Turning Legal Services into Products
August 6, 2014•36 min
Lawyers often focus on how they can use technology to improve the efficiency and quality of their legal services. However, technology has additionally started to change what people in other professions provide to their clients, even to the point of changing the meaning of "services." Professionals are now creating products that provide revenue in the form of royalties, thereby exceeding what can be made in billable hours. These include books written about new forms of technology, tax guides, answers to common questions, convenient apps, and even software. Is this a "Big Idea" that lawyers should also be considering as they think about the ways they might use technology?
In this episode of the Kennedy-Mighell Report, Dennis Kennedy and Tom Mighell discuss how lawyers might begin "productizing" services, some ideas about how to create successful products, and the legal and ethical implications of providing this information. Kennedy explains that products such as books or apps providing tips on marketing, finance, general management, or technology are valuable to lawyers. Most often, the lawyer or firm has already done the research required, and simply needs to create a means for selling it. Kennedy recommends several ways lawyers should get started: analyze what other lawyers are doing successfully, look closely at the strengths within your firm, and learn by trying certain products even though they might fail. Mighell points out that the concept of creating products out of your firm is not a simple process, rather it requires a lot of thought and should not be gone into as a whim.
After the break Kennedy and Mighell ask anyone who thinks they might be the right candidate to write a book providing information on technology for lawyers to reach out and let them know. They emphasize that many lawyers underestimate their own level of experience and offer to provide subject ideas. Tweet @DennisKennedy and @TomMighell or click the link below to download a proposal form. As always, stay tuned for Parting Shots, that one tip, website, or observation that you can use the second the podcast ends.
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