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An old Mixergy episode from around 2009-10 was a legal software firm. They were having lots of sales resistance until the crisis hit, and a lot of large corpor
by tacon 4y ago
An old Mixergy episode from around 2009-10 was a legal software firm. They were having lots of sales resistance until the crisis hit, and a lot of large corporations moved their legal work in house to save money. That customer segment was product/market fit, and they thrived. Today we are entering a downturn, more legal work will move in house, and efficiency is rewarded. You can be assured that if that legal work eventually moves back to outside counsel, it will be very hard to bill more hours than the customer knows the work takes with modern tools.
- gnicholas 4y agoHaving worked as a lawyer from 2007 to 2014, I watched the legal landscape change during the Great Recession. Clients realized that firms were having partner-track associates bill thousands of hours on document review, when it could be done more cheaply/efficiently by contract lawyers (who billed at a fraction of the cost, and could be hired on a project basis). Clients pressed for fixed billing arrangements to save money, and law firms obliged because their books of business were shrinking. But then things came roaring back, and the purse strings loosened again. We may be in for another contraction, and if fixed-fee arrangements come back that would be a good thing for legal efficiency.