The document outlines key strategies for law firms to enhance business development and client relations, emphasizing the importance of training lawyers in effective business development techniques. It also discusses alternative fee arrangements (AFAs) and how they can improve client relationships while offering various billing structures, as well as accounts receivable management practices to optimize cash flow. Additionally, it highlights the benefits of managed services in law firms to improve efficiency and cost control.

1. The New Business of Law: Ideas and Solutions for Effective ManagementJanuary 26th, 2010

2. AgendaNew Business DevelopmentArthur G. Levin; President – AGL Associates7 Habits of Highly Effective Insurance ProgramsUri Gutfreund; Law Firm Insurance Guru - Singer Nelson CharlmersManaged Services: “Onsite Outsourcing in the Law Firm”John Imperiale; Sr. Vice President – GLC Business ServicesAlternative Fee ArrangementsRick Puzo; Partner – J.H. Cohn LLPKeys to Effective Accounts Receivable ManagementMartin Hali; President – Receivable Outsource Management

3. The New Business of Law: Ideas and Solutions for Effective ManagementJanuary 26th, 2010

4. NEW BUSINESS DEVELOPMENT A Cooperative Firm-wide NecessityPresented by:Arthur G. LevinPresidentAGL ASSOCIATES

5. BUSINESS DEVELOPMENT AND CLIENT RELATIONS The vast majorityof all business coming in to law firms comes in as a result of Partner personal contact.Some partners have a natural ability to interact with others in such a way as they attract business, all others need some degree of training and/or assistance.

6. As a firm leader you have the responsibility to provide at least basic business development training to all lawyers. Every lawyer must know:How to conduct themselves at a first meeting with a potential clientHow to give others a reason to direct referral sources and potential business.BUSINESS DEVELOPMENT AND CLIENT RELATIONS

7. How to “ask for business” by telling the other person what’s in it for themHow to convey their expertise to others.How to use the right words to convey the firm’s business development message.How to properly encourage friends and family to help him/her develop business.BUSINESS DEVELOPMENT AND CLIENT RELATIONS

8. As a firm leader, you must assure that:Marketing efforts are well organized and understood by the entire firmThe firm compensation system encourages and does not discourage business developmentLawyers are not penalized for legitimate time spent in developing worthwhile businessBUSINESS DEVELOPMENT AND CLIENT RELATIONS

9. BUSINESS DEVELOPMENT AND CLIENT RELATIONSBusiness development results are monitored for effectiveness based on gross fees received reduced by actual overhead cost.If you do individual partner Marketing Plans, that they are realistic and monitored for results and not just a waste your time.Lawyers are rewarded for active client retention and fee growth.EVERY LAWYER IN THE FIRM HAS A ROLE IN FIRM BUSINESS DEVELOPMENT.

10. BUSINESS DEVELOPMENT AND CLIENT RELATIONSAdditional things you can do:Target specific clients and establish a realistic strategic acquisition plan.Develop a comprehensive lawyer connection questionnaire.Establish an understanding among all partners of what every other partner does and establish a formal, continuous method for internal cross selling.

11. BUSINESS DEVELOPMENT AND CLIENT RELATIONSFirm’s leadership must address the following in today’s highly competitive law firm environment:Encourage cross selling with other professionals.Reduce partner internal competition and create a firm atmosphere where lawyers think of clients as “clients of the firm”. Foster innovation and create fun.

12. BUSINESS DEVELOPMENT AND CLIENT RELATIONS Utilize billing innovation to meet a client’s needs with strict firm control.Strongly encourage client growth and succession by making it part of the firm culture.Fire non-productive clients based on ROI.Understand internal and client generational differences.Maintain strong alumni relations.Visit clients regularly.

13. BUSINESS DEVELOPMENT AND CLIENT RELATIONS Use client surveys or independent client interviews.Praise all business development success publicly.Develop realistic firm differentiators and make sure every lawyer knows how to present them.Utilize modern tracking technology.Create a strategic firm wide marketing plan.Stay away from lawyers when you market. Go to where potential clients are.

14. BUSINESS DEVELOPMENT AND CLIENT RELATIONS Use a case management plan and a budget when you initiate every significant matter.Eliminate “Stealth Marketing” where lawyers hide behind the firm’s general business development program.

