Showing posts with label Commercial Awareness. Show all posts
Showing posts with label Commercial Awareness. Show all posts

Thursday, 17 November 2011

The grumpy young men; the anti-social media movement for trainees



Miss TS kinda cracked with all the hatin.......


As some of you might be aware from my (slightly frustrated) tweets, my firm has recently embraced* social media.

*read introduced in a stumbling, halting series of initatives, not unlike like bambi standing up.

The trainees have been involved from the start, not through choice but through the powers that be assuming young people have an affinity for all things technology. Born in the digital age, we use and understand technology without thinking, it is second nature to us. Or so they thought.

It turns out, I am the only trainee tweeter and, I am sad to say, the only trainee who had ever read a law blog. Shock horror! I thought perhaps this may have been due to the previously onerous social media policy, which was very heavy handed and likely to put off any newbie from going anywhere near. Or perhaps like me, the trainees secretly blog and tweet but didn't want to admit it.

In fact this was far from the case. Half the trainees are social media sceptics.

I know that most of those who slate social media have never used it; they simply don't understand the uses of twitter or linked in. A lot of sceptics convert and rave about social media once they have learnt how to use it. Personally my knowledge and understanding of the law has been widended through twitter discussions and blogging has hugely improved my writing skills (if I do say so myself, I think I write a damn good blogpost!). Even if not used to engage, twitter delivers a wealth of relevant, topical and timely information to your screen just by following the right accounts. Several snippets I picked up from client tweets gave my supervisor an edge whilst talking to the client in question, information which was not available through any other medium.

The trainees are not converts in waiting - they have actively tried social media and dismissed it. They feel it is a waste of time they could be using elsewhere and they found no value in the information disseminated. Even linked in didn't interest them as they had no client contacts to link in with.

In particular I have been stumped by the response to one idea from marketing; a trainee blog; hosted by the firm but run by trainees. The content will be written from a trainee point of view and more personalised than the client briefing style blogs the firm currently hosts. The target audience is those looking for training contracts initially but, provided it is done well, could very possibly have a wider appeal. On a more selfish note, a trainee blog would be a good personal marketing tool both internally and externally as, unlike the articles that many of the trainees write for their supervisors or sector groups, we would take the credit. It would give us something to push through social media and, of course top of the list, something to put on the CV.

Unfortunately, what I thought would be an easy win has turned out to be a bit of a nightmare. Every spearhead meeting I would organise with the trainees, the sceptics would turn up and slate the idea. I actually had one trainee tell me 'there was nothing interesting about his job to write about'. Lucky for him, there was no partner in the room! Despite the proposed discussion topics for the sessions (e.g. post ideas, partner interviews and the infamous naming meeting that lasted 2 hours) they manage to turn the conversation back to their lack of belief in the idea. What iritates me most about this is that it isn't compulsory; they turn up to the meetings out of choice!

All in all I am flabbergasted (yes, it merits the use of that word) that trainees could be so narrow minded. I am not suggesting that everyone should be forced to use social media, not at all. However, actively shooting down a new iniative because you don't see the merit in it and aren't willing to try shows lack of vision. Law firms are going to have to evolve to survive; how are they going to act if they are so opposed to a little optional idea?

I hope, trainees to be, that you will be more open to innovation when you become trainees!

Tuesday, 11 October 2011

A bit of a rant: how not to be a good trainee

These past couple of weeks have been very busy for me in a marketing sense. There was a BIG tender push (which we won!), website design plus three client functions. This, coupled with a new, very demanding, seat has swamped me with work to the point of overload. So much so that I had to call in one of the new trainees to take some of the work off my hands.

Now, the new trainees have only been in the office for 6 weeks. so I wasn't expecting miracles. I handed over the easier bits that needed doing - a bit of client research, article ideas - the type of marketing that trainees usually get involved with. Unfortunately I didn't get the quality level I was expecting.

My instructions hadn't been followed, the research was no more than cut and paste from the client's website, the article ideas were the headlines from BBC news with no legal relevance, and, most irritating of all, there were typos (seriously, the queen does not award 'OBC's!) Normally, I wouldn't critisize a trainee, after all, I am trainee too and we are all learning. However when the work given to me is of such poor quality or of such little use that I have to do it again and in less time, I think I am vindicated to have a little moan!

I understand that marketing isn't every one's cup of tea (although this really won't wash as an excuse with me) and when you are a new first year it can be a bit difficult to  appreciate what exactly is a good idea for an article. What bugs me is the lack of effort this trainee put in. He is bright enough not to think it was of an appropriate standard and he asked for work so wasn't pushed for time. It therefore, in my mind, can only be pure laziness or sloppiness, both of which are not qualities that trainees can afford to display.

This may seem a little bit harsh but at the end of the day we are all competing against each other and the others certainly won't be making those kind of mistakes. It shouldn't matter that it was a junior that asked for the work, negative feedback will get back to those who make the big decisions. Trainees really don't want to get a reputation for not delivering or for poor results. A bad reputation is much more likely to stick than a good one and far more difficult to shift.

The other issue is that I won't be asking that trainee for help again unless there is no other option. Given that I often have sector work going spare which can become high profile (did I mention we had won THE tender?) he has really shot himself in the foot. Trainees can't afford to burn their bridges like this, two years go by in a flash and every opportunity will count come recruitment time.

