How do you
make LPM stick and keep sticking? I ask Toby Brown, Director of Strategic
Pricing & Analytics at Akin Gump Strauss Hauer & Feld LLP, based in
Houston, that very question.
Toby:
For LPM to be successful within a law firm, I see two preferred conditions.
The first is important, the second is necessary.
First – LPM needs to be fully embedded in the practice groups. A
generalized LPM resource will not be close enough to the needs of the lawyers
to able to respond to them effectively. This day-to-day understanding of the
changing needs for each practice group enables the PM to stay tuned in to the
demands for each engagement, and to adapt as the needs change.
Second – LPM needs to be client-facing to the point that it is
client-specific connected. It has been my experience that many really good law
firm ideas wither on the vine without client involvement. However, once a
client is involved, the success rate jumps dramatically. Most lawyers want to
adopt better practice management methods, but without the direct needs of a
client driving adoption, those ideas sit on the sidelines waiting forever for
the right opportunity. The best-case scenario for success is when the client
demands such a resource. But law firms do not need to wait for that request and
instead should be proactively offering this to clients. Some firms are already
employing this approach with great success.