Commercial Awareness at Crafty Fest 2025
Commercial awareness is essential for any aspiring solicitor, and Crafty Fest 2025 offers a unique opportunity to develop this skill in a real world setting.
Ben and his team at Crafty Counsel put in an enormous amount of effort to host Crafty Fest 2025.
Below are three takeaways helpful for in house aspiring solicitors
Commercial Awareness at Crafty Fest 2025
AI presents opportunities & Considerations
As more and more people start to use AI in the legal field, AI has also created an opportunity for new companies/ tools using AI.
This presents a need for the legal team to understand the legal concerns and considerations around the development of using AI in law and new product development.
Overcoming Imposter Syndrome
BARBRI held a breakout session.
4 actions to take to overcome imposter syndrome
- Recognize the symptoms and rename it. Awareness is the first step towards change
- Reframe your thinking. List your accomplishments, qualifications, and past wins, big or small. You deserve to be where you are. You’ve worked hard for this
- Talk about it and focus on your progression
- Use affirmations and help others in a similar mindset
Fun activity: Spot the difference
Rebuilding pricing around value
Shaun Jardine encourages everyone to rethink the billable hour. In less than 3 minutes (half a billing increment) he asked the group to think about an alternative pricing structure.
Start by thinking about the commercial strategy a firm uses.
As an example:
- The firm provides a legal service for 100 GBP
- Cost to the firm is 70 GBP
- Therefore, the profit the firm receives is 30 GBP
Question: if the client asked for a 10% discount what is the profit the firm receives?
Answer choice:
A: 27 GBP
B: 20 GBP
C: Math is hard, let me go back to the black letter law
What do you think?
If you are an aspiring solicitor studying for the SQE check out our list of top resources for aspiring solicitors.