The one thing that I keep in the back of my mind to keep performing is that I am lucky to have a training contract at all. For every one trainee at my firm, there were at least 10 disappointed candidates and I'm sure this figure is much bigger for larger firms. I think it is insulting to the trainees-in-waiting who were turned down to give me a chance if I don't make the most of it. There are graduates literally begging for contracts, I cannot understand why anyone would want to waste theirs.

So! Rant over! But take note trainees-in-waiting, don't make the same mistakes this trainee did.

Saturday, 26 February 2011

Demisting the windows: Commercial awareness and how to get it

Commercial awareness has become almost the holy grail of on the list of potential attributes. It is on nearly all training contract application forms one way or another and, perhaps unsurprisingly, commercial awareness and how to show it is the number 1 question I have been asked by trainees-in-waiting. As such an integral quality for successful candidates, you would expect it to be drilled into to students, like advocacy skills or money laundering. This doesn't appear to be the case: I have not come across a 'commercial awareness' topic on a degree or LPC. Bringing the topic up with the lawyers at my Firm resulted in a lot of waffle and speaking in circles without really defining the issue. Conclusion: no-one reeeally knows what it is......

Put simply 'commercial awareness' is a buzz word (dare I say it, concocted by the marketing department in the sky - also responsible for 'know your client' and ) for a business common sense. In today's legal market, especially with the legal services act on the horizon, lawyers need to do a lot more than just law. Just doing the work is not enough anymore and forms are realising this fairly quickly. Business sense is not traditionally something the legal profession are particularly renowned for and it the more seasoned in the profession can be quite stubborn to coerce into this way of thinking (as an example, our well established private client department have had to employ a customer relations director as some of the more mature fee earners refuse to do any work away from their desks. A client meeting at the client's office - out of the question!). So, firms are making sure the new recruits at least are on board.

A good way to identify what it is all about is to break down how lawyers make money (after all, being commercially aware has to have something to do with money, right?). To make money, the lawyer must have work, he must complete this work in such a way that his fees exceed his costs and he must ensure those fees are paid. Part 2 is about the work and how it is done. Part 3 is credit control, again something fee earners are not that good at - talking about money is almost a taboo amongst many of the legal profession. It may baffle you that lawyers are often reluctant to chase up payment but when you get into practice you will see it all too often. For this reason I am sure the concept of billing and fees will be the subject of a very early training session for new trainees, so I won't cover it here. (Tip - in an interview, if you get the opportunity in business context, mentioning that it is important for lawyers to get their fees paid may get you extra brownie points. It won't get you the job but if you are doing everything else right it could shift the balance in your favour). Step 1 is what we are talking about.

This may be a surprise to some lawyers but the work doesn't arrive on its own. It won't magically appear in your Head of Department's hands, complete with it's own file and briefing note. You don't keep clients just because they gave you work once and multimillion pound instructions don't walk through the front door and plonk themselves on your desk. Trainees-in-waiting take note - understanding where the work comes from is what commercial awareness is all about.

Work is generated from two streams: existing and new clients. These work streams are different and effective management of both is required to maintain sufficient work flow. Existing clients need good service - after all, if your lawyer isn't giving you what you want, you will go somewhere else. Equally, if a firm you have tried once really impressed you, you are going to keep giving them work. The client relationship is paramount. This may seem simple but as Mr Bizzle has experienced it doesn't always translate into practice.

This is only half the battle. A great client care system will retain clients once you have worked for them but if potential clients don't know you exist it doesn't mean much.

A law firm needs to have a presence in the market, its lawyers need to network, tender and generally schmooze it's way into instructions. Essentially it needs to have a good marketing strategy. Often law firms will have a marketing department that governs this but lawyers need to know how to promote themselves and their firms so that opportunities aren't missed. It is often described as 'winning' new instructions. This is a good way of looking at it - it is a competition and should be approached in that way. What can you do to beat everyone else to the finish?

Identifying (and grasping!) opportunities is also important. As an example (and totttalllyyy blowing my own trumpet here) after a chat with a fellow trainee who comes from a family of GPs, I realised there was a gap in the legal market in the South West following the NHS reforms. I did a bit of research and presented the idea to a partner who agreed. This was taken to the next step and now there is going to be a marketing drive at NHS bodies. Yay for me! (I can't take all the glory; our projects team had already got a couple of instructions, they just hadn't thought to involve other departments. Cross selling in my Firm is notoriously terrible.)

Keeping abreast of developments is a big component of getting new work. If a law firm can get a reputation in an area before anyone else they are more likely to be the go-to-firm for that type of work. This requires an eagle eye on the market and an understanding of how you fit into it. BINGO! Commercial awareness!

Now you know what it is, you just have to be able to show it. Not as difficult as it sounds. Think about what you do every day and you will already be using these skills. Bar staff: your bar will run special deals or themed nights to draw in the punters = knowledge of the market. Society committee members: you run the society to deliver what your members want = client care. Even doing the research for an assignment means you are keeping up with legal developments. It really isn't as elusive as it seems.

So, trainees-in-waiting, I have demisted the windows for you; commercial awareness isn't so much of a mystery. It isn't even that hard when you think about it. Maybe the seeming ignorance of the subject was really a front for keeping you in the dark to test how savvy you all are. Well, I have just given you some of the answers.... I look forward to seeing what the next buzz word attribute they throw your way!!!