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Your Law Career Future explained - Unicorn with a twist, Jordan Furlong
Manage episode 440519520 series 3529973
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A MUST listen for every Attorney in the world who cares about their career, their firm, and their future.
In this eye-opening episode, Legal Industry Analyst Jordan Furlong reveals how law firms can thrive in a tech-driven future by restructuring their business models and embracing AI, challenging the outdated billable hour system. Discover why the key to success lies in valuing client relationships and enhancing productivity through innovative approaches rather than merely adding more lawyers.
Full video episode available on youtube.com/legalunicorns and globallegalmarket.substack.com
We spend close to an hour discussing the following:
00:00 Intro to Jordan
03:20 We are already in the future
04:15 Every law firm can restructure to maximise their growth and revenues
05:30 The unit of lawyer
06:20 Understanding growth, the 3 dimensions of growth
07:20 Add capacity, not just more lawyers
08:50 The only recruiter in the world that says you don’t need to hire
10:10 The rise of AI Agents
12:05 Significantly increase productivity through tech
13:00 Law firms need to stop measuring hours
13:55 How are we best servicing our clients?
15:15 Some lawyers just can’t see past the billable hour
16:50 Uncertainty of value for the client has to stop
17:50 Productivity measurement is coming to law, whether they like it or not!
19:00 Selling the experience
20:00 Price the relationship
22:10 You are a business consultant
23:05 What does it mean to the client to lose time?
24:10 Billing by the hour undervalues your work
25:05 The lawyer will have to share the risk in the future
26:20 Jordan’s article
28:15 The value of communication, empathy, capacity, and productive = success
29:00 What do we tell law students?
31:00 In-House tech adoption is different across the world
33:00 AI is affordable…and incredibly necessary to all lawyers
36:00 The org chart, for a law firm of the future, is the Reverse Pyramid
37:00 The gig economy/fractional working impact on law firms and legal teams
Check out www.umbiie.com
38:30 The old leveraging model is dying
41:00 The most valuable skill is building relationships with clients
43:00 AI will be the new Trainer
43:30 You only need 5 clients - Check out www.umbiie.com
47:00 Final thoughts for Africa’s legal leaders and business owners
49:20 I am a catalyst for growth, for everyone
50:20 Catalyst for productivity
52:10 Thank you Jordan
40 episoade
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