Posted by: johnocunningham | October 23, 2017

Law Firms In Need of Strategy NOW

As if law firms did not have enough competition from in-house law departments, contract lawyers, tech solutions and alternative providers, they now have to be concerned with the Big Four accounting and consulting firms, who are not only raiding law firms for talent, but leveraging their well-established CFO and C-suite connections for large chunks of corporate legal business related to litigation damages expertise, legal management systems, merger and acquisition work, due diligence, e-discovery, cyber-security, and other profitable areas of work.

Firms now need a strategy for beating back all of these encroaching competitors, and that strategy will need to be comprehensive, accounting for human talent, process improvement, and technology. A winning strategy will also need to focus on reshaping law firm cultures to be more focused on innovation and leading, instead of following marketplace trends, as suggested by Randi Mayes in a recent ABA Journal piece. 

Leadership and management can no longer be what firms attend to when time allows between law practice priorities. At some point, firms might even have to hire full-time professional managers who are empowered to make decisions that bind the partners and position them for sustainable future success.

If your firm already has a strategy and systems that deliver more value to clients than your competitors, you need to communicate it to the marketplace now with the help of a qualified legal communications professional.

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