Back in the good old days, I used to bill by the hour, just like every other lawyer. I had a simple retainer agreement with my clients which essentially provided that they agreed to pay my hourly rate for all of the hours that I spent on their matters.
When the work was done, I would send my bill to the client calculated by multiplying the time spent by my hourly rate. Then my client would pay the bill. Life was simple.
“I am happy because I’m grateful. I choose to be grateful. That gratitude allows me to be happy.”
~ Will Arnett
The other day I received a private message from a lawyer who I have never met in person. She expressed her appreciation for my contributions to the profession in my retirement and did so in a manner that was warm and sincere. I practically blushed when I read it. She made my day.
I came across a lawyer the other day who makes mistakes in his communications with clients and the other side. None of the errors will likely land him in too much trouble. They may even be excusable based on the theory that spending too much time trying to be ‘perfect’ is unhealthy and expensive for clients who are being billed based on the amount of time spent on the matter. But they are mistakes nonetheless, and they could all be caught with a bit more thought and proof-reading.
I believe that lawyers should not compete based on price. I tell this to my mentees, and sometimes the response is, “that is easy for you to say from a cruise ship in the Pacific. I’m struggling to get files in the door and pay my rent.”
I also think that new lawyers should avoid practicing in areas that have become commodities and are particularly fee sensitive, such as residential real estate. My young friends tell me that they have to get cash in the door and that doing some real estate files is the best way to do it.
They say that those who do not learn from history are doomed to repeat it.
When I started practicing law in 1981, I went to the office six days a week. Sometimes six and a half. I never used my computer at the office, mainly because I did not have one. Nor did anyone else.
I like eating out, but I don’t always like what is on the menu. I have been known to explain to the server that I consider a menu to be merely an indication of which ingredients the Chef has in the kitchen, together with samples of some of the ways that they can be assembled. With that information, I often request that they be assembled differently. Lose the beets from the beet salad; lose the feta cheese and replace it with goat cheese; add the spicy pecans from another salad, and so on.
I like to eat a bespoke lunch, and I expect that it may cost me a bespoke price.
I stopped reading the news this week. It has been affecting my mental health. No more scrolling from CNN to Associated Press to Apple News to Google News to National Post, to Jerusalem Post. I am even trying to scroll past posts on Facebook and LinkedIn which address hate around the world.
Those of you who have been following this series know that I said that Part Seven was the final article in the series. It turns out that I lied.
The purpose of the series is to set out the questions which Articling Students and new Associates should figure out about their firms when deciding whether to stay there over the long-term.
This time it is about the Chief Marketing Officer (“CMO”).
I was speaking to a newbie lawyer the other day. I am going to call her Sue, which is definitely not her real name.
Sue is an intelligent young woman, but like many of us when we are starting out, is perhaps just a tiny bit naïve.
Sue told me that she was applying to a firm in a community where she lives in eastern Canada. To prepare for the interview, she checked out the firm’s website. She was delighted to learn that the firm prides itself on recognizing the importance of work life balance.
Hey law firms! Have you given much thought to your partners approaching retirement, and calculated what their retirement may cost you?