December 8, 2020
And the Award goes to…Kim Simmonds and Law 365!
What an honour to be selected as “The Game Changer of the Year” by the ACQ5 Global Awards.
It’s always a thrill as a business owner to be recognised for how you’re running your business, but this latest award really meant a lot because I’ve worked so hard to distinguish Law 365 from others in the legal profession.
It’s clear to me that the traditional model for law firms is broken. I want to shake off the negatives associated with lawyers – e.g. lack of trust and commercial business sense, concerns about slow turnarounds, and fears about spiralling costs – and show Microsoft Partners that there’s a better way.
Our sole mission is to help Microsoft Partners grow their businesses with less risk. From experience, we know that prospective clients often come to us when they begin to suspect they’re being outgunned at the negotiating table. Typically, they find themselves sitting across from a team of in-house lawyers and feel, quite rightly, that they aren’t getting the best terms. We step in and level the playing field with expert and specialised advice.
How I plan to disrupt the legal profession
There are 3 areas where I feel we are disrupting the legal profession.
- One, as I’ve already mentioned, is our IT focus and deep understanding of our Microsoft Partner clients – their business, their language (we are fluent in Microsoft!) and needs.
- The 2nd is making the working culture at Law 365 exceptional through wellness benefits such as Yoga Mondays, Personal Training Wednesday, Gong Baths and Meditation Friday’s and a once a month homemade Lebanese lunch cooked by my amazing Lebanese mother.
- But what really makes Law 365 a ‘Game Changer’ is our Forever Promise.
Law 365’s Forever Promise
The Membership Economy, by Robbie Kellman Baxter, was hugely influential when I was building Law 365. It helped me emulate a SaaS business model so that I could sell in a way our clients would find comfortable and familiar. I created LaaS (Legal as a Service) with subscription pricing – charging for tangible outcomes rather than time.
The Forever Transaction, his second book, helped me crystallise my thoughts and come up with Law 365’s “Forever Promise”. This is the promise you make to your clients in return for their continued custom.
“My Forever Promise to our clients is that I will get your business to a high legal maturity level and keep it there.” Kim Simmonds, CEO and Founder, Law 365
The Forever Promise — How it works
When you sign up as a member of Law 365, we make a commitment to assess and audit your current legal documents (both commercial and employment), and importantly, also your processes. We then create a plan to improve both documents and processes, while managing contract review and negotiations.
Looking ahead to 2021, I want to have ‘Netflix’ style pricing, where there is no limit to how much you can consume with a simple monthly payment. If legislation changes, we’ll make the updates you need, at no extra cost. If you need contract negotiations– we got you covered or any templates to be created. All for one fixed monthly cost.
This is still being finessed and I am sure there will be some trial and error to get it right. Look out for upcoming announcements for this new pricing model that will launch Q1 2021.
Becoming a membership organisation
We put our heads together at Law 365 and made some immediate improvements to become a ‘membership’ organisation. Already we’ve:
- redesigned our engagement process
- re-written our pricing and business model
- made changes to make our service more personal
- brainstormed how to create connections with new members
- devised ways to satisfy our members inherent curiosity and desire to learn
- challenged ourselves to provide moments of delight for our clients.
We’ll be posting about further developments as they happen, so follow our blogs and social posts to see how we’re doing and hold us accountable.
A better legal model for clients and for lawyers
The beauty of this pricing model is that it makes working for a law firm like ours a much enjoyable experience. Ask any lawyer what they hate about their job and they will say the slavish time keeping. For the client, the anxiety of being billed by the minute is palpable and it leads to a lack of trust in the relationship.
I have a lot of ways I want to change the workplace for my staff. Not just as lawyers, but as parents. It’s another broken model I want to fix. My philosophy is simple – happy staff make happy clients. So, my priority in running the business, is to look after the mental and physical wellbeing of my employees, so they can in turn give the best client service. I provide them with the tools and flexibility they need — whether that’s the latest IT for their home office, individualised coaching sessions, team building bi-monthly exercises or a yoga class to break up the work day.
Challenging the industry is necessary and that’s what Law 365 does every day.
Finally, we’d love to hear from you.
Microsoft Partners – Please do get in touch with us on social media or by email to let us know what your frustrations are with the legal profession. How can we set a better example?