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Client Services Bulletin
Bulletin Number: 98-002 Date: December 1998 Subject: Periodic News

1. HOLIDAY WISHES

As another year comes to a close we would like to wish everyone a Merry Christmas and a Happy New Year. Thank you for working with us during the past year.

2. YEAR END PLANNING

Have you begun formulating your plans for 1999 and beyond? As 1998 comes to a close many of our law firm client firms are considering:

  • Financial goals and plans for the future
  • Effects of year 2000 computer upgrades upon the firm's financial plan
  • Resolving year 2000 computer issues in 1999
  • Conducting client surveys (See our insert this month on details concerning year-end client satisfaction surveys)
  • Formulating strategic business and marketing plans
  • Conducting firm planning retreats
  • Acquiring leadership skills training for attorneys
  • Acquiring client acquisition and retention skill development training for attorneys

3. NEW SKILL DEVELOPMENT SERVICES

Building and Maintaining Effective Client Relationships: A Client Acquisition and Retention Skill Development Seminar for Attorneys
A one-day in-house skill development seminar that focuses on developing essential client development skills and formulating effective behavioral styles. The Myers-Briggs Personality Type Indicator is used as a support tool. (See enclosed seminar outline)
Improving Staff Interoffice and Client Communications Skills
A one-day in-house skill development seminar that focuses on developing essential staff interoffice and client communications skills and formulating effective behavioral styles. The Myers-Briggs Personality Type Indicator is used as a support tool.
Ongoing Coaching in the areas of leadership, marketing, and client development
NOTE: Both Dr. John W. Olmstead, Jr., MBA and Dr. Thomas J. Venardos are certified on the Myers-Briggs Personality Type Indicator.

4. LAUNCH OF THE LAWYERS COMPETITIVE EDGE

In our last bulletin we announced that Dr. John W. Olmstead, Jr., MBA had entered into a partnership arrangement with West Group and would be the Editor-In-Chief for "The Law Office Economics and Management Journal" The journal has been revamped and given a new name. The revised publication will be called "The Lawyers Competitive Edge: The Journal of Law Office Economics and Management". The first issue will ship in January 1999. Subscriptions are $195.00 per year for twelve issues plus the annual Legal Software Directory and a storage binder. To order a subscription contact West Group at (800) 328-4880.

5. CALL FOR AUTHORS

We would like to thank all of the authors who have contributed articles and helped us with the launch of "The Lawyers Competitive Edge". The response has been tremendous. However, we are always looking 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. Dr. Olmstead is particularly interested in quality material on topics relating to law firm strategy and competitive advantage, leadership, human resources, marketing, and general management including technology.

6. ARTICLE ON LAW FIRM LEADERSHIP PRACTICES

See Dr. John W. Olmstead, Jr.'s, article on "How Effective Law Firm Leadership Practices Can Help You Acquire and Keep Your Clients" enclosed with the bulletin.

7. PRESENTATIONS

  • Dr. Thomas J. Venardos will be presenting and conducting a survey and program on "The Human Face of Change" with business owners and leaders in Albuquerque, New Mexico in January, 1999.
  • Dr. Thomas J. Venardos will be presenting a program on "The Four Necessary Adlerian Consulting Skills Needed to Develop 21st Century Organizational Performance Standards" on behalf of the North American Society of Adlerian Psychology, in Atlanta, Georgia on May 27th, 1999.

8. HOW WELL ARE YOU DOING? - TRENDS IN THE PROFESSION

  • Altman Weil has published the results of their 1998 Survey of Law Firm Economics. According to Altman Weil, hourly billing rates in 1998 are up with $206 representing the average for partners (a 6% increase over 1996), $145 representing the average for associates (8% increase over 1996), and $75 representing the average for paralegals (9% increase over 1996). According to the survey average lawyer gross receipts are up also. In 1998 average gross receipts were slightly under $300,000 versus $265,000 in 1996. The survey also points out that while billing rates and hours are up, law firm profits are flat. The complete survey can be obtained by contacting Altman Weil Publications, Inc. Phone (888) 782-7297.
  • The primary challenge facing law firms is recruiting and retaining quality legal and support talent. As the labor shortage continues salaries and recruiting costs are increasing at an alarming rate. In fact it has had a major impact on profits remaining flat in law firms despite increases in receipts and collections. Many firms are advising us that their ability to grow is being inhibited by their inability to recruit and retain quality talent.
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