Profit from Legal

$134.00

Noel Bagwell is an award-winning business attorney who owns and operates Executive Legal Professionals, PLLC (“ExecutiveLP®”), a boutique virtual law firm in Nashville, TN. ExecutiveLP® provides startup, general counsel, and legal operations function install services to businesses.

Bagwell has spoken at summits and corporate events, such as the dLaw: Disruptive Innovations In Law Virtual Summit (2020); has contributed hundreds of pro bono hours to the U.S. Dept. of Defense’s and U.S. SBA’s Boots to Business program; and has contributed to publications such as the Nashville Bar Journal. His passion for improving client experiences and the way attorney-client relationships are structured is evident in his dynamic presentations and impactful writing.

In this course, Bagwell holds forth on the legal profession’s slow rise to the challenge of adapting in order to survive in the Information Era. He posits that lawyers, however, must change not only the way they think about their jobs and the way they serve their clients, but their standard business model. In his view, the sun is beginning to set upon the billable hour, and he opines about its replacement.

Bagwell believes business clients ought to expect every part of their business to make the whole more profitable. Historically, however, legal support has been seen as a cost center. In this course, Bagwell discusses the possibility of, and principles for, transforming a business’s legal support from a cost center to a profit engine.

Legal Operations functions have grown 24% in the last two years. Now, more than 81% of legal departments have legal operations. When legal operations and legal support providers use legal Key Performance Indicators (“legal KPIs”) to establish performance base rates, set better goals, and track and measure outcomes, Bagwell believes, the ability to measure legal profitability for a business becomes possible.

In this course, Bagwell will share the what and the why of Profit from Legal™, a legal operations function install service designed around the use of legal KPIs. Bagwell will also provide insights, resources, and tools for starting to improve legal profitability for business clients.

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Event Details

Webinar Date

Webinar Time

Course Type

Course Instructor

Noel Bagwell, Esq.

Original Date Of Course

General Credits

1

Course Description

Noel Bagwell is an award-winning business attorney who owns and operates Executive Legal Professionals, PLLC (“ExecutiveLP®”), a boutique virtual law firm in Nashville, TN. ExecutiveLP® provides startup, general counsel, and legal operations function install services to businesses.

Bagwell has spoken at summits and corporate events, such as the dLaw: Disruptive Innovations In Law Virtual Summit (2020); has contributed hundreds of pro bono hours to the U.S. Dept. of Defense’s and U.S. SBA’s Boots to Business program; and has contributed to publications such as the Nashville Bar Journal. His passion for improving client experiences and the way attorney-client relationships are structured is evident in his dynamic presentations and impactful writing.

In this course, Bagwell holds forth on the legal profession’s slow rise to the challenge of adapting in order to survive in the Information Era. He posits that lawyers, however, must change not only the way they think about their jobs and the way they serve their clients, but their standard business model. In his view, the sun is beginning to set upon the billable hour, and he opines about its replacement.

Bagwell believes business clients ought to expect every part of their business to make the whole more profitable. Historically, however, legal support has been seen as a cost center. In this course, Bagwell discusses the possibility of, and principles for, transforming a business’s legal support from a cost center to a profit engine.

Legal Operations functions have grown 24% in the last two years. Now, more than 81% of legal departments have legal operations. When legal operations and legal support providers use legal Key Performance Indicators (“legal KPIs”) to establish performance base rates, set better goals, and track and measure outcomes, Bagwell believes, the ability to measure legal profitability for a business becomes possible.

In this course, Bagwell will share the what and the why of Profit from Legal™, a legal operations function install service designed around the use of legal KPIs. Bagwell will also provide insights, resources, and tools for starting to improve legal profitability for business clients.

Principles

  • The Billable Hour: The King Is Dead. Long Live the King.
  • Meet the New Standard: Legal Profitability and other KPIs
  • Game Changer: How Legal KPIs Change Everything
  • The Profit from Legal™ Method

Syllabus

The Billable Hour: The King Is Dead. Long Live the King.

  1.  Why is the sun setting on the Billable Hour?
      • Time-for-Dollars Trading Makes Less Sense in the Information Era
      • The Billable Hour’s Perverse Incentives
  2. Why will value-based billing become the cornerstone of legal profession’s business model?
      • Data-driven Enterprise
      • The Rise of Legal Operations
      • Client Demand for the ROI Conversation
      • Meet the New Standard: Legal Profitability and other KPIs
  3. Legal Key Performance Indicators
  4. Legal Profitability: One Ring to Rule Them All
      • Game Changer: How Legal KPIs Change Everything
  5. The Information Era’s Business Ecosystem
      • Demand for the ROI Conversation
      • Data-Driven Operational Improvement
  6. The Business Attorney-Corporate Client Relationship
      • The Ethics of Fees
  7. When is a fee “earned”?
  8. When is a fee “reasonable”?
  9. Minimizing Uncertainty
  10. Maximizing Availability
  11. Subscription-driven Service Models for Business Lawyers
      • Delivering on Potential / Capacity Improvement
      • The Profit from Legal™ Method
  12. New Value-Creation Opportunities
      • Asset Development
      • Asset Protection
      • Cultivating Good Luck (Luck = Preparation + Opportunity)
  13. New Stress Management Solutions
      • Managing Internal Relationships
      • Managing External Relationships
  14. Risk Management
      • Forecasting & Black Swans
      • Accounting for Regression to the Mean
      • Using Formulae and Algorithms as part of Legal Risk Management
  15. Creating the Profit from Legal™ Business Ecosystem — Creating operational environments that make it possible for legal support improve business profitability.

Instructor

Noel Bagwell, Esq.

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