people now buy one as a toy or it forms part of a hobby.

Sales and marketing in law firms

When I ask lawyers to differentiate the terms, their answers reveal a gut-level appreciation that marketing is somehow broader, more diffuse, while selling is more focused and has more to do with immediacy and closure. So, for law firms, is the difference between marketing and sales merely semantic and, therefore, unimportant? I’ll argue that the difference is both meaningful and important. 
Read more at JDSupra...

Kill the billable hour

Company lawyers are increasingly innovating and want law firms to kill outdated time-based billing models, according to an extensive biennial survey highlighting the pressures of a "buyer's market" forcing firms to change. The Association of Corporate Counsel report on the practices of Australian and New Zealand in-house lawyers shows legal spend hits $2.6 million a year on average, but higher workloads and pressure to cap costs are driving innovation and outsourcing to different providers.
Read more at The Australian Financial Review...

Good tips for website design

We’ve had the privilege of working with hundreds of lawyers across the United States and we’ve reviewed thousands of lawyer websites since we launched Spotlight Branding back in 2011. As a result, we’ve got a strong grasp on what works, what doesn’t, and where many lawyers are being led astray.
Read more at Spotlight Branding...

ai opinion

There are various definitions of Artificial Intelligence and it seems to be cropping up in just about every conversation these days.  I like to think about it as Artificial Intelligence (AI) being the concept of machines' ability to carry out tasks in an intelligent manner, with Machine Learning (ML) being a subset of AI (which allows machines to digest data and through the process, learn for themselves).

Online Communities

Online communities will revolutionize the law. Many lawyers are understandably skeptical about the role that they might play. But, if law firms are going to take advantage of the opportunities and overcome the pitfalls, they will need to have a strategy to engage with them.
Read more at Legal Technology Today...

6 must haves for law firm websites

Your website is one of the most important marketing and business development tools you have. The primary purpose of your website is two fold: 1) to help potential clients find you; and 2) once they find you, to tell them about you and what you do. There are 6 website features that are crucial to generating more leads: Mobile, Contact Info, Attorney Profiles, Practices Areas, Testimonials and Reviews, and a Blog.
Read more at Legal Technology Today...

BlockChain Explained part 1

Over this past year I took a keen interest in understanding cryptocurrencies such as bitcoins and quickly realized that while digital currencies were powerful, the technology that powers them — blockchains, could change the face of how business is done. This post is the first in a 3-part series where I will present an overview of cryptocurrencies & blockchains, how blockchains are born and the broad concepts that make them possible. I will also share my notes on the business use cases for blockchains and implications for our “Internet of Things” future.
Read more at Medium...

a troubled firm

Dewey & LeBoeuf LLP was the result of the merger in 2007 of New York-based law firms Dewey Ballantine LLP and LeBoeuf Lamb Greene & MacRae LLP. It was touted as the 14th largest firm by headcount and the 16th largest firm by revenue in the United States.  In May 2012, almost five years after its celebrated union, Dewey & LeBouef filed for bankruptcy protection.
Read more at Law Practice Today...

Bitcoin over $2000 mark

The world’s most popular cryptocurrency is now worth over $2,000 per coin.  That’s according to a range of bitcoin exchanges, including Coinbase and Kraken. That valuation puts the total market cap of bitcoin — the total number of coins in circulation — at $32.92 billion.
Read more at TechCrunch...

Productivity tips from legal experts

Legal Technology Today has a LTRC Expert Roundtable committee which discusses issues and solutions to law firms, based on their own experiences.  This month they asked the experts to share some of their personal productivity tips.
Read more at Legal Technology Today...

Delegation tips for lawyers

Effective delegation for lawyers involves more than just flinging files at people! Honestly, seeing lawyers delegate sometimes is enough to make me want to just start banging my head against the wall. But I don’t – because that sounds like it would hurt.
Read more at Tips for Lawyers...

Use video on your law firm website

Video is a highly effective marketing channel and you should strongly consider leveraging it on your law firm website. In this article, I’ll break down four reasons why this is the case.
Read more at Law Technology Today...

Bitcoin as legal property

As Bitcoin is adopted by more users every day, the need to determine how it can integrate into mainstream society becomes even more pressing. One major question continues to be how traditional laws apply to Bitcoin and its use. Many of those determinations could have major implications for Bitcoin and its holders, and few will play a bigger role in the United States than property laws, which could ultimately govern ownership over the digital currency.
Read more at BitCoin Magazine...

Free law firm marketing consulting

Our Law Firm Marketing 101 series has been going for over a year now, with us publishing one practical tip for law firms to generate new business each week. The problem I have with all this good information, is that I have not seen these principles being implemented one at a time and measuring the success as we cross them off the list. I want to consult with a Durban law firm to attract new business through calculated marketing efforts.

SEC and bitcoin

During early March 2017, on the brink of the South African Blockchain conference, wearing the Bitcoin badge of innovative positivity was the article entitled "Financial Product Wrappers: A Regulatory Home for the Wayward Bitcoin" written. An article inspired by the then pending Winklevoss Bitcoin exchange traded fund ("ETF") application, the approval of which was at the mercy of the United Stated Securities Commission ("SEC").

attorneys are not natural sales people

Most attorneys aren’t sales people, fact. Most sales people aren’t knowledgeable in law, fact. Both careers need education, experience and hard work to perfect their line of work. What makes everyone think that sales and marketing for law firms happen without people being educated or experienced in marketing?

