November 2022

For decades, I’ve helped my clients change. Now it was my turn.

For as long as I can remember, I’ve wanted to clone myself—to create a twin that could bring my wish list to life.

Although conventional science has fallen short (perhaps a good thing), an unexpected catalyst became my genie in a bottle.

The pandemic.

Covid-19 shut down the typical version of David Freeman, the one who ran retreats, conducted live training, and provided business development and leadership coaching. It all came to a screeching halt when law firms hunkered down and delayed investing in my services.
Continue Reading A better way to teach business development (342)

Digital transformation was largely a buzzword until I saw what David accomplished during the pandemic.

For this week’s feature post (342), Legal Evolution is pleased to welcome guest contributor David Freeman, a renowned business development consultant who has trained and coached well over 10,000 lawyers in over 200 law firms worldwide.

I have known David for several years.  After reconnecting this summer, David walked me through some of the key features of his Lawyer Bookbuilder® online course.  Much to my delight, it was a fully productized version of 30 years of David’s best-in-class business development training condensed down to 4+ hours of video content, excluding exercises, homework, quizzes, worksheets, and many other downloadable practice aids.

Although David’s course is worthy of promotion, it’s equally noteworthy how a seasoned consultant who graduated from law school in the 1980s successfully engineered his own digital transformation.  Prior to the pandemic, David Freeman was the legal profession’s most successful “bespoke” BD consultant.  Now, two years later, he has a fully polished online course that arguably delivers better, more cost-effective results than David Freeman live.  How, exactly, did this happen?
Continue Reading Guest contributor David Freeman (341)

Yale has a different decision set than other law schools.

Yale Law School’s $1.2 billion share of the Yale University endowment provides approximately $63 million in operating funds, which translates into $106,000 per student, though this amount appears to be headed up due to the 40.2% increase in Yale’s endowment in 2021. See “Yale endowment earns 40.2% investment return in fiscal 2021,” Yale News, Oct 14, 2021; Evan Gorelick, “Yale’s endowment, explained,” Yale Daily News, Oct 22, 2022 (discussing Yale endowment’s 5.25% target payout and policy of smoothing returns over multiple years).

To be clear, these are the funds available before Yale Law collects its first dollar of tuition.  Nonetheless, as the top-ranked law school in the US News rankings for more than 30 years, Yale has a superabundance of highly credentialed students who would be willing to pay or borrow the current cost of attendance. For the 2021-22 admission cycle, Yale admitted only 5.6% of applicants; of those admitted, 81% enrolled, making Yale the most selective and elite law school in the nation. See YLS, “Statistical Profile of the Class of 2025.”
Continue Reading The dollars and math behind Yale Law’s withdrawal from USN rankings (340)

To break from the pack you have to be willing to break the rules.

A few years back, together with colleague David Parnell, we interviewed and surveyed 68 AmLaw firm leaders on their firm’s approach to strategic planning and their responses to 18 specific questions in preparation for a conference presentation we were delivering.

The overall results were startling in that despite months of preparation and thousands of dollars invested, less than 10% of these leaders were able to confidentially admit that they might have implemented “ALMOST all of their last strategic plan.”  Our presentation at the time was covered in Law360:  “Your Biz Strategy: Where Time and Money Go To Die” and the Global Legal Post: “Firms Spending Millions Writing Biz Plans That Just Gather Dust.”

We regrettably had to inform a room full of attendees at a New York Summit on Law Firm Strategic Planning that our research indicated that far too many firm leaders suffer an infliction that goes by the technical term of seeing SPOTS, with SPOTS being an acronym for Strategic Plan On the Shelf!
Continue Reading 10 fatal traps that explain why law firm strategic plans are DOA (339)

Legal technology is slowly becoming core to the legal business. It’s time to commit to a cross-functional team approach.

In the legal profession, attorneys with specialized subject matter expertise (e.g., discovery, trial work, corporate transactions, appellate, regulatory, and many others) provide tremendous value to their clients.  Similarly, technologists supporting the legal profession typically include accomplished programmers, skilled engineers, application experts, integration specialists, security ninjas, and the like. In both disciplines, specialized expertise is incredibly valuable.   

The premise of this post is that individual capabilities and excellence (either legal or technical) standing alone are not enough to ensure long-term, sustainable success.  No superstar technologist or lawyer is equipped to do it all, as there are too many specialties and functional roles which need to be filled.  Rather, a better approach is to construct team-based, cross-functional units that offer greater operational efficiency while building in layers of redundancy that reduce the potential for surprises, errors, or disruption.  Cf Post 323 (Patrick McKenna’s “rules of engagement” for high-performing legal teams).
Continue Reading The expanding role of technology in the law firm business model (338)

A. By embracing Adaptive Leadership principles.

[Editor’s note: Scott Westfahl and Anusia Gillespie worked together at HLS Executive Education and have been collaborating ever since.  Drawing upon Scott’s expertise in Adaptive Leadership and Lawyers Driving Change and Anusia’s perspective across organizations, their most recent effort was an online panel titled “The Resilient GC: Rolling with Disruption.”  Today’s NewLaw Fundamentals column summarizes the top five takeaways from this session, which strongly reinforce the message that NewLaw methodologies and frameworks are becoming core to legal department strategy. wdh]

Shannon Thyme Klinger, Terry Theologides, and Dev Stahlkopf

In The Economist’s recent General Counsel US Insight Hour, “The Resilient GC: Rolling with Disruption,” we heard from Shannon Thyme Klinger, Chief Legal Officer and General Counsel of Moderna, a biotechnology company that went from $800 million US in sales in 2020 to more than $18 billion US in sales in 2021; Terry Theologides, General Counsel of Fannie Mae, a government-sponsored mortgage financing enterprise with $22 billion US in annual revenue; and Dev Stahlkopf, Chief Legal Officer and General Counsel of Cisco, a digital communications technology conglomerate corporation with $52 billion US in annual revenue.

What did these three leading General Counsels from three disparate industries have to say about thriving as the clock speed of change accelerates around them and their companies?
Continue Reading Q. How do GCs thrive amid disruption? (337)