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For the fourth episode of our special series with ProfitSolv, we discuss how to set rates for law firms + how to leverage legaltech to create a streamlined billing program with ProfitSolv’s Joyce Brafford.
[SPONSORED by RocketMatter]
Episode Highlights
07:56 - Discussing law firm fee setting and market research.
12:44 - Strategies for resetting fees in existing law firms.
15:11 - Importance of law practice management systems.
18:34 - Subscription services and alternative billing models.
22:03 - Automating billing and payment collection.
24:55 - Managing accounts receivable and billing in advance.
27:01 - Dealing with LEDES billing and granular billing for insurance companies.
28:38 - Client perception on legal fees and building trust versus pricing.Episode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Joyce Brafford https://www.rocketmatter.com/ https://www.profitsolv.com/ -
I talked with an employment lawyer about how he has built and managed an automated intake workflow for his law practice.
Episode Highlights
09:18 - Tony shares his journey from solo practice to establishing Monarch Law LLC, illustrating the growth and rebranding of his legal practice, emphasizing the importance of evolving the firm's identity to transcend personal branding for scalability and client engagement.
15:12 - The discussion around the firm's rebrand to Monarch Law and the significance of the name and logo to convey transformation, technology, and treating clients like royalty.
19:50 - The guest underscores the efficiency gained in internal operations and client handling by transitioning to a more inclusive firm name, allowing for better distribution of work among staff.
21:24 - Tony details his selection process for Cleo Grow as his intake management software, underscoring the value of recommendations, integrations with existing systems, and feature sets in making the decision.
25:27 - The benefits of using a structured pipeline for client intake in employment law are highlighted, with a focus on filtering through the large volume of leads to determine which ones warrant further consultation.
29:03 - Tony boasts about his process improvements, managing to reduce intake calls from an hour to fifteen minutes via an effective, well-crafted intake form and approach.
39:58 - Tony passionately endorses using a CRM like Cleo Grow to track potential clients, streamline operations, and gather valuable data for business growth, emphasizing its seamless integration with Cleo Manage.
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Tony Interlandi [email protected] https://www.monarchlawct.com/
Episode Resources -
Saknas det avsnitt?
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I talked with an expert in law firm financial management about some of the top-level financial documentation every lawyer should be looking at on a regular basis.
Episode Highlights
08:37 - The conversation touches on the different Girl Scout cookies and how availability is dependent on the bakeries that councils have relationships with.
19:18 - Joyce's explanation of what a Profit and Loss statement is, emphasizing its importance and how it should be reviewed regularly to track trends.
24:48 - Discussion about how a Cash Flow Analysis document is future-looking and necessary for understanding business health.
27:27 - Importance of looking into Accounts Receivable, especially the alarming amount that law firms often have outstanding.
30:56 - The conversation shifts to discussing the necessity of financial trends analysis to set accurate goals and expectations.
37:32 - Differences between the roles of bookkeepers, accountants, and CFOs are clearly outlined, explaining what each professional does and how their roles relate to each other.
46:14 - Importance of dashboards for visual data management and how lawyers should focus on high-level financial management, instead of getting lost in complex accounting activities.Episode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Joyce Brafford https://www.profitsolv.com/ https://www.cosmolex.com/ -
I spoke with a law firm management expert about how to hire new employees in a challenging environment.
Episode Highlights
05:10 Why it’s very hard to find lawyers and law assistants
11:28 Insights on managing remote workers and the benefits of a globally distributed team
16:17 Firing staff members and the importance of having documented reasons
18:50 Keeping a min 30-day probationary period with ideal being 90-days
19:20 Advice to let go of unsuccessful candidates during the probationary period without any sunk cost fallacy
19:56 Why hiring a recruiter could be beneficial for law firms
21:40 Three red flags for candidates
26:17 Three things every law firm manager should know before hiring
29:19 Personal story shared about a job interview experience where the interviewee’s pants split which exemplified the importance of empathy in interview situations.Episode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Joyce Brafford https://www.profitsolv.com/ https://www.rocketmatter.com/ -
I spoke with a tech advisor about everything there is to know about building websites.
Episode Highlights
02:11 Bruce’s choice for the winning team in the ongoing tournament
03:16 What the Tab3 is about
05:27 Developing and selling websites
07:13 The cost structure of building out websites
09:07 Website content, SEO, and how to meet client expectations via a law firm's website
13:24 The process of launching a website
16:56 Navigation and how important website responsiveness is
20:05 The importance of being the first firm to respond to a client in winning their service
20:45 How the payment processing on website works
21:36 Preference of clients to pay online creating credibility for the firmEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Bruce Policky https://info.tabs3.com/ https://www.linkedin.com/in/bruce-policky-648b34131 -
I talked to an elder law attorney about how leverages tech with his clients, and when he doesn't.
