Future-Proofing Your Law Firm
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THE FUTURE OF PRIVATE LAW PRACTICE has been a subject of much speculation the last several years. While some law firm partners behave as if they believe things will go back to business as usual, most of those who are paying attention believe we are headed to a “new normal” in our future. Among the factors cited to support this proposition are business clients more engaged in negotiating legal fees, an overexpansion of law schools that has led to more attorneys entering an already packed job market, the continuing impact of technological advances on law firms and the proliferation of legal services offered online by people or entities that are not lawyers.
So, it’s a basic fact: Planning is critical for lawyers and law firms. But it remains far too easy for firms to get mired in important short-term planning issues such as budgeting and managing large projects at the expense of investment in the firm.
As that great philosopher Yogi Berra noted about the future, “If you don’t know where you are going, you might wind up someplace else.” So here are some areas to think about for your future.
BEHAVE AS IF IT WERE ALL ABOUT THE CLIENTS, BECAUSE IT IS.
IGNORE TECHNOLOGY ADVANCES AT YOUR PERIL.
HAVE A BETTER ANSWER FOR “WHAT WILL THE TOTAL COST BE?”
KNOW YOUR WORD PROCESSOR.
PAY ATTENTION!
BE BOTH EFFICIENT AND EFFECTIVE.
GROWTH CANNOT BE INFINITE.
IMAGE ISN’T EVERYTHING, BUT IT IS SOMETHING.
Read original articleTags: law firms, PRIVATE LAW PRACTICE
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