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ARTICLE

Law 3.0: The challenges facing legal leadership

Mick LaVelle
Vice President, Small Law Firm Account Management, Thomson Reuters

As an attorney who runs a small firm, you must balance legal work with the demands of managing a business, so you’ve probably got a good understanding of the value of time:

  • The value of spending more time on high-level work that maximizes your firm’s income
  • The value of working efficiently, so you can take on more clients or realize more profit from a retainer
  • The value of having extra hours in the day to follow up on leads, connect with prospects on social media, and take other steps to promote your firm
  • The value of starting your weekend at 5 p.m. on a Friday night

Time saved, time used wisely, and time invested in the future of your practice: They’re key factors to consider when you sit down to evaluate Thomson Reuters technology solutions and the return on investment (ROI) they can deliver for your firm.

Whether you measure time by the billable hour, by your capacity to serve more clients, or by having more freedom for family life or a hobby, maximizing the value of your time will drive profitability and the satisfaction you derive from your work.

Let’s examine a few ways to think about ROI, and look at a few specific legal technologies that can make significant profit impact.