Is your firm ready for alternative fee structures?

By rickColosimo / January 21, 2009 /

Since I’ve been involved in the legal profession — fifteen years now — firms and general counsel have been talking about alternative fee structures. The failings of the billable hour system as well as the reasons for its persistence in the face of its demise in most other professional services businesses, e.g., medicine, consulting, have…

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Quote – planning too much?

By rickColosimo / January 19, 2009 /

For some time now, we’ve been working with a senior retired banker from Lazard who is on our board of advisers. We essentially hired him to be our boss, in terms of helping us with strategic decisions, setting priorities, and gaining perspective on events that would help us make better decisions. Mr. P has a…

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Do financial services companies provide value?

By rickColosimo / December 6, 2008 /

There is an interesting Forbes article by John Bogle in the November 17 issue. To summarize, Bogle determined that in a recent year, the “financial services” industry effectively took $620 billion off the top for a 7% fee on $9.5 trillion value of stocks, or 2% of a $30 trillion value of bonds, or 1.5%…

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Why raw data alone is insufficient for making decisions

By rickColosimo / November 1, 2008 /

The WSj recently published an article regarding the prospects of asking/demanding that political candidates or prospective CEOs release DNA sequence information. For us, even though data-driven analysis is the first phase in our business leadership process (Data-Driven Analytics (DDA), Informed Decision-Making (IDM), and Intentions-Based Guidance (IBG)), it is important to understand that data alone is…

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