Online CLE

Future-Proofing Your Law Practice

1 Practical Skills credit

Excerpted from the Oregon State Bar CLE seminar Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice, presented on July 7–8, 2017

© 2017 Kim Mayberry. All rights reserved.

ii

Chapter 8

Future Proofing Your Practice—Presentation Slides

Kim mayberry

REAL Automation SolutionsMiddleton, Idaho

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–iiSecond Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–1Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

1

Future Proofing Your Practice

Presented By

Kim Mayberry, Certified Lean Six Sigma Black Belt

REAL Automation Solutions

www.realautomators.com

‘Cynics do not contribute, skeptics do not create, doubters do not achieve.’

Bryant Hinckley

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–2Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

2

Are you finding it harder to get new clients?

Do you have pressure from your clients to charge less?

Do you feel like you are “Fire Fighting” all the time?

Do you feel stuck in your practice?

Do you have time to strategize about your firm’s direction?

Do you have enough personal and family time?

The Market Has Shifted

‘Lawyers are perceived as expensive’ (1)

‘Public worries that lawyer will be confrontational and drag things out’ (1)

‘Many try to do it on their own’ (1)

Middleclass is leaving traditional legal services behind (1)

(1) Future of Legal Services in Utah - Utah Bar Report 2015

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–3Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

3

Demand for Legal Services

Demand for Law Firm Legal Services

Legal Services Trends

Deloitte June 2016 - Future Trends for Legal Services Global research study

2017 Report on the State of the Legal Market - Produced by The Center for the Study of the Legal Profession at the Georgetown University Law Center and Thomson Reuters Legal Executive Institute

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–4Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

4

2017 Report on the State of the Legal Market - Produced by The Center for the Study of the Legal Profession at the Georgetown University Law Center and Thomson Reuters Legal Executive Institute

2017 Report on the State of the Legal Market - Produced by The Center for the Study of the Legal Profession at the Georgetown University Law Center and Thomson Reuters Legal Executive Institute

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–5Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

5

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–6Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

6

Supply vs. Demand

(1) Future of Legal Services in Utah - Utah Bar Report 20150

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

1860 1880 1900 1920 1940 1960 1980 2000 2020 2040

NUMBER OF ACTIVE ATTORNEYS

Source: http://www.americanbar.org/content/dam/aba/administrative/market_research/total-national-lawyer-population-1878-2016.authcheckdam.pdf

Supply vs. Demand (continued)

Source: http://www.americanbar.org/content/dam/aba/administrative/market_research/total-national-lawyer-population-1878-2016.authcheckdam.pdf

0

100

200

300

400

500

600

700

800

900

1000

1860 1880 1900 1920 1940 1960 1980 2000 2020 2040

NUMBER OF PEOPLE PER LAWYER

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–7Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

7

Picture of sinking ship

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–8Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

8

Steps to Future Proofing Your Practice

Crystalize your goal

Develop your team

Eliminate $10 an hour work

Delight your clients

Your Goal/Passion/Reason for Practicing Law

Your Team

Syst

ems

Successful Law Firm

Del

ight

Cl

ient

s

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–9Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

9

Picture of boat not on plain

Increase Revenue

Improve Efficiency

More Family/Personal Time

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–10Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

10

SpecificMeasurableAchievableRelevantTimebound

Step 1 - Increase Revenue

Step 2 - Increase Profitability by 15% by December 31, 2017

Step 3 – Determine on a monthly basis what actions need to occur to get to the 15% increase

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–11Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

11

GRAT Model

Team

Alignment

Respect

Gratitude

Step 1 – Determine the Bottleneck

Step 2 – Develop processe(s) to alleviate the bottleneck

Step 3 – Repeat with new bottleneck – Continuous Improvement

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–12Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

12

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–13Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

13

Step 1 – Determine Basic Needs

Step 2 – Determine Performance Needs

Step 3 – Determine Delighters

Your Homework

Think about what you really want in your life and practice

Set two SMART goals to achieve what you want in your life/practice

Come to the “Part II: A Client Services Case Study”

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–14Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

6/23/2017

14

www.realautomators.com/oregon

Free Items

• Access to Our HotDocs BootCamp for 6 Months• Jumpstart Training

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–15Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice

Chapter 8—Future Proofing Your Practice—Presentation Slides

8–16Second Annual Solo and Small Firm Conference—Agile and Cyber-Savvy: Advancing Your Practice