$35 Million Missing Clause

Posted December 14, 2010 by Chris
Categories: Uncategorized

This is all happening because I didn’t write, “I’ll charge you 1.5 percent” – John O’Quinn

What’s the value of a clause? About $35 million if your name is John O’Quinn. His firm failed to include a clause authorizing the deduction of “general expenses” from settlement payouts in a breast implant class action.  And this month, an aribtration panel ordered the firm to pay $35.7M in damages to the clients who were overcharged. Expensive mistake.

Surprising mistake, too. If there’s one thing you’d think law firms are good at it would be drafting a tight costs agreement with their clients. But unlike most other agreements a firm drafts, costs agreements are unbillable. The time you spend drafting one is time down the drain. So the incentive is to get it done fast, and get onto to real work that makes the firm money.

Which is what makes costs agreements and engagement letters such perfect candidates for automation. You build in all the right clauses for the matter at hand. You make it easy to draft an agreement that’s relevant and tight. And your lawyers can get the job done quickly and without mistakes.

Of course, there is one thing worse than a bad costs agreement: no agreement at all. That’s a mistake Glenn Judge won’t make again. The Pennsylvania lawyer claimed a deal for $175,000 worth of fees for referring a client to another firm. But it wasn’t in writing, and it wasn’t disclosed to the client, and the U.S. District Court decided he wasn’t entitled to a penny. – from the exari blog

Sales is Hard Enough

Posted November 13, 2010 by Chris
Categories: Uncategorized

Over the past 20 years or so CRM has exploded on the scene, from GoldMine to ACT! to Siebel and now Salesforce.com and its SaaS brethren.
CRM has done wonders for automating the sales process and helping sales people execute on a cadence of sales activities, follow a standard process and keep up with customers. Unfortunately, this is only half the battle in creating a truly efficient prospect-to-pay process.
Most sales cycles require a number of sometimes complex and burdensome documents to proceed to closure. And, if our experience is any guide, it is the creation of these documents that causes immense pain for most salespeople and can delay and even lose sales in some cases.
NDAs, Proposals, Services Statements of Work, Business Cases, Sales Contracts, even customized collateral can be automated to accelerate the sales cycle, reduce the need for lawyers to create and review large volumes of contracts, and increase compliance with internal process and procedures.
Document Assembly can solve this problem by creating standardized templates, clauses and business rules that are owned and controlled by legal and/or sales operations so that every document that is created is done so in a compliant fashion. No more rogue Limitation of Liability clauses or unprofitable pricing.  No more out-of-date templates or old bottom drawer contracts re-used inappropriately.
While ensuring compliance, document assembly also empowers salespeople to create the necessary documents themselves in real time (with non-standard deals automatically escalated to legal on an exception basis). No more backlogs means more satisfied customers.
So, if the documents and contracts in your sales cycle are somewhat negotiable and fairly repetitive and predictable, and if the creation of these documents is slow and painful, you might want to consider automating them. – from the exari blog

Collaboration For Innovation: Why Can’t We All Work Together?

Posted October 28, 2010 by Chris
Categories: Uncategorized

A recent article on ComputerWeekly.com noted that 80% of CIOs are increasing their investments in collaboration tools.  At the same time, many organizations are struggling with restrictions on which tools may be used.

For corporation innovation initiatives, this is an important issue.  Building a strong culture of collaboration is vital to fostering productive innovation.  To help build a healthy, sustainable innovation ecosystem in the enterprise employees must be provided with an environment that equips them with the proper skills, tools, and knowledge resources to improve their effectiveness.  Included in this support must be a practical framework for collaboration around innovation.

Too often, companies tend to build organizational silos that cut workers off from key information and from each other.  This is anathema to innovation.

Innovation thrives when knowledge flows through the enterprise to the workers that need it.  This knowledge is often not documented, residing in the minds of the workers.  This is why it is essential to enable the connection of people to people based on what they know.  The right collaboration framework can help make this happen.

Conversely, the wrong framework can create frustration as workers feel it is difficult to connect and share knowledge and leverage that knowledge in their work.  Many employees find that tools are not compatible and that it is difficult to capture their collaborative exchanges in a meaningful way that can leveraged.

