The Lean Law Firm
Title: How to Increase Profits and Sanity By Running a Lean Law Firm Description: Running a law firm can be tough. Clients are demanding, competition is fierce, and there aren't enough hours in the day to successfully juggle your priorities. If you're running a law firm the way most people run their firms, odds are that you're using outdated techniques that will continue to doom you to an unprofitable, chaotic existence. There's a reason you're not escaping the madness, primarily because law firms have not embraced management techniques that are decades, and in some cases, over a century old. The good news is that we can learn from companies like Toyota and Intel, some of the most forward-thinking business on the planet, and employ techniques from manufacturing companies. In this session, we will learn what it means to be a Lean law firm and employ systems-thinking to see your firm's business from a new perspective. You will depart our session not just with a theoretical understanding, but with practical tips you can employ immediately to improve your firm's financial position - as well as your happiness running your law firm.
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The Lean Law Firm
- 1. Improve Profits and Sanity by Running a Lean Law Firm Larry Port Dave Maxfield
- 2. About Dave Systems Geek. Solo Practitioner. Coffee Achiever. dave@consumerlawsc.com @ConsumerLawSC
- 3. About Larry Software Engineer. Rocket Matter CEO. Little League Coach. larry@rocketmatter.com @larryport
- 4. Most law firms are in survival mode.
- 5. We won’t get anywhere unless we step back and gain perspective.
- 7. It’s 1911 for the practice of law
- 10. Basics: Lean Thinking and Terminology
- 12. Sacred Texts
- 14. Waste (Muda) Any work that does not add value.
- 15. KPI (Key Performance Indicator) Most important measurable numbers that gauge the performance of your firm.
- 16. WIP (Work in Progress) The number of “case units” your law firm is processing at a given time.
- 17. Hey Dave! What is a Case Unit?
- 18. Throughput Rate The number of “case units” your law firm finishes during a given time.
- 19. Average Unit Value (AUV): Average value in $ to your firm, of each case "unit." In a law firm we talk about ACUV - Average Case Unit Value.
- 20. Cycle Time The amount of time a “case unit” spends between the day you accept it formally and the date that case is considered done. Accept case Phase Phase Done CycleTime
- 21. Bottleneck A constraint in the system that causes an increase in cycle time.
- 22. SYSTEMS THINKING 1— THE INCOME FORMULA
- 25. Is a law firm different than a car factory?
- 26. Is a law firm different than a donut shop? N PE.
- 31. 1. You reduce cycle time by optimizing contstraints.
- 33. 2. You reduce cycle time by minimizing the WAIT TIMES you can control.
- 34. 3. You shorten the WAIT TIMES you can’t control by reducing inventory (WIP).
- 35. www.techshow.com #ABATECHSHOW How does this work with hourly billing? This Photo by Unknown Author is licensed under CC BY-NC-ND
- 36. USING KPI’S— WHAT, WHEN, AND HOW TO MEASURE
- 38. Critical Measurements: • Cash Quantity (aka Cash Position) • Cash Pipeline • Collection Percentage • WIP • Average Case UnitValue • Throughput Rate • CycleTime
- 39. Agile management at its core relies on the iteration.
- 40. SYSTEMS THINKING 2— BRINGING YOUR SYSTEM TO LIFE
- 47. LEAN MARKETING
- 48. If you’re not measuring, you’re not marketing
- 49. Marketing Measurements: • New Leads Per Month • New Clients Per Month • Cost-per-Click • Impressions • Click-Through-Rate • Website Metrics
- 51. LOCKING IT DOWN— STANDARDIZATION, WRITTEN PROCEDURES, AND CHECKLISTS
- 54. VISUAL COMMUNICATION, MEETINGS, AND RHYTHM
- 57. The Retrospective: 1) Start 2) Stop 3) Continue
- 59. In Lean, waste is bad and must be eliminated whenever possible, which is where technology can really shine.
- 60. Don’t just adopt tech to tech to adopt tech. How does it help you improve your KPIs?
- 61. Automation
- 63. GOAL SETTING AND THE OCTOBER SURPRISE
- 66. Thank You! Dave Maxfield dave@consumerlawsc.com @ConsumerLawSC Larry Port larry@rocketmatter.com @larryport
- 67. • YOU play the most important part in keeping TECHSHOW exciting. Please complete the Speaker evaluation before you leave. • Reserve the dates! TECHSHOW 2019: February 27 – March 2, 2019
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