What should we expect from our legal practice software now?

Law firms are asking their software providers: What is the best way for our staff to work together as a team on matters and documents in a remote environment? How do we manage accountability of staff when they are out of sight? How can we efficiently work with clients on their documents and keep them updated about their matters? What are best practices for internal office banter in a remote work environment? Should anyone be allowed to broadcast messages to the whole firm? How do you take advantage of software tools to promote your firm’s culture, to enable office socialising […]

Accountants and bookkeepers on the front line

Accountants and bookkeepers are currently the doctors and nurses of your business. Based on the most recent assistance package announced, they will be scouring your financial records hoping to find that your revenue is down by at least 30% compared to last year. The exact details are not clear at this moment but it looks like if your revenue is down by 30%, even for the month of March, then you will be eligible for a huge benefit. This is in addition to the BAS rebates. According to Macquarie Bank: The JobKeeper Payment is designed to help businesses affected by […]

Publicly listed law firms – share prices

The ASX All Ordinaries is down around 29% off its peak in February 2020. For a little over one month it has been in sharp decline but it seems to have found a floor. Let’s take a look at some listed companies that are connected to the legal sector: Comparison of share price as at 26 March 2020 compared to 20 February 2020. Legal Services Shine Lawyers: share price down 21.7% Slater & Gordon: share price down 26.1% Australian Family Lawyers: share price down 37.9% Intellectual Property Services IPH Limited: share price down 30.3% QANTM IP: share price down 24% […]

LawTap Announces $250,000 COVID-19 Stimulus Package for Small Law Firms

LawTap, which provides appointment booking and scheduling for law firms, is proud to announce a $250,000 COVID-19 stimulus package to support small law firms across Australia, the United Kingdom, and the United States impacted by the COVID-19 pandemic. Funding is available immediately. “In the past three weeks, LawTap booking data shows that the average small law firm has experienced a 43% increase in ‘socially distant’ appointment options – this means phone calls, Skype, Zoom, and where appropriate, appointments at the client’s location,” said LawTap CEO and co-founder Seamus Byrne. “We know local communities rely on small law firms to solve […]

Real Estate Institute says no more public auctions or multiple party viewings

Update: Prime Minister announces ban on public auctions and open homes “Real estate auctions and open house inspections – in particular, open house inspections – that cannot continue.” The Real Estate Institute of Australia is now calling on all real estate agents across Australia to make significant changes to the way they conduct their business particularly in relation to house inspections and the conduct of public auctions. Past practice with open homes and public auctions needs to cease. Adrian Kelly, REIA President: We need to take the Covid-19 Virus seriously. The deliberate organising of a gathering of people by a […]

Prospects for small general legal practices

By Peter Frankl. What a shitty situation this is. While there may be things to be thankful for at the moment, there is nothing to be happy about. It is a shitty situation. However, life goes on and business goes on. I believe that if your livelihood depends on legal services, particularly in a small general legal practice, then this is something to be thankful for. Starting with the most obvious: Wills and Estates, which is the cornerstone of so many small practices. This is surely one of those areas of law that is largely disconnected from economic fluctuations. Nothing […]

Your team on a messaging platform – a one-year veteran’s greatest learnings

By Peter Frankl. I’m a one-year veteran of Slack messaging. The experience is not what I thought it would be. The app encourages more communication than in a physical office The people that you work with on a day to day basis are only one click away. A messaging app actually brings people closer to you than would be the case in a physical office. You are naturally hesitant to walk over and interrupt someone you can see is busy. On the other hand, with a messaging app, everyone assumes everyone else is busy but that doesn’t stop anyone from […]

Maybe this time – online property auctions – with a new app

Now may be the time that online property auctions actually become a reality. There have been many attempts to make it happen over the years but none have gained any significant traction. It is not only the demand from buyers that has changed, avoiding personal attendance at auctions, but it is also an understanding of why previous attempts have failed to make an impact. A small Irish startup called Offr, that launched late last year, may be the one to make online property auctions mainstream. Its point of difference is that it is putting the technology in the hands of […]

Agonising over how lawyers charge for their services

Is there any other industry or sector that agonises as much as the legal sector over how it charges for its services? Here are some of the methods of charging that are considered to be either bad, old fashioned or immoral: Time recording is probably the winner in all three categories. Oddly, it seems to be the method most accepted by clients. Subscription services are criticised because they over-promise and under-deliver. Fixed fees are considered extortionate. No win no fee is considered misleading. Contingency fees mark the end of the legal world as we know it – in Australia.  Then […]

Money doesn’t motivate: 3 psychology-backed reasons that prove it

By Trevor Glass. Do you believe the more your employees are paid, the more motivated they will be? This has been the accepted notion for ages. Now, however, with more studies being conducted, the research suggests that motivation is far more complex than we first thought. Compensation plays an important part in that, but even the employees that are most in favour of the link between pay and motivation agree pay isn’t everything. A higher salary won’t make the duties more pleasurable or nurture a newfound fondness for work. 1. Control leads to rebellion Psychologist B.F. Skinner discovered the operant […]