where did it all go wrong? the rise and fall of the personal injury lawyer
TRANSCRIPT
Where Did It All Go Wrong?: The Rise and Fall of the PI Lawyer
Jeff Zindani LLB , MA Solicitor and Legal Business Strategist
Meet Jack Ross and his team at Ross Lewis and Coulson Solicitors.
We had Good Holidays
We could afford private schools
Guilty Pleasures. But well earned!
What’s wrong with a drink or two!
The battle against the insurance villains was worth it.
They weren't too bad. At least we could buy cases and keep the firm going.
Yes, we had to deal with these people to get paid but we always found a way.
What Do Judges Know about Costs?
I never saw it coming…
“The organisations likely to suffer the most are those with the delusion that tomorrow will be like
yesterday” Peter Drucker
Don’t Press The Button!
But I don’t know what to do !
Top 10 Tips to Survive
1. Stop the Lawyer Victim Syndrome-yes its going to hurt but move on.
Top 10 Tips to Survive
2. Put Away the Ogden Tables and Look at the New MetricsNo more hourly rate x time and success fee.
Top 10 Tips to Survive
3. Time To Exit?Planned Abandonment is a Business Strategy. If you didn’t do PI today, would you go into it tomorrow?
Top 10 Tips to Survive
4.Define Your Business Model• CD’s V Downloads?• High Street v Online Shopping?• Silo or Boutique?
Top 10 Tips to Survive
5.There is Life After Referral Fees.• You are going to have work harder. Its called
business development and marketing.
Top 10 Tips to Survive
6. Reengineer Business Processes• Do you have an up to date
case/document/knowledge management system?
• Stop making cars by hand because you wont get paid if charges are based on fixed costs.
Top 10 Tips to Survive
7. Lead Change by a Clear Action PlanRestructuring and Re-Engineering wont happen without a clear action plan.
Top 10 Tips to Survive
8. Create a New Culture at the Firm Based Upon Fixed Costs. This will take time but will pay dividends.
Top 10 Tips to Survive
• 9. Unwind Liabilities to Funders and the Bank. WIP will largely disappear for the bulk of PI work.
Top 10 Tips to Survive
10. Leadership, Leadership and Leadership.This is the driving force behind any change.
Thank You
• Any questions or queries don’t ask Jack but let me know : [email protected]
• See my blog at jeffzindani.com• Or go to Linked in • Watch out for my new book with Prof Dominic
Regan : Surviving Jackson : A Practice Guide for Change