Episode Highlights
03:59 Transition to discussing elder law practice and Jamie's move from Haroutunian Law Office to Priority Law
07:42 Separating the younger group from the more senior staff
09:54 Their process of assessing clients
12:07 Push to automation as an important part of incorporating AI
16:45 The challenges of getting millennial staff to meet senior clients midway in terms of technology use
18:53 Managing scheduling and payments with elder law clients
21:34 How they manage payments, acknowledging that a majority of their elder clients still prefer paying by check
23:01 What it’s like having consultations with different kinds of clients
24:20 The visualization tools they use during meetings
25:42 How older generations tend to be more respectful of appointments and traditional consulting methods compared to younger generationsEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Jamie Haroutunian [email protected] https://prioritylaw.com/ https://www.linkedin.com/in/james-haroutunian-1331ba6 -
Jennifer Sherman from Caret Legal came onto the podcast, to talk over some of the hot legal tech trends in the mid-market for law firms - including leveraging technology, upskilling staff and working remotely.
Episode Highlights
04:17 What Caret Legal is
08:49 How legal practice management solutions like Caret can help automate repetitive tasks, letting lawyers focus more on helping their clients and doing tasks they love
10:54 Talking to lawyers on how they can get started in automation
19:29 The importance of using technology to avoid burnout and upscale all employees, enhancing their productivity and efficiency
17:07 Transitioning from vendor-customer relationships to true partnerships
25:28 Ease of use for the client as a primary consideration and how this can have a significant impact on a firm's reputation, growth, and client-first approachEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Jennifer Sherman [email protected] https://caretlegal.com/ https://www.linkedin.com/in/jennifer-sherman-7318641 -
I talked to a digital marketing agency owner, who gave me the real story about shady behavior from legal marketers that you should watch out for.
Episode Highlights
06:01 The issue of getting locked into technologies without ownership or control over data
09:02 Defining what a viable lead is and how a good process integrates several systems
16:24 What law firms should do if you’re forwarding leads to them
18:30 The implication of reselling leads, emphasizing that those are assets of the law firms not the vendors
19:12 Bidding on the law firm's brand in a pay-per-click campaign
21:18 The economics of branded and non-branded queries, raising concern over agencies conflating these two different concepts
29:13 The issue of sharing data with competitors, even indirectly, through digital marketing agencies that work with similarly situated firms in the same localityEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Conrad Saam [email protected] https://mockingbird.marketing/ https://legaltalknetwork.com/podcasts/lunch-hour-legal-marketing/ -
I talked with a data management consultant about how to leverage law firm intake management technology, while keeping clean data sets.
Episode Highlights
03:49 The importance of good and reliable data for lawyers, its role in law practice, and common mistakes around data management
04:32 How law firms are dealing with data handling
12:20 CRM and Enterprise Relationship Management and the need for automation in contact capture
17:04 The involvement of AI
19:24 Successful data management in a top law firm, utilizing multiple data stewards
21:34 Various types of data and their roles maintained by data stewards
23:40 The difficulties in getting law firms to utilize technology effectivelyEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Chris Fritsch https://clientsfirstconsulting.com/ https://www.linkedin.com/in/chrisfritsch -
For the third episode of our special series with ProfitSolv, we discuss the primary building blocks for a technology forward law firm with ProfitSolv’s Joyce Brafford and Law Ruler's Matt Defrain.
[SPONSORED by TimeSolv]
Episode Highlights
05:44 Perspectives on conspiracy theories
12:12 What Law Ruler is
14:04 The concept of a client journey and how it applies to law firms
16:22 How to build a killer client journey
20:31 The drawbacks of not responding quickly to client inquiries and the benefits of using lawruler for instantaneous responses
27:53 The value of integrating Law Ruler with other law firm software
29:11 How Law Ruler can automate case management and intake automation, as well as after outreach marketing
34:16 Practice-specific data like the average time to open and close a matter and marketing expenditure for each practice areaEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Joyce Brafford https://www.profitsolv.com/ https://www.timesolv.com/ https://www.rocketmatter.com/ https://www.cosmolex.com/ https://www.linkedin.com/in/joyce-brafford Connect with Matt Defrain https://www.linkedin.com/in/matthew-defrain https://www.lawruler.com/ -
I spoke with a small law firm owner about how she uses technology to maintain a positive work-life balance, for her and her staff.
