Balanomics?

In the last recession (i.e. way back in the early "aughts"), work/life balance took a back seat at law firms. During that time frame, I sat on the Boston Bar Association's Standing Committee on Work/Life Balance and heard many discussions about how large law firms are unwilling to focus on the issue at a time of economic stress. Will anything change this time around?

It is hard to say; but several organizations have joined together to launch a new initiative called Balanomics. The organizers of Balanomics are taking the position that work/life balance is important in good time and in bad times. The sponsors include Flex-time Lawyers, a number of bar associations, several major law firms, and two corporate legal departments. According to the Balanomics website:

Balanomics™ is premised on the understanding that improving work/life balance for attorneys will minimize the costs and negative consequences that result from loss and lack of productivity of high performers. The Balanomics™ mission is to improve work/life balance, profitability, and productivity in the profession by enhancing the retention, promotion, and professional satisfaction of talented attorneys. The goal is to achieve this by encouraging a work/life culture that emphasizes work quality, flexibility, responsiveness, and accessibility rather than face time.

ABA Rule Change May Ease Partner Movement

The ABA will be considering a change in the Model Rules of Professional Conduct when it meets in mid-February. The change would make it easier for partners to move laterally. In essence, the new rule allows firms to avoid conflicts of interest by screening a lateral partner from matters at the new firm.

This seems to be in keeping with the times though there is no guarantee that the measure will either pass or be adopted by every state. Regardless of the outcome, there will be a lot of partner movement in 2009. My colleague Dan Binstock has written a very good article outlining why this is the case. There is also an article in today's Wall Street Journal about firms tapping partners for larger capital contributions (subscription req.) This seems likely to fuel further unrest. May we all live in interesting times!

Podcast on Traps to Avoid in Selling Professional Services

Nothing revolutionary, but here is a very good summary of how to stop pitching and how to start selling.

LinkedIn Mistakes

I'm still keeping an open mind about LinkedIn. I continue to accept invitations from people who contact me (including many complete strangers); but I'm not really crazy about the user interface. LinkedIn certainly has a lot of potential and I've already used it to connect with professionals I would never have met (e.g. an executive search firm that contacted me wanting to do business together and even an outsourcing professional in India who seems to know a lot about legal process outsourcing.)

Here are a few things to avoid when using LinkedIn. I'm not sure all of them would have made my top 10 list, but they are all worth mentioning. Not on the list is the caveat that you should be selective about accepting invititations to connect.

Balancing Self Promotion and Modesty

While it is okay to tell your superiors about the greatness you bring to your firm, make sure to back up your statements with examples of specific accomplishments. And in these difficult economic times, self promotion should be tempered with a little bit of modesty.

So make sure the partners you work for know about the great result you achieved for a client. But don't go overboard.

Diversity and Work/Life Balance Are Interconnected

The Progam on Attorney Retention has teamed up with corporate counsel to look at the interconnection between increasing diversity and offering flexible schedules to women and minorities (as reported in the National Law Journal).

Hanging Your Shingle

As more associates and law school graduates are finding themselves jobless, starting a law practice is becoming a more attractive option. The ABA Law Practice Management Section publishes some good resources on the subject (click here). If you are in the Boston area and want some help in doing a business plan, a former colleague of mine is organizing a seminar on the topic at Suffolk Law School (click here for more info).

There is also a very good outline on the BCG website on creating a business plan. You can access that here.

Using Pro Bono to Help Find Employment

Pro bono can help you build your skills while you provide legal help to an underserved population. But it may also be a path to paying work.

Staying Focused in Hard Times

This morning, I took my dog Chutney to our local doggy park. It's been snowing here in Boston and unfortunately for Chutney, her owners have been feeling a lot less motivated to take her out lately. While she doesn't have quite the behavioral problems that are afflicting the yellow lab in the movie Marely and Me, it is very obvious that she is much better behaved when she gets attention. We have a much better time together when I am able to really focus on her.

Today, we were the only ones out on the field so there were no other dogs around to distract Chutney (or engage her, depending on your perspective). As soon as we got there, she couldn't wait to get off leash and start running and running. I wasn't distracted by other dog owners and kept focused on her. And to my delight, she came when called and was generally very well behaved.

It was a good reminder of the importance of staying focused. In our crazy 24/7 world of cell phones and blackberries, it is easy to think we can multi-task and get more done in less time. In truth, we accomplish more when we stay focused on one task at a time and do that well. This is particularly true when we are communicating with other people. No one likes to feel that they are only getting 50% of your attention because you are composing a text message. It is even more important to remember this in hard economic times when we all need more support from each other.

New Year's Gratitude List

Instead of creating a list of New Year's resolutions, how about creating a New Year's Gratitude List. The concept here is that resolutions are easy to break (most of us don't get past the first day of the year). If we instead focus on being grateful, our marketing success will follow. The rationale? Resolutions make us focus on the negative (what we don't like about ourselves). Happy people do better in sales. Finally, gratitude makes us worry less and focus more on meeting the potential needs of our clients.

Going Solo in a Down Market

Why would anyone want to start a business in a down economy? As it turns out, there are some very good reasons to do so. Some are articulated here by a career coach (competitors weaken, clients get restless and are looking for bargains, biglaw cuts back). It is also true that your opportunity costs are less (you are not giving up a potentially lucrative job to do something more risky).

I would add that in a down economy, services, office space and other business related expenses become more affordable. There are more "deals to be had". But you have to be able to overcome the paralysis of trying to succeed in the face of a lot of bad news. This is not easy for the typical lawyer (being more oriented towards risk than opportunity). On the other hand, if you can overcome this paralysis, you will be in good company of many successful businesses that were launched in down times.

10 Resolutions for Job-Seeking Success

The Assistant Dean for Law Career Strategy and Advancement at Northwestern University School of Law has 10 great tips for approaching a job search in this miserable economic climate. I might reverse the order and put number ten first (i.e. take care of yourself). I would also add a number 11 (be open to part-time, temporary or project work as a good way of getting your foot in the door--but beware of temp work that comes from an agency; that work is often low level document review work that will not advance your job search).

Setting Goals in the New Year

The holidays are behind us and thankfully, 2008 is over. If you are returning to your office after a nice break, it is time to set some new career and personal goals. If you are trying to decide what some of your goals should be, a senior associate at Jenner & Block, Kathryn Newman, has some very good suggestions (note: her advice is also very relevant for senior associates and partners).

Kathryn makes several good points in her article. First, she acknowledges that life events will dictate how much time we can devote to non-billable activity. She also emphasizes that pursuing interests beyond the practice of law can help you become a better lawyer (e.g. pursuing hobbies).

Of course it is difficult to focus on non-billable activities which have a long term payoff. As human beings, we are not really wired to be motivated by rewards that are far off in the future. One way to do this more effectively is to hire a coach. I use a personal trainer to keep me on target with my workout goals. I have also been coached on career issues and marketing by a number of different professionals.

One of my own goals in the New Year is to start coaching individual lawyers again. Here is an article I wrote on the subject several years ago when my coaching practice was more active. Please contact me if you think you can benefit from coaching support.