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Kodner - Making Money From Your Technology - OKBAR SSF 6-24-06

Kodner - Making Money From Your Technology - OKBAR SSF 6-24-06

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New York LegalTech \u2022 February 20041
Making Money from Your Technology \u2013 Ross L. Kodner, Esq.
Making Money From Your Technology\u2666 Ross L. Kodner, Esq.
\u00a92006 Ross Kodner, All Rights Reserved
Making Money
from Your
Technology:
Return on Legal
Technology
=
Ross L. Kodner, Esq.
MicroLaw, Inc.

414-540-9433
www.microlaw.com
rkodner@microlaw.com

Making Money From Your Technology\u2666 Ross L. Kodner, Esq.
\u00a92006 Ross Kodner, All Rights Reserved
2006 Solo & Small Firm Conference
June 23-24 \u2013 Lake Texoma
New York LegalTech \u2022 February 20042
Making Money from Your Technology \u2013 Ross L. Kodner, Esq.
Making Money From Your Technology\u2666 Ross L. Kodner, Esq.
\u00a92006 Ross Kodner, All Rights Reserved
Your Presenter:
Ross L. Kodner, Esq.
CEO/Senior Legal Technologist
MicroLaw, Inc.
Milwaukee, Wisconsin
E-Mail: rkodner@microlaw.com
Web: www.microlaw.com
414.540.9433
\ue000
Marquette Univ. Law School, 1986 (Law Review)
\ue000
Founded MicroLaw in 1985
\ue000
Legal Technologist
\ue000
Chair, Milwaukee Bar Association Technology
Committee, Chair Midwest Law & Technology
Conference 2002-2005
\ue000
Technolawyer Consultant of the Year 1999,
Contributor of the Year 2001, 2002, 2005, 2006
\ue000
Over 850 law practices assisted
\ue000
Developer of the \u201cPaper LESS Office\u2122\u201d process
\ue000

Obsessive author and speaker nationwide on legal technology subjects with over 1200 presentations including dozens for ALA Annual and Regional

meetings
\ue000
Chair, ABA LPM Section Computer & Technology

Division since 1998 and Member, TECHSHOW 1998-
2001 Board; Co-Chair, LegalTech Planning Board
for all U.S. Conferences (1999-2005)

\ue000
Former Board Member, State Bar of Wisconsin Law
Practice Section; Technology Resource Committee
\ue000
Co-Founder, Legal Technology Alliance
2
New York LegalTech \u2022 February 20043
Making Money from Your Technology \u2013 Ross L. Kodner, Esq.
Making Money From Your Technology\u2666 Ross L. Kodner, Esq.
\u00a92006 Ross Kodner, All Rights Reserved
ROI Introduction \u2013 Business 101
for Lawyers
\ue000No one has ever accused most lawyers of being good
businesspeople
\ue000The vast majority of lawyers have had little or no business
education or training
\ue000Most U.S. law schools have virtually no coursework on running a
law practice as a business
\ue000If we use an acronym like \u201cROI\u201d, familiar to every business
undergrad, and most lawyers\u2019 eyes will glaze over
\ue000ROI = Return on Investment
\ue000In other words - for every dollar spent on technology and

practice management streamlining, you should know in
advance you will make two, three, four or more dollars back - a
positive return on investment

\ue000Any technology that cannot be shown, on paper, to have a
positive ROI in a defined time period is something you should
avoid!
New York LegalTech \u2022 February 20044
Making Money from Your Technology \u2013 Ross L. Kodner, Esq.
Making Money From Your Technology\u2666 Ross L. Kodner, Esq.
\u00a92006 Ross Kodner, All Rights Reserved
Technology Becomes a Law
Practice Profit Center
\ue000That all changes. The \u201cnew\u201d economy and the

threat of financial extinction create a new class of
lawyers who learn that understanding business
techniques = the best chance to thrive in modern
law practice

\ue000A shift to leveraging only technology that can be
shown to generate a positive ROI and which
generates more profit than it costs
\ue000Visualizing technology as nothing more than an

expense and a necessary evil becomes the hallmark
of all the failed law firms that dot the landscape of
the near future.

3
New York LegalTech \u2022 February 20045
Making Money from Your Technology \u2013 Ross L. Kodner, Esq.
Making Money From Your Technology\u2666 Ross L. Kodner, Esq.
\u00a92006 Ross Kodner, All Rights Reserved
How Much Otherwise Billable Time Do
You Waste Every Day?
\ue000How much time do you spend/waste
\ue000Looking or waiting for files?
*15 min * 30 min * 1 hr * 2 hr +?
\ue000Trying to determine case status for clients?
*5 min * 15 min * 30 min * 1 hr +?
\ue000Cutting and pasting or retyping documents
*15 min * 30 min * 1 hr * 2 hr * 3 hr +?
\ue000Typing duplicate info into multiple programs?
*10 min * 30 min * 1 hr * 2 hr +?
\ue000And don\u2019t forget - how much time does your
STAFF waste on those same tasks?
New York LegalTech \u2022 February 20046
Making Money from Your Technology \u2013 Ross L. Kodner, Esq.
Making Money From Your Technology\u2666 Ross L. Kodner, Esq.
\u00a92006 Ross Kodner, All Rights Reserved
Where Does the Wasted
Time Go Every Day?
\ue000Assume: Small firm size of 5 attorneys, 5 staff, billable
rate of $200 per hour for lawyers, cost of Staff time, $35
per hour
\ue000Looking or waiting for files?
*Attorney: 15 min, Staff: 30 min
\ue000Trying to determine case status for clients?
*Attorney 5 min, Staff: 15 min
\ue000Cutting and pasting or retyping documents
*Attorney 15 min, Staff 1 hr
\ue000Typing duplicate info into multiple programs?
*Attorney 0 min, Staff 10 min
\ue000What does all that cost???

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