Episode Highlights
05:29 Erin’s journey of becoming a lawyer and starting her own law-practice for flexibility
09:18 What it’s like setting up a law practice twice
14:25 Technology used in Erin's practice and her sharing her experiences starting with basic Microsoft technology and eventually upgrading and becoming more robust over time
16:25 Adopting drafting software for her legal practice and her concerns about the security of her clients' information
16:43 How she started to use drafting software
18:26 Her struggles with bookkeeping and accounting for her firm
21:24 The benefits of Lawmatics including document sharing, client intake data, and delivering more affordable legal services
22:20 Staff flexibility in her firm and how she wants her team to maintain a work-life balance
25:06 How she maintains running her business, volunteering in community activities, and having a family
28:28 Using her Apple watch to manage and monitor her stress levels
29:51 The challenges and frustrations that can come with using technology in her practiceEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Erin McBee www.lawofficeoferinmcbee.com https://www.facebook.com/McBeeLaw/ -
I talked with a public relations expert about how lawyers should prepare for, engage at and follow up after a conference.
Episode Highlights
02:16 The premise of Janet’s company and how it works with attorneys on their public profiles and relations
04:27 Some of Janet’s favorite conferences to attend to
06:38 Steps to get ready when attending a conference
10:30 Tips for engaging with speakers
13:53 What happens once you’re at the conference?
16:41 The importance of business cards and making the most use of them
21:36 Janet’s bonus tip: BYON
25:21 The importance of publishing views and articlesEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Janet Falk [email protected] https://janetlfalk.com/ https://www.womenownedlaw.org/ -
I spoke with a law firm consultant about how to select the best hardware and software for law firms.
Episode Highlights
03:42 How the Oregon State Bar Professional Liability Fund provides legal malpractice insurance and their range of services
07:11 What firms should be looking at when getting a legal software
12:21 The checklist when doing assessments of your legal software
15:28 Software that law firms should have
17:39 Some of the challenges that come with the integration of various software types
19:32 How lawyers should be managing their tech budget
21:24 Best practices for optimizing software utilization
24:34 How lawyers could benefit from general business platforms not specifically built for law firms like Adobe Acrobat, email systems, and task management softwareEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Rachel Edwards [email protected] https://osbplf.org/ https://www.linkedin.com/in/rachel-edwards-15a4162a -
For the second episode of our special series with ProfitSolv, we discuss the primary building blocks for a technology forward law firm with ProfitSolv’s Joyce Brafford.
[SPONSORED by Cosmolex]
Episode Highlights
06:51 Law firms having issues with financial management and their reliance on the right software
09:53 Characteristics of a software that law firms should be looking at
11:57 Questions that firms should be asking to address their legal tech concerns
17:54 The modern financial management products' features such as transparency and dashboard population
18:54 How having prebuilt, ready-to-go reports can help law firms see the balance of their three-way reconciliation and where the discrepancies lie
20:45 Other products that law firm owners should consider such as productivity software: CRM intake software, e-signature tools, and e-payment tools.
23:16 The importance of having an effective online presence and the need for legal tech companies to take control from predatory solutions in the market
25:45 The value consistency in marketing for law firms along with the use of AI like ChatGPT to generate ideas and content
31:18 The unexplored opportunity for law firms to gain a competitive edge by investing a small amount in Google, social media or SEO marketing
32:20 Clearview Social and how it allows lawyers to schedule their social media activities and have their network share their content
33:15 The significance of considering law offices as businesses that need to generate profit, and the role technology solutions like ProfitSolv can playEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Joyce Brafford https://www.profitsolv.com/ https://www.rocketmatter.com/ https://www.timesolv.com/ https://www.cosmolex.com/ https://www.lawruler.com/ https://www.linkedin.com/in/joyce-brafford -
Jared spoke with a biz dev consultant for law firms about how attorneys should be taking advantage of the legaltech they missed out on in the last decade.
Episode Highlights
03:53 How Betsy transitioned from practicing law to coaching other lawyers, especially on business development
06:52 Using technology in running law firms
11:39 Strategies on how to get lawyers to participate in social media in a way that genuinely portrays their personality and provides value to their network
16:14 Using different social channels for business intelligence, such as subscriptions to industry newsletters and following relevant companies on LinkedIn
21:40 The power of Twitter as a real-time source of breaking news and its role in modern media consumption habits
24:22 The importance of recognizing industry experts and sharing useful, summarized knowledge on platforms like LinkedIn
25:36 Privacy and the importance of in-depth research
28:21 Customer Relationship Management (CRM) use in firms and the lack of effective use especially in small and mid-sized firms
31:30 Artificial intelligence (AI) and its implications for the legal industry - both at a firm level and for individual lawyersEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal www.linkedin.com/in/jaredcorreia/ Connect with Betsy Munnell www.linkedin.com/in/ehmunnelllawyercareercoach/ http://ehmunnell.com/ -
Jared talked with a law practice management consultant about her best technology tips.
