Rob Knowsley (Episode 6)

Okay. So what are some of the most common problems concerns questions issues that your clients and other law firms are facing right now? What that what they’ve been facing since this whole lockdown has become real?

Okay. So if we leave aside the sort of you know,

the very fundamental things like people getting organized to work remotely

and all those sorts of issues

and to get it over to get documentation signed that previously

would have by law required face-to-face meetings,

which can happen. The main issue at the moment

for some firms is that their new enquiry has dropped off.

I was talking with the firm yesterday where their new enquiry

since the beginning of this

as dropped off by just on 90% Now in the short term

unless you looking at that issue if die in the short term that’s not going to hurt

because it’s still got the work that was open previously to do

but in the fullness of time if that’s not rectified through getting an alternative inquiry

and perhaps downsizing as appropriate and so forth there.

You’re going to have a huge.

Drop off in cash flow and that’s cash flow inwards,

of course, while cash flow will still be strong.

So even if the firm was profitable previously,

it’s suddenly going to become unprofitable and you’re going to have terrible liquidity problems,

which any firm will have eventually if it’s not profitable of course,

you can’t keep borrowing forever.

So It’s really about refocusing verbs on where the opportunities May well be now.

Rather than letting people assume that everything is you know Cactus

and we really got to sit and hope that the economy will recover

sufficiently eventually that will be able to survive.

I mean for an optimist and a businessman you get they just not that’s just not an option.

You just have to focus on what clients might need such as you know people needing.

To make a new will or make a first we’ll all make Powers of Attorney or whatever.

We can’t look at why they might not we’ve got to find out

whether they want to people who need help with situations

around their commercial leaks people who need

help with the fact their business is expanding rapidly in the pandemic.

So everyone who’s involved in suppliers for The healthcare industry.

There are a lot of industries that are going absolutely gangbusters at the moment

and it’s a case of identifying where opportunities are

there for assisting those people not to muck up.

So simple example would be we already know that a lot of employers muck up

when they’re putting people on.

Putting workers on you know, the whole issue of workers

and being employees or contractors the whole

issue of whether you’ve actually onboarded someone correctly.

If you weren’t getting it right pre-pandemic

and you find your business growing in your Under Pressure to try

and get all the product out to the people who want it because it’s all very urgent sudden,

isn’t it even And the protection of face masks,

you know, it was all very urgent urgent urgent retool 10 a

refrigerator Factory into our face mask Factory

and get this get the stuff happening.

People are going to make the same mistakes now that they were making before in those areas.

So they need assistance to avoid those sorts of problems

and that’s what a lot of lawyers need to be doing at the moment is thinking

through not what’s happened to their former flow of inquiry.

But where should at least some of the replacement

for that inquiry be likely to come from and how to go about getting it.

It’s not the time to have someone design you a new logo.