November 16, 2022

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    I’ve been reading a book by Darren Hardy called “The Compound Effect”. It does a good job of explaining how small, consistent, positive changes over a long period of time can have astonishing results.

    For example, if I offered you £3 million pounds today, or a 1p that would double in value every day for the next month – which would you take?

    Spoiler alert — The 1p is the winner. After 31 days of incremental growth, it’ll reach a whopping £10,737,418.24

    The compound model

    I’ve noticed that health insurers are adopting the compound model to encourage people to take care of their health today (just walk 10K steps, eat less red meat), so they won’t need the knee replacement or open-heart surgery tomorrow. It makes financial sense for the insurer to promote better health, but the compound effect of walking 10,000 steps every day, wearing a health tracker, measuring your success against your peers, feeling part of something bigger than yourself makes sense too – and it works!

    Law 365 is trying to explain that same logic to Microsoft Partners for the health of their business. We want to get you in the best legal shape of your lives! Reviewing your contracts and policies now, and making sure your business is super fit, is the way to compete in the market now and prevent a crisis in the future. Small, incremental changes, just 3 credits a month, will make your business stronger and more resilient in the long term.

    Tracking your legal touch points

    Before you start though, you need to track what you spend on legal at the moment. Not just the lawyers’ bills (I know, they are eye-watering just by themselves) but every legal touch point:

    The amount of time you waste reviewing contracts and NDAs because you don’t want to pay someone else to do it...

    The hours and money lost in contract negotiations because you don’t want to play hardball with your potential new client and lose the sale...

    And what about the costs when things go wrong, or your customer fails to pay?

    OUCH. It adds up. Doesn’t it?

    The subscription model

    Now, give Law 365 one year to show you how we can deliver incredible results for your business in small but significant improvements. An annual subscription costs less than £18,000. Isn’t your business worth it? I bet you’ll see the compound effect both professionally and personally.

    We’ll help you win more business, close deals faster, and give you the headspace to focus on the future and business- doing what you do best.

    And while you mull that decision over with your CFO, why don’t you give our NDA reader a try?

    Meet LawyerBot 365

    It’s absolutely free while it’s in BETA and it’ll demonstrate how Law 365 has your back. Like that small vitamin pill you take each morning, we’re helping in a small way that will pay long term dividends.

    Further reading

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