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LawBiz® TIPS – Week of November 27, 2012

LawBiz(r) newsletter

I watched my alma mater this weekend get beaten in football by a better team. They just couldn't put together a "perfect" game this time. Despite the loss, the team has had great success this year, much better than expected, under a new coach. Both teams, I'm sure, will play in a December bowl game. Sometimes the culture of the organization must change for good results to show. This coach did just that – changed the team culture. I'm sure he will pick up the kids on the team and prepare them for the next game with the same vigor and focus he's instilled in the team all year. And he will prepare for next year by recruiting in the areas of weakness.

When we don't get the client or the project we seek, we need to let go and focus on the next one. That's how we build a successful firm. Our failures help build us. Our successes cannot be taken for granted.

Breakfast with Ed in Providence, RI - December 11th, 7:30-9:30am. Contact me.

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Are You Prepared to Think and Act Globally?

The Lawyer's Domestic Mindset
The legal profession in the United States still has a largely domestic mindset for most lawyers. Practice admissions and jurisdictional requirements are on a state-by-state basis. Most individual and small clients typically have concerns centered in the local community. And lawyers generally don't have to be concerned about a law firm from another country showing up on their doorstep to buy out their practice.

Getting a Global Mindset
In a broader sense, however, the rest of the world has already had more of an impact than perhaps we realize. Investment expansion of Asian, European and Latin American countries means that local lawyers in the United States may be working with companies whose headquarters are in a foreign country. They may even be representing a foreign investor in an effort to buy an American business operation. And even longtime local business clients increasingly require familiarity with customs laws, trade treaties and anti-piracy statutes.

Similarly, a family law practitioner may have clients subject to an international treaty regarding child custody and thus may have to take depositions outside of the United States or may even be subject to the decisions of a foreign tribunal. And as retirement to a location outside the United States becomes attractive to more people seeking a lower cost of living, or just an exotic new locale for their "second season," it raises a host of issues for estate planning, Social Security and pension benefits, and similar concerns.

Globalization Creates New Opportunities for Legal Work
Globalization has already had a negative impact on domestic law firms due to outsourcing, a dramatic influence on legal costs made possible by global electronic technology. Yet, as in the examples noted above, globalization also has the potential to provide more work for the typical firm, provided that firm is prepared to take the work on. The phrase "think global, act local" has become a common refrain of the globalization movement in national economies, and law firms are not immune to its implications. Globalization creates new causes of action, new opportunities for legal work - and new concerns from firms that cannot adjust to global realities. If an offshore company bought your largest local business client, it could create new demand for your firm's services in local courts and regulatory agencies - but not if an offshore company rejects your current rate structure, or finds you unable to lower it through efficiencies from electronic technology. In change, there is challenge and opportunity, and for even the smallest firms, globalization provides plenty of both.

Disaster Preparedness & Recovery Planning
for Law Firms

Disaster Preparedness and Recovery Planning for Law Firms

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- Where legal ethics and disaster planning intersect
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In this issue:

Are You Prepared to Think and Act Globally?

Disaster Preparedness & Recovery Planning for Law Firms - Special Price: $45

Video: Client Rating

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What Clients Are Saying:

"I worked with Ed for a year while working to become a partner in my law firm. With Ed's coaching, I was able to achieve that goal at the end of the year. Through his coaching techniques, Ed showed me how to communicate assertively and confidently with the partners I needed to persuade to vote for my promotion into the partnership and to convince them of my abilities. I can honestly say that without Ed's help, I would not have made such an excellent impression on my partners."


"I'm gradually learning, through my weekly coaching sessions, how to get in touch with what I like to think of as my 'inner Ed.' With 'Ed in my head' between coaching sessions, I have been able to negotiate better fees and attract more work and a higher quality clientele. With Ed as my ally, the stress of being a sole practitioner is greatly reduced."

New York

Ed Poll, LawBiz® Management   |   |   |
©2011 LawBiz® Management. All rights reserved.

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