A good collaboration framework is one that enables employees to connect without the need to leave the context of their innovation work.  The framework should make it easy to integrate the discussion into the innovation process and capture the tacit knowledge of the enterprise for reuse.  It must be simple for workers to engage with one another if you are truly going to unlock the value of the organization’s tribal wisdom. from innovate to win

Don’t Be an Amateur – Be a Pro

Posted October 3, 2010 by Chris
Categories: Awareness, Belief, Character, Context, Creativity, giving, Influence, Leadership, Life, Music, Starting, Strengths, Vision

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There are many people who have interests that they call hobbies. They spend time tinkering with these interests, but it sits as a “weekend warrior” type committment. These days you can not have that kind of mentality about your life or your pursuits. In the deep recesses of your mind, you know the ideas you have, the plans you would like to make, the accomplishments you would like to achieve. Whether it is creating a piece of music, painting a masterpiece or leading a village to freedom, you have heard the echoing voice in your mind for years. At times the voice would rise in volume and your heart would race with the thought that “maybe” this could be the time.

Sadly, you shrugged off the feelings because you “had to make a living” or you needed to be “reasonable” in your aspirations. You must shake yourself free from such damning thoughts and thrust out your hand and begin. The greatest resistance and frustration you will face is when you begin your work, that thing that you know you were meant to do. In the genesis of action when the hand touches the plow, that is the moment when the pull from the opposition is at it height. It does not come from some outside place, you know that very well, it comes from within, the center of your individual universe. A cry bellows out from the caverns of your core and screams for you to stop and let things remain as they have always been. Out comes reason after reason for you to quit and go back to the “normal” life you have been living. This is indeed the moment of truth and you must face this moment alone. At this time it is just you fighting with your own ego for supremacy of the control of your Self.

Something happens in the ether when you make contact with your work, when musician touches her instrument and artist picks up the brush. When the writer grasps the pen, a surge of energetic passion envelopes him and suddenly he is no longer alone. The Source has brought to him help and supply. Once you have set you face in the direction of your inner call, all of Heaven is allied with you and your certainty grows. From seemingly nothing the seeds of inspiration begin to germinate and flourish. A once barren mindscape is now fertile with ideas and endeavors.

In the eyes of those around you, you may seem a little off – mad even. What the onlookers do not know is that you have connected with the Muse that will bring sustenance and peace. Not in the form of success or reward, but of accomplished work. To do a thing for the money is to prostitute the Divine. To do a thing for the doings sake is the work of the professional. An amateur does not understand the importance of finishing, staying late or misery; the professional understand that nothing is done without it. The diabolical nature of the Ego is to make you believe that you are all that matters – the individual. It gives you the OK to think that you are separate and what you do bleeds over into no one else’s life. This sinister lie is only emboldened by those around you who want you to maintain the equilibrium of the group by not trying to be who you were made to be. The pack wants to set the rules and punish those who break them.

You look around at your adopted pack, but find no solace as before. Your mind has been awakened and can never return to its previous state. The only way to continue to stay with the pack is to renounce your feelings – your “knowings” about yourself – and submit to the culture of the pack. Submit to the unwritten law that we will all keep the peace as long as no one tries to step out and be their real Self. The reasoning is simple. To be one’s real Self is to succeed and accomplish and achieve, and that is what we most fear. The greatest fear we have is that we will become who we know, deep inside, we are.

But that side-eyed contempt of life will not do for the professional. Perhaps the half-hearted amateur will never write the novel, or the symphony, or the play; but truth be told it was never going to be written or sung anyway. Amateurs abuse the gift, they tarnish the sacred and humiliate the holy. Amateurs are enamored by their own unrealized visions. Professionals know that the work is flowing through them from somewhere else. Professionals honor the work.

Step free from the shadow of the pack and step into your Self. Acknowledge and begin the path to be who you were meant to be. The first step is the hardest, but the result will be the upswell of inspiration and ultimately the completion of the task. Don’t wait, procrastinate, piddle, dwaddle or put off. Step up, step out, move up and press on. Do what you know you must do…now!

The Amazing “IF”

Posted July 11, 2010 by Chris
Categories: Awareness, Belief, Character, Influence, Life, People, Strengths, Vision

Tags: , , , , , ,

Words have extraordinary power. Each day we speak thousands and hardly give them a thought. Our mouths open and out comes a flow of words which may, or may not, make sense. The words that come forth can bring hope to another or they can crush dreams. Our words can excite unknown emotions or rekindle long forgotten feuds. In the English language, I do not believe there is any other word that carries so much weight than the word, “If”.

