Law firm finance for marketing professionals with Tim Corcoran

Timothy Corcoran is the Principal of the Corcoran Consulting Group, LLC. He is a former CEO who now guides law firms and law department leaders through the profitable disruption of outdated business models. Tim is a frequent speaker at partner retreats and legal conferences and a writer whose articles are regularly published in leading publications.

Tim is also a Trustee and Fellow of the College of Law Practice Management, a Research Fellow at The American Lawyer, a Teaching Fellow at The College of Law Australia and the former President of the Legal Marketing Association.

Here’s a glimpse of what you’ll learn: 

• Timothy Corcoran gives an overview of his background and his current consulting work
• How is the law firm financial market changing, and what do legal marketers need to know?
• The value of hiring competent subject matter experts
• Tim’s thoughts on how to improve the ways law firms measure profitability
• Resource allocation: how marketers can more effectively divide up the pie 
• How the pandemic is accelerating change in law firms and legal marketing
• What are the impacts of an industry that boasts about earnings?
• Tim shares the ways that the traditional formula for making money in law firms needs to change

In this episode:

Change is inevitable—and the legal industry is no exception. The business models that worked in the past are quickly becoming obsolete. If firms want to succeed in today’s market, they need to start rethinking how they operate. 

According to Timothy Corcoran, it’s important to keep in mind that every system initially started as a series of choices. If circumstances change—as they have in the past year—it may be time to make new choices and implement new models. As Tim warns, buyers in the legal marketplace are becoming increasingly sophisticated, and competing for their business will require more than the same old tactics.

In this week’s episode of Spill the Ink, host Michelle Calcote King sits down with Timothy Corcoran, the Principal of Corcoran Consulting Group, LLC. Together, they discuss the transformation of outdated business models in law firms, how the pandemic has accelerated change in the legal industry and what marketers need to know to navigate the shifting landscape. Tim also offers some practical advice for updating the way your firm makes money and allocates resources. Stay tuned.

Resources mentioned in this episode:

• Timothy Corcoran
• Timothy Corcoran on LinkedIn
• Timothy Corcoran on Twitter
• “Farming the Green Space” by Timothy Corcoran
• Marcie Borgal Shunk on LinkedIn
• The Tilt Institute, Inc.
• We’re Smart. We’re Old. And We’re the Best at Everything.: The World’s First No-BS Guide to Legal Marketing and Branding by Ross Fishman JD 
• Michelle Calcote King on LinkedIn 
• Reputation Ink

Sponsor for this episode:

This episode is brought to you by Reputation Ink.

Founded by Michelle Calcote King, Reputation Ink is a marketing and public relations firm that serves corporate law firms of all shapes and sizes across the United States.

Reputation Ink understands how sophisticated corporate buyers find and select law firms. For the past 10 years, they have helped law firms grow through thought leadership field strategies, including content marketing, video marketing, public relations, lead generation services, and more.

The Reputation Ink team includes former journalists and PR professionals with decades of experience securing coverage in outlets such as The New York Times, The Wall Street Journal, Law360, The American Lawyer, The National Law Journal, and many more.

To learn more visit www.rep-ink.com or email them at [email protected] today..