A guest post by Miriam Said.
I am a member of the Co-Op. Apparently, it’s good with food.
What has that got to do with a law blog, you ask?
Well it has everything to do with a law blog.
The Co-Op are into banking and insurance as well as providing travel and funeral services and if you are a member of the Co-Op you gain from a share of their annual profits, twice a year, via the use of a points card when you purchase food or purchase a holiday, etc. This is the Co-Op Dividend.
The Co-Op seems to be gearing up to get into the legal sector now that the legal alternative business structures is going ahead. It is even being commonly dubbed “Tesco Law” and forsees that well known brands such as
The Co-Op and Tesco will attract customers in their droves if they do get into the Legal sector.
As a customer in general, this looks very attractive to me and should therefore fill any Legal Firms boots with utter dread.
Why do I say such a thing?
Well, both of those business models are doing very well in the financial markets as well as the food and beverage sales arena so as a customer of the Co-Op and a member, I am extremely attracted to the level of service and the rewards I gain for purchasing those services. It is also a nearly identical format to Tesco’s business model, however, Tesco is not a cooperative institution.
Tesco in particular offer an extremely targeted and personal approach for their customers to take advantage of, also making it easier for their customers to utilise technology. There is a Tesco shopping application for the mobile telephone that lets you scan items just about anywhere in the country and lets you virtually add them to your basket, those items are then delivered directly to your door. Customers can also do this on-line via a web site.
How many Law Firms can say they offer this ease of service and targeted customer personalisation and loyalty?
This should be terrifying the Law Firms and if you are a Law Firm, that smug
smile should have been wiped off your corporate face by now, because the
Legal world is changing, and it’s changing fast.
Here is the asteroid that kills the dinosaurs.
If Law Firms are going to survive in the coming new world of Law, then you are going to have to change and change fast.
I tweet regulary with Julian and comment quite often on his blog. I am happy to do so as he is energised and has a lot of good advice to give to Law Firms as well as being dedicated to his blog.
I can see that he is truly trying to help Law Firms with his advice and he does so with a passion.
So Law Firms. Alternative Business Structures, the clue is in the headline.
May I take this opportunity to thank Julian Summerhayes for inviting me to be a guest blogger on his awesome blog. It has been very enjoyable and a very interesting experience.
My name is Miriam Said, (Twitter tag: @miriamsaid ), and I am not a Lawyer…..yet.