The articles in this post were originally highlighted in the Pinhawk Librarian News Digest.
The following articles came together for me this morning and made me think about a memo I wrote early in my career. It was to a managing partner where – like now – there were troubled financial times with budget cuts and layoffs of associates and staff. I urged the managing partner to consider that the firm’s partners invest in their firm rather than cutting expenses to keep their own salaries at the same level or higher. Oh, I was so naïve.
My point in highlighting these articles isn’t to relive career mistakes but to see where these two article intersect.
- The Enabling Economy: The Essay – Bruce McEwen, Adam Q Smith, Esq., shares statistics from 3 sources that track how well law firms are doing, determines the numbers to be averages, dismisses the averages for what they are, identifies the issues, and takes firms to task for doing what’s safe or what’s worked before like cutting expenses, associates and staff while bringing in laterals.
- CASH, LIES, AND ROI: ARE YOUR MARKETING BUDGETS A FLIGHT RISK? – Lisa Nirell, FastCompany – I’m not sure how the last half of the title fits the article but the first half is spot on. Writing about the little value in statistics, Ms. Nirell admonishes CMOs to not depend on analytics to the degree they depend on them today. She states, “In my experience, over-reliance on these analytical instruments is a recipe for too many go arounds—some of which can be extremely costly.” Then she goes on to encourage leaders to take risks and innovate.
Besides telling the story of where law firms (in general) are going wrong, what does this have to do with libraries? How many of you are relying on old statistics to show your value? Books purchased, cataloged, processed and checked out no longer demonstrate value to stake holders. Even the number of reference/research questions asked and answered have the value that they have had in the past. If you are offering the same services and continuing to operate as in the past, your value – no matter how you measure it – has slipped. Are you ready to take some risks?
As I worked on this post, Slaw published a post by Susannah Tredwell titled Measuring the Performance of Law Firm Libraries where she offers up qualitative measures as the alternative to the statistics we’ve always kept. While I think she is right in what she suggests, I also want to remind us that the statistics we can get from vendors or collect ourselves by using products like Research Monitor can be very valuable in making a case for a libraries value.
Finally, I would like to suggest that monthly, quarterly, and annual reports to firm leadership or to those you report to are the vehicles for the delivery of both statistics and qualitative measures. When describing qualitative measures in these reports (you don’t need to generate all three types of reports – just what your management is willing to read), think like a storyteller using techniques that draw the reader or listener in. What you’re describing isn’t a cold hard fact, but threads in a tapestry that tells the whole story and paints a picture that humans understand.
There are so many risk adverse organizations today that need to quit relying on what worked and take some chances on something new.
For a tutorial on writing an annual report, see Creating Your Annual Report. Formerly titled Creating your 2010 Annual Report. While written in 2010, the information provided stands the test of time.