HOW DO LAW FIRMS WORK? // learn this if you want to secure a Training Contract
Vložit
- čas přidán 25. 07. 2024
- Hi and welcome to my CZcams channel. I am a Trainee Solicitor living in London. Today I’m helping you understand how law firms work as businesses, a crucial topic to understand if you want to become a solicitor!
☆ RECOMMENDED BOOK ☆
Tomorrow’s Lawyers: amzn.to/3nk195O
☆ TIMESTAMPS ☆
00:00 Intro
00:38 Why we need to understand this
01:37 Disclaimer
01:52 Book recommendation: Tomorrow’s Lawyers
02:26 Law firms as businesses
02:58 Hourly rates
04:46 More for less challenge
05:10 Alternatives to the hourly rate
06:15 Expenses of a firm
07:11 𝗘𝗫𝗔𝗠𝗣𝗟𝗘 𝗔𝗣𝗣𝗟𝗜𝗖𝗔𝗧𝗜𝗢𝗡 𝗤𝗨𝗘𝗦𝗧𝗜𝗢𝗡
07:39 Covid-19: Reducing costs and investing
10:16 Attracting and retaining talent
14:09 Expand business streams
16:58 Outro
☆ FOLLOW ME ☆
Instagram: / shannontong17
SONG: Mug - Lukrembo ( / mug )
(Description includes affiliate link)
the structure and detail in this video is a1 👏🏽
Thank youu 🥺🥺
I love your perspective of how firms can think about increasing their revenue. This is a great way to think about commercial awareness because I found that as a law student I thought commercial awareness only involved deals. But now as a trainee I’m understanding more and more the general business needs of the firm including the ways that they generate revenue. Great video 👏🏾
Thank you Steph! I was in a similar position to you where I was just thinking about things like Brexit or high profile mergers that I didn't really start appreciating commercial awareness from this perspective until I started working.
This was so helpful. Thank you!
Very interesting! I’ve never thought deeply about how firms run before. Insightful video and easy to understand information! Thank you😀
I absolutely LOVED this video. You’re amazing at explaining! Thank you 😊
So happy to hear that 🥰
This is extremely helpful! Thank you so much for sharing this!
Thank you so much Jordon 🥰 I’m glad you found it helpful!
VERY helpful video thank you so much! so clear and straight to the point
You’re very welcome!! I’m glad you found it useful ☺️
This was so incredibly helpful for a completely clueless newbie like me. Thank you so much!
No problem, I’m so happy you found it helpful ❤️
thank you for your insight!!
You’re welcome! Thank you for watching 😚
this was so insightful thank you!! love the suits example haha
Thank you Sanjana! I know most lawyers think Suits is highly inaccurate but I still enjoy it 😂 and thought it was a good way to get my point across! Glad you found the video insightful 🥰
Fab example about lateral hiring. So rare to hear people talk about this in commercial awareness content!
Thanks Aks! Hope you found this video helpful 😊
Hi Shannon, this was great, thank you! I'm trying to find out more about remote working possibilities for aspiring solicitors, in light of the new SQE/QWE pathway - do you think it will be possible to work from home as a trainee? P.S I'm looking forward to your APIL webinar on Thursday!
Hi Siobhan! I definitely think it is a possibility, different employers have different policies in relation to remote working, I am personally able to choose where I want to work, so I could only work from home if that was my preference. See you at the webinar :)
Thanks for the detailed video, but the main aim of a lawyer should be to create justice and not revenue. It is a very ‚psychologically underdeveloped‘ way of thinking which these law firms seem to have? Not fit for a modern, fair world.
Thank you ! Very insightful and helpful video!
So glad you enjoyed the video 🥰🥰