15. BUSINESS DEVELOPMENT AND CLIENT RELATIONS A few things to think about:Do you truly understand all aspects of your client’s business?Do you take the time and effort to truly evaluate the service you provide to assure that it is holistic and serves the client’s needs not just his requests?Do you and your firm colleagues sit down and discuss how the firm may better serve your clients?

16. The New Business of Law: Ideas and Solutions for Effective ManagementJanuary 26th, 2010

17. 7 Habits of Highly Effective Insurance Programs Catch the mistakes before they catch youPresented By:Uri GutfreundLaw Firm Insurance Guru Singer Nelson Charlmers

18. Insurance - Who Cares?You Do – How’s 1m – 2m in New Business

19. Competitive Advantage/ Disadvantage

20. Won’t put you out of business – Avoid Errors

21. Return on investment

22. Increase profits to partnership of $100k - $200k

23. Professional Liability, Health, Office InsuranceWhich firm are you?No systems programs

24. Risking the firm

25. Wasting money

26. Leaving investment under utilized

27. Waste time

28. Process and Procedures

29. Saving Money, increasing your profits

30. Maximizing insurance dollars to get the most bang for your buck

31. Stop the contributions7 Habits of Highly Effective InsuranceProcess and ProceduresTime InvestmentPartnersTechnologyMorale Enhancing BenefitsLearn the systemWork the system

32. Uri’s TOP 10½ Quick HitsStart Professional Liability process 90 days before renewalRule of 12 CompaniesDisability Insurance policies with your partnership agreementsValuable PapersEmployee Benefit LiabilityEngage your employees in the processEmployment Practices Liability InsuranceCheck your limitsInterview your brokerStop Contributing to insurance companies – they aren’t needy charities10.5 Post Retirement Health Insurance

33. Any Questions Uri Gutfreund, RPLUSinger Nelson Charlmerswww.singernelson.comUri.gutfreund@singernelson.com212-826-9744

34. The New Business of Law: Ideas and Solutions for Effective ManagementJanuary 26th, 2010

35. Managed Services: “On site Outsourcing in the Law Office”Presented By:John ImperialeSr. Vice PresidentGLC Business Services, Inc.

36. Evolution of Managed Services1980s – Data Centers, software development and IT support1990s – Office Service support for mailroom, copy center, faxing, reception, facilities etc2000s – Simple records management and document filing.2010+ – “Needs Based Solutions” - Integrated electronic records and document management, document imaging, Lit support, e-Discovery, offsite storage, staff productivity and cost control. Accounting, A/R collections, equipment leasing and more.

37. Optimization of Core ActivitiesManaged Services provides back-office, on-site support for law firms.Services include: Staffing, management, work process

38. Transition of existing firm employees

39. Records/File management solutions

40. Document imaging, Lit. support and e-Discovery

41. Copying, mail, fax, and general office support

42. Hardware, software & service

43. Accounting, A/R and financing

44. Single, integrated solution to the clients support requirementsOptimization of Core ActivitiesLaw firm focuses on:Practicing law

45. Improving client relationships

46. Gaining new clients

47. Profitable revenue growth

48. Improving productivity of billable staff

49. Producing quality work productWhy firms use Managed Services Improved capital utilization

50. Better leasing and purchasing options

51. Economies of scale

52. Faster collections of A/R

53. Reduce and control cost

54. Labor, Off-Site Storage, Equipment

55. Firms focus on core activities

56. Increase efficiency

57. Produce more work with fewer staff

58. Improve quality, consistency & turn-aroundWhy Firms use Managed Services Free up internal management resources

59. Firm admin management transition from providers to customers

60. Service providers are operational specialist

61. Meet compliance requirements

62. Share risk with service providers

63. Improve service levels

64. Improve user satisfaction3M Benchmark Study Each employee spends 10.5 hrs per year looking for lost dataCase Study: Cost of Non-ComplianceOur “Law Office” Firm has 50 attorneys and 20 Admin Staff at $20/hr.

65. Attorneys bill at $400 per hour

66. Each employee spends 10.5 hrs per year looking for lost data

67. Annual cost of $216,000

68. Monthly expense $18,000

69. Very conservative estimate!Signs that you might need helpSupport staff not dedicated to core law office services.