Todd Smithline, CEO of Bonterms, describes the importance of developing skills that go beyond your legal expertise. Salesmanship, project management, and information synthesis all lend themselves to adaptability in both legal and non-legal roles. He describes the value of feedback, how to offer value to your clients, and how to stay positive. 

Bonterms is the two-sided negotiation platform built on Standard Agreements. We solve contracts for Procurement and Sales, while keeping Legal happy. Average negotiation times on the Bonterms Platform are measured in minutes. Bonterms is lawyer-led and funded by XYZ Capital and Wilson Sonsini.

Key Quotes:

“ So I learned how to create a brand, how to create a product. Because even as lawyers, we are selling a product. I learned how to price a product, how to market a product, how to get a customer. How do you get a recurring customer? … I made the full step, the crazy step, the completely off the pier and into the bay step of stopping being a lawyer altogether. But even after that last leap, I took all my friends with me. I created this committee of 100 lawyers. I had a relationship with my prior firm.  I was able to leverage the next step.”

“The one piece of advice I think I’d give lawyers who are interested in doing this: Sometimes I see this thing on LinkedIn where people say “Recovering lawyer” or “Former lawyer” or something like that. And I think I read that differently maybe than it’s intended because I read it as them distancing themselves from that expertise and that experience. Whereas I think one of the easiest ways to make this move as a lawyer is to build on it, right?  I think that all three of us did that, right? We didn’t desert our former expertise, our relationships. We used them to spring to the next thing.”

“ I think the highest prized skill right now, across companies, is the people who can synthesize disparate information. And communicate it well, but at the same time deal with complex situations and nuance. This is something a lot of lawyers are trained to do. One of the skills that we really develop with lawyers is concentration. Paying attention to the details, pulling together disparate facts, and synthesizing information. So I think that is really going to be the coin of the realm going forward.”

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Time stamps:

01:12 – Meet David Wang

03:27 – Meet Todd Smithline

10:25 – Taking the leap away from legal

18:02 – Ensuring success in any role

27:47 – Non-legal roles to pursue

34:29 – How to approach law school

54:32 – Defining your value

55:52 – Keep or redline

57:45 – Where to find Todd

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Links:

Find Todd Smithline on LinkedIn

Find David Wang on LinkedIn

Find Jessica Nguyen on LinkedIn
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