Practice News

Asked and Answered By John W. Olmstead, MBA, Ph.D, CMC Q. Our firm, a seven attorney personal injury firm in the southwest, seems like we can never get to the next level financially. Do you find that excessive overhead (expense) is the major problem for law firms? A. Not really. In fact, in many cases I find that law firms should be making larger investments in their future and spending more money. Often monetary and time investments in marketing, talent, and technology are insufficient in many firms. The problem in most firms is insufficient leveraged fee revenue. In other words - many small firm practitioners - only think in terms of whether they have adequate work to keep themselves busy - they do not think in terms of being a net exporter of work so they can keep themselves busy plus two or three other attorneys and or paralegals. A well leveraged practice is what takes you financially to the next level. In reality - more marketing is needed - to create a sufficient volume of work to support this leverage. Once this is accomplished - attorneys must learn how to manage and supervise others - and the compensation system must shift emphasis from personal working collections to responsible (billing attorney) collections. John W. Olmstead, MBA, Ph.D, CMC,  is a past chair and member of the ISBA Standing Committee on Law Office Management and Economics.

The Special Supreme Court Committee on Illinois Evidence will hold public hearings on proposed new rules codifying Illinois evidence law at the following locations:

• Tuesday, May 18, 10 a.m.: Supreme Court Building, 160 N. LaSalle, Room C-500, Chicago
• Thursday, May 20, 10 a.m.: Administrative Office of the Illinois Courts, 3101 Old Jacksonville Road, Springfield

The proposed new rules are available on the Supreme Court website. The Special Supreme Court Committee on Illinois Evidence invites public comments on the proposed rules. Written comments should be submitted by Tuesday, May 4, 2010, to: Special Supreme Court Committee on Illinois Evidence, c/o Administrative Office of the Illinois Courts, 222 N. LaSalle Street, 13th Floor, Chicago, IL 60601

One benefit of being an ISBA Mutual insured is the practice-oriented information the company pushes your way. After all, they want you to be the best lawyer you can be. Good for them, good for you. Which brings me to this article by Joe Marconi, which appears on the Mutual's Web site. It's a short primer on appealing administrative rulings, a process which, as Joe notes, "often confuses even the most experienced attorneys and may result in missed opportunities for redress." Read the article.

Asked and Answered By John W. Olmstead, MBA, Ph.D, CMC Q. We are a 17 attorney IP firm in the Southwest and I am the managing partner. We are having a lot of problems with poor attitude in the office, inadequate production, employee turnover, and we have recently lost a few key institutional clients. I believe that the core of our problem may be poor communication skills on the part of our attorneys. What recommendations do you have? A. Poor interpersonal communications is often the root cause of many of the management problems that arise in law firms.