Think of spending a day refusing to let the small two-letter word escape your lips. Think of not hearing that word from a colleague or superior. Think of a day in which that word seemed to not exist.

What would be the resulting differences in our emotions, self-esteem and personal drive without that word?

Of course I am speaking from the perspective that “if” is used to procrastinate action and proliferate stubbornness. “If” I could do this, then I could have that; or “if” my decisions had been different, my life would be better. I could go on, but we have all spoke those words and heard them from enemies to lovers. When used in this manner, “if” should be banned and forgotten and shunned by linguists everywhere.

But…

There are times when the unaffable “if” can bring the first glimmer of sunshine in a long time. There are moments when just one, single, positive “if” can whisk us away to a place where blue birds fly and dreams really do come true. “If” can take you somewhere over the rainbow.

The small problem with the word, “If” is that it doesn’t bring any hope on its own. It doesn’t bring any despair either. “If” is one of the most revealing words in the English language because it takes on the character and nature of whoever speaks it. When spoken by a person driven by confidence and the knowledge that life is what you make it, “If” can be so positive your fingertips begin to tingle. However, when spoken by someone who has given up on life and believes that they can do nothing to change their personal situation, “if” sounds like the pound of hammer to nail as the internment inevitability grows ever more clear.

Take “if” today and make you character bring it to life. When you have done so and do not like what you see – be aware and make the changes that are necessary for your sullen “if” to become a celebrated “if”. You need not wait on someone else to come and change your life, all you need to do is to take your life in your hands and step into the action that needs to happen.

Grow your Dreams

Posted May 20, 2010 by Chris
Categories: Belief, Goals, Life, Vision

Tags: , , ,

Dreams are great, but they have to grow. Dreams are OK, but there has to be some “doing” integrated along with the dreaming. Dreams aren’t like magic beans that grow overnight into an incredible reality, they take work. If allowed, dreams will just sit and do nothing. They will become cowards and selfish. Harsh words? I don’t think so.

If you knew someone who had a great idea that would help humanity but because of fear of failure they did nothing, what would you call them? The magic within dreams is only seen when action is taken and we “do something”.

So….”Do Something”!!

Ali and Change

Posted April 6, 2010 by Chris
Categories: Awareness, Belief, Context, Life, People, Vision

Tags: , , , ,

Make room for changing opinions and views for yourself and for others. Muhammad Ali once said, “the man who views the world at fifty, the same as he did at twenty, has wasted thirty years of his life”.

He could not be more true. Our minds should always be seeking to learn and expand our views and knowledge of the world around us. As we learn more, our views become panoramic as the depth and breadth of humanity is taken in.

The longer a man lives, the larger the world should be.

Failure is a What not a Who

Posted March 24, 2010 by Chris
Categories: Awareness, Business, Context, Creativity, Life, People

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When talking about business, many people talk in absolutes. Wins – Losses…Good – Bad Investments….Smart – Stupid moves….Success – Failure. In discussions like these it is imperative that we remember that a failure is “something ” that happened; not “someone”. With that context clear in our mind, we make it alright for others and ourselves to pursue great things and risk incredible failure. The reason is simply that whether great or not, they are just events and not people, like ourselves.

Too Much Change?

Posted October 20, 2009 by Chris
Categories: Awareness, Business, Character, Leadership, Life, People

Back in August I discussed perfection and it’s illusory draw for many leaders. Here is another look from a different direction. In the pursuit of perfection (and attainable excellence) leaders will change many things. There is a danger to look for in the midst of these changes.

An organization is known by its people, product or philosophy. When a leader issues too many changes and violates either the company’s people, product or philosophy there is a problem.

Instead of looking for externals that can destroy the viability of an organization if changed too much, perhaps the aware leader, in any level of management, should look for a place in another organization where his desires and interests are already in play.

Never Quit

Posted October 7, 2009 by Chris
Categories: Awareness, Belief, Character, Life, Strengths

In life there is and will be pain. This pain will be experienced in physical, psychological and relational ways, but we must push on.

Pain, even in its most sever, is a temporary feeling. Quitting is something entirely different. Quitting is a choice we have and it lasts forever.