Have your goal in mind when starting a marketing campaign

Planning your marketing campaigns is vital when deciding to chase new business – just having a plan to follow and measure along the way. But why in reverse?

CRM systems

Any business, looking to grow and nurture their client base must use a Customer Relationship Management system – FACT. A law firm is a business, even if it is a professional services business, it too must have a CRM system.

Stand out from the competition

To the man on the street, there does not seem to be that much that differentiates one law firm from another. Your goal in marketing your law firm, should be about finding ways to differentiate your law firm from the rest.

Bitcoin accepted here

As crucial as BitCoin may be to the growing global financial markets and as much as it may revolutionise concepts relating to payment and economic freedom, its volatile market value, reports of hacking and theft and alleged dalliance with the "dark web."  has resulted in the perpetuation of the BitCoin narrative as untrustworthy.

Teamwork for marketing

Surely, the people who work at your law firm, know your business and law firm personality way better than any outsider marketing consultancy, right? These trusted people should be your golden nuggets when it comes to bringing in new business.

Tips for law firm websites

Whether a small or large firm with hundreds of attorneys, your website is likely the foundation of business development, and new client lead generation. There is certainly a lot of advice on how to make a website effective. So much information that it might be difficult to determine where to start?
Read more at Modern Marketing...

Lawyers networking

The majority of lawyers don’t need to network their services, so why should you?

Meeting clients at their office

In all sales training, they always push the fact of doing whatever you can to get time in front of your prospect or client. I know you are no door to door salesperson, but getting in front of your client is very important and effective.

Top 10 websites by Lawyerist

For eight years, we have been finding the best examples of law firm website design from numerous nominations. Our selection criteria include best practices for website design, basic search engine optimization, and website security. Here are the top ten for 2017
Read more at The Lawyerist...

Smart contract using blockchain

There are many reasons we all stand back and “keep an eye” on blockchain technology, it is new technology – stay away until it becomes more of an accepted thing, there is no way it can be trusted – it is just technology trusting technology, outlaws use it to exchange money – lots of it.  Don’t be fooled, it is here and those taking it seriously are already working flat out to adopt the super secure and rock solid transaction history systems in just about all aspects of business – and law business is one with a big target on it’s back.

Keep marketing momentum going

The magic to effective marketing, with not only law firms but any business, is to keep in contact with your prospects often enough to be top of mind, but not that often that they start to hate you and your law firm. 

7 Startup Tips to Law Firm Marketing

Marketing a law firm is a daunting task and often I have been asked by lawyers, just where and how should they start – as the number of options and types of marketing are overwhelming. I decided to share just 7 ideas to get a law firm off to an effective marketing campaign.

use marketing ideas from your opposition law firms

“Only a fool learns from his own mistakes. The wise man learns from the mistakes of others.” ― Otto von Bismarck - Author of Gedanken und Erinnerungen. It makes logical sense to watch your competitors and learn from their marketing mistakes and their successes.

Artificial Intelligence in Law

In the film ‘Back to the Future II’, Doc Brown tells our hero Marty McFly: “the justice system works swiftly in the future now that they've abolished all lawyers.” Doc was referencing an imagined 2015, but in 2016 lawyers are far from being abolished. The legal profession, traditionally slow to embrace technology, is now at least partly embracing the opportunities associated with algorithm driven computer technology. At either end of the opinion spectrum there are two main schools of thought: 1) AI spells the end of the legal profession versus 2) AI provides the profession with opportunities it should embrace. (View the Infographic)
Read more at Law in Order...

Online reviews

The next time a new client finds you, it will likely be via a Google search on a cell phone, including the phrase "reviews of..."

Almost everyone -- 92% of consumers -- now read online reviews to judge local businesses, according to BrightLocal. Regardless of your real-world reputation -- friends, colleagues, the bench or opposing counsel -- your online reputation can literally make or break your law practice.
Read more at Larry Bodine's Blog...

law firm client gift

We all love receiving gifts and most of us get a warm feeling about giving others something, especially when they don’t expect anything.

response to client calls and emails quickly

We all have nightmare stories about providers in the service industry - how they never pitch for a quote, they never call back, or they forget to quote after the initial meeting.

SWIFT testing blockchain for interbank transactions

An announcement Thursday (Jan. 12) said SWIFT will launch a proof-of-concept test to explore the use of blockchain technology for cross-border payments and settlements by banks. Described as a “research effort,” the move is part of its overall global payments innovation (GPI) initiative, SWIFT noted, which explores innovative technologies to streamline and accelerate interbank payments used to move money across borders.

Law and blockchain

Josh Stark is a lawyer and head of operations and legal at Ledger Labs, a blockchain consultancy based in Toronto. In this CoinDesk Op-Ed, Stark argues that the field of "law and blockchain" encompasses two distinct topics: the application of law to the technology, and separately, the potential for that technology to transform legal systems and services.
Read more at CoinDesk...

creating a good law firm domain name

First impressions count…in terms of marketing and in terms of stickability in the mind of your potential client. Domain names are the first impression your firm will get when people either Google your law firm, or when given the domain name by others. Make sure it is a good and lasting impression.

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