The Generative AI newsletter for legal pros everywhere.

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This is the Brainyacts newsletter, where we explore the wondrous world of generative ai and its potential to revolutionize the way we work and think.

This is day 6 of 100 (our goal - 100 consecutive days!) and today we will:

1. build a value proposition - you either define it or it defines you!

2. give you 2 prompts to create useful value propositions - 1 for a SMB M&A practice group and 1 for an internal conflict-check process change project

3. explore a new generative ai tool

4. talk news you can use and some you can lose

Author’s note: I am trying to give you practical and pragmatic guidance every day. And yes I am still figuring so much out and learning each day. Thank you for subscribing and putting pressure on me to keep delivering.

My value proposition for you. In writing this newsletter, I keep in mind who you are, what your needs are, and how I am trying to address them in a valuable and better way than your other options.

In short, I stay true to the value proposition of this newsletter. What is the value proposition of The Brainyacts? Glad you asked.

Our newsletter is the go-to resource for legal professionals looking to learn and harness the power of generative AI. With our pragmatic analysis and practical guidance, you'll learn how to improve your daily life using some of the tools and methods.

Let's kick this off, shall we?

Moving onto Today's Prompts:

Let’s keep talking Value Propositions.

A value proposition is a clear statement about what your offering does and for whom. It is not a slogan or tagline. It is genuinely part of your strategy - essential to it actually.

In legal we tend to struggle with value propositions. We overlook their power of providing clarity and direction. We have far too many dilutive and bland ones in legal. That is why many clients think firms and lawyers are all the same in many ways.

So let’s use ChatGPT to help create some value propositions for practice groups. You can use this output in a number of ways:

1. create a unique brand for a new practice group

2. generate marketing campaigns

3. create an event theme for a webinar or conference

4. design client-specific pitch material

5. use in strategic planning efforts

6. train new associates and lawyers so they understand your differentiator

7. stress-test your resources and approach to ensure you can deliver

8. draft social media posts or write other content

9. attract and retain talent

Here is the Prompt:

[Your persona: you are a creative business strategist who knows how to discover the essence of any business and distill it into a clear value proposition that a business can use for branding, marketing, sales, and strategy.]

[writing guidelines: You will be asked to examine and communicate the value proposition of a given business by generating a few options for consideration. You will be pithy and clear. You will not use pre-text or include a summary conclusion.]

[context: a value proposition consists of a specific client segment and addresses the specific needs of that client with a clear solution that is different/unique from all competitors]

What are some options for a winning value proposition for a law firm practice group focused on small to medium size businesses looking to sell in the next 3 to 5 years?

This was the Reply:

1. "Simplify Your Exit Strategy: Our Expertise in Business Sales Law Can Maximize Your Profit"

2. "Smooth Transactions Guaranteed: Trust Our Business Sales Legal Team to Navigate You Through the Selling Process"

3. "Partner with Us and Sell with Confidence: Our Law Firm is Dedicated to Securing Your Business's Future"

4. "The Legal Edge for Selling Your Business: Our Practice Group Delivers Tailored Solutions for Small to Medium Size Businesses"

5. "Get More for Your Business: Our Attorneys Help You Navigate the Complexities of Business Sales to Optimize Your Deal"

Not too shabby. I like #3 the best as it speaks to a number of potential other services the firm could offer in the future.

Ok well, not all of you readers are practicing lawyers looking to grow your practice group.

Value propositions are the secret power-up of any internal project or initiative.

They can succinctly state what a project is seeking to address and who stands to benefit. A really great value proposition does this so effectively that it begins to invade every meeting and discussion about the project.

In other words, it goes viral.

For those of you that struggle with change management, getting a good value proposition is not a cure-all but it is one heck of a turbo boost.

So let’s try it out.

Here is the Prompt:

[Your persona: you are a creative business strategist who knows how to discover the essence of any project and distill it into a clear value proposition that a team or individual can use to gain approval, acceptance, buy-in, momentum, and attention for their project.]

[writing guidelines: You will be asked to examine and communicate the value proposition of a given project by generating a few options for consideration. You will be pithy and clear. You will not use pre-text or include a summary conclusion.]

[context: a value proposition consists of a specific client segment and addresses the specific needs of that client with a clear solution that is different/unique from all competitors]

What are some options for a winning value proposition for an internal law firm project focused on streamlining the conflict-checking process? Include key metrics or measurements for each one that will be important to both leaders and lawyers so you can justify the effort of undertaking this project.

This was the Reply:

1. "Reduce Errors, Increase Productivity: Our Conflicts Checking Project Saves Time by 30% and Achieves 99% Accuracy Rate"

2. "Less Time Spent, More Deals Closed: Our Streamlined System Decreases Conflicts Check Time by 40% and Boosts Revenue by 15%"

3. "Better Results, Faster Turnaround: Our Innovative Solution Delivers 90% Faster Conflicts Check Results with 98% Accuracy"

4. "Boost Efficiency, Reduce Risk: Our Project Automates 80% of Conflicts Checks and Enhances Compliance with 95% Accuracy Rate"

5. "Transforming the Way You Work: Our Project Improves Conflicts Check Process by 50% and Increases Lawyers' Satisfaction by 80%"

Again, like anything with ChatGPT the response is not perfect. That being said, these value propositions are much better than most I have seen relating to updating the conflict-checking process.

Notice how I added the measurement language to the prompt. Without this, the replies were fine but lack a clear and compelling stake. While the percentages it gave are just for illustrative purposes, they do provide insight into what you might want to measure and highlight that would be important to leaders and lawyers.

Today’s tool is Whimsical.com - a Mind-mapping / brainstorming tool

Its tagline is “See two sides of the coin, make rational decisions”

What it does? Whimsical combines whiteboards and docs in an all-in-one collaboration hub. It has embedded AI to help further your thinking, generate new ideas, and stretch your imagination.

Here is my <5min video of me walking you through it.

News you can use:

“[AI is a] useful tool for practitioners rather than replacing them.”

Marc Lauritsen, an expert in practice technology and former MIT and Harvard grad and researcher shares this wonderful article.

He lays out (with sources), despite the hype surrounding large language models (LLMs), AI has been gradually becoming practical in the legal sector, particularly with the use of document automation and practice systems. While the academic world once considered these technologies as primitive, they have continued to deliver significant benefits to the industry.

Vendors of these tools have identified a lot of perceived demand for them, while new tools like no- and low-code platforms have opened new opportunities for non-programmers. Although AI has undergone multiple “winters,” this current season is considered one of its most glorious summers, with AI being a useful tool for practitioners rather than replacing them.

Here is the full article.

News you can lose:

I cannot stand the overpriced books and gated content in the legal market. Too many mediocre books are $100’s of dollars, yet wonderfully practical books are ignored.

Our profession has a tendency to gouge consumers and restrict competition - and it is ugly (and will catch up with us). Just sayin’

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That's a wrap for today. Stay thirsty & see ya next time! If you want more, be sure to follow me on Twitter and LinkedIn.

DISCLAIMER: None of this is legal advice. This newsletter is strictly educational and is not legal advice or a solicitation to buy or sell any assets or to make any legal decisions. Please be careful and do your own research.