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Client Services Bulletin
Bulletin Number: 98-001 Date: July 1998 Subject: Periodic News

1. JOHN OLMSTEAD COMPLETES PHD

Dr. John W. Olmstead, Jr., MBA has completed his Doctor of Philosophy Degree in Business Administration with Specialization in Organizational Development and Marketing. His dissertation was on law firm leadership which will be published in an upcoming book.

2. WEST GROUP & OLMSTEAD & ASSOCIATES PRESS RELEASES

West Group and Olmstead & Associates have announced that Dr. John W. Olmstead, Jr., MBA, Ph.D, president of Olmstead & Associates Legal Management Consultants, is the new Editor-In-Chief for "The Law Office Economics & Management Journal." Over the next several months the publication will be updated and revamped in order to continue to provide readers with stimulating and fresh ideas from lawyers, administrators, marketing directors, and other prominent professionals for the successful management of law firms during these challenging times.

3. CALL FOR AUTHORS

In conjunction with the above announcement Dr. John Olmstead is searching for article submissions from individuals involved in law office management desiring the professional recognition that results from having articles published in professional journals. Articles can be short such as general tips or lengthy. John is particularly interested in quality material on topics relating to law firm strategy and competitive advantage, leadership, marketing, and general management including technology.

4. PRESENTATIONS

  • Dr. John W. Olmstead, Jr., MBA, Ph.D presented on behalf of the Legal Technology Committee at the annual meeting of the Illinois State Bar Association which was held in St. Louis, Missouri on June 18th, 1998. He also participated on a breakfast panel on behalf of the Law Office Management and Economics Section at the annual meeting as well.
  • Dr. John W. Olmstead, Jr., MBA, Ph.D will be presenting a program on "Marketing Professional Services" on behalf of the Albuquerque, New Mexico Chapter of the International Association of Business Communicators in July, 1998.
  • Dr. Thomas J. Venardos will be presenting a program on "Building Successful Strategies Using a Holistic Psycho-Educational Teaching Approach" at the 15th Annual Pacific Resources for Education and Learning Conference in Lihue, Kauai in August 1998.

5. THANKS TO ALL ATTORNEYS THAT PARTICIPATED IN DR. JOHN OLMSTEAD'S DOCTORAL DISSERTATION ON LAW FIRM LEADERSHIP

  • A special thanks to all of the attorneys who took the time to complete our survey questionnaires relating to law firm leadership and interpersonal traits.
  • Look for results to be highlighted in future issues of this bulletin.

6. ARTICLE ON IMAGE

See Dr. Thomas J. Venardos's article on lawyer image enclosed with the bulletin.

7. CORNERSTONES OF A SUCCESSFUL LAW FIRM

It has been our experience that unless the following foundation is in place other managerial initiatives will not be successful.

PARTNER RELATIONS

A solid partner culture must exist that it based upon trust, respect, and accountability.

  • Follow-thru
  • Ability to get things done
  • Proactive
  • Willing to view non-billable time as an investment in the future
A firm-first attitude must exist.

LEADERSHIP

Sound leadership where leadership is:

  • Capable and competent
  • Trusted and respected
  • Visionary
  • Proactive
  • Pushes for action
  • Achieves concrete results

MANAGEMENT

Management team:

  • Consists of people with requisite management skills
  • Governance is appropriately balanced regarding management, administration, and overall policy making concerns
  • Has authority to accomplish responsibilities
  • Goal orientated
  • Willing to invest in the future

PARTNER COMPENSATION

Subjective "total contribution" systems that reward in addition to fee generation and origination:

  • Teamwork
  • Practice management
  • Marketing efforts
  • Management and training of associates and staff

PLANNING

Firm has a long range plan in place that addressed:

  • Future direction and growth
  • Focuses upon competitive advantage
  • Specific strategies for competing in the marketplace

MARKETING

  • Client focused and client service orientated
  • Strategies employing all of the following:
    • Service
    • Delivery
    • Pricing
    • Promotion
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