Episode Highlights
05:16 Legal technology and law practice management software
05:54 Reasons law firms should start using law practice management software
07:23 How some law firms keep everything organized
08:55 Different integrations for case management software
13:13 Tips for data security and encryption
15:28 Why CRMs are important for law firms
16:50 Integrating CRM with practice management software to eliminate data duplication
19:05 The increasing number of firms entering the market for data backup solutions
21:04 Remedies for lawyers and legal professionals to avoid burnout and maintain work-life balance, including taking frequent micro breaks and doing exercises or activitiesEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal Connect with Laura Keeler http://lclma.org/ https://www.linkedin.com/in/laura-keeler-97879a8 -
I talked with a Google product expert about the best methods for maximizing a Google Business Profile for law firms.
Episode Highlights
04:59 What a Google Business Profile is and why it’s important
08:05 Google Business Profile versus other AI features
09:13 How to optimize your Google Business Profile
11:41 Getting Google reviews and the best practices for getting them
17:09 Handling and contesting negative business reviews
20:56 What effective gatekeeping is
23:38 The usage of AI-generated images in commercial use
24:48 Priorities and tips for Google Business Profiles management this yearEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal Connect with Devin Harper [email protected] https://niftymarketing.com/ https://www.linkedin.com/in/devinharper -
For the first episode of our special series with ProfitSolv, we discuss best practices for modernized law firm time tracking with ProfitSolv's Joyce Brafford, and a law firm management consultant.
[SPONSORED by Rocket Matter]
Episode Highlights
05:38 What Laura does which involves helping lawyers figure out how to run their businesses
06:27 The reasons why time keeping is important for law firms
11:02 Time tracking best practices
12:59 Passive timekeeping and the benefits it offers for attorneys and law firms
15:16 What Rocket Matter Track is
18:13 The future of software and the importance of utilizing technology for passive timekeeping to improve effectiveness and efficiency in the legal sector
21:19 How technology can automate tasks and make alternate billing methods profitable for law firms
22:05 The influence and future prediction of AI
26:35 Other time tracking tools in the ProfitSolv familyEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal Connect with Joyce Brafford [email protected] https://cmgconsultants.com/ https://www.profitsolv.com/ https://www.rocketmatter.com/ https://www.timesolv.com/ https://www.cosmolex.com/ https://www.linkedin.com/in/joyce-brafford Connect with Laura Kennedy https://cmgconsultants.com https://cmgconsultants.com/team/laura-kennedy/ https://www.linkedin.com/in/laura-kennedy-18b41022 -
I talked to a law firm business broker about how law practices get bought and sold.
Episode Highlights
03:05 How Jeremy got into the business of selling law firms and the growing trend of acquisitions and transactions in small law firms
09:01 Solutions for attorneys who find themselves in a situation where they're losing business due to lack of digital presence
11:24 Several options that lawyers with issues on digital presence practice
15:22 Example of an attorney who benefited greatly from joining a larger firm and how her book of business was leveraged
16:44 The three primary things that you need to update to build your digital presence
19:56 Synergy value and its importance to growing firms
23:19 Benefits of building out a technology platform in a firm
23:50 How using CRM can provide data that can be beneficial when presenting to potential buyers
25:48 Processes and workflows that law firms and lawyers should keep in mindEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal Connect with Jeremy Poock https://www.seniorattorneymatch.com/ https://www.linkedin.com/in/jeremypoock https://www.youtube.com/channel/UClehhEdK8USY6tWi9Mi__ng -
Jared spoke with an economist about the technology he uses in his business (including some legaltech!), how he works with law firms, and what tips he has for them.
Episode Highlights
02:41 Nick's profession as a forensic economist and his roles in various court cases
04:22 The nature of forensic economics as a historical analysis of data
05:15 How Nick's proficiency in Excel and how he uses it in his workflow.
07:38 Using case management software (Clio) for billing purposes in his business
10:00 Other technologies Nick uses in his business
13:00 AI image generation and how Nick uses it for his webinars
14:40 The image generation process works using different AI tools
16:44 How Nick uses ChatGPT, a generative AI tool, for coding automations
19:30 How ChatGPT can help non-coders to automate tedious tasksEpisode Resources
Connect with Jared Correia [email protected] https://redcavelegal.com/ https://www.linkedin.com/in/jaredcorreia https://twitter.com/RedCaveLegal Connect with Nick Briscoe https://www.briscoeeconomics.com/ https://fmworldcup.com/excel-esports/microsoft-excel-world-championship/ - Visa fler
