“If you don’t know where you are going, any road will get you there.”
Putting Theory into Practice
In today’s brave new legal world, competition is fierce among firms for a diminishing number of clients. In order to win new business – and retain current clients – law firms need to develop strategic plans that reflect the realities of today’s marketplace while charting a visionary course for tomorrow.
We know the drill because we’ve been in your shoes and have hired outside consultants to help us. During the strategic planning process, we help you sort through options and make informed choices about future direction and course of action. For some firms the decision may be to remain on course. For others it may mean a merger, an acquisition of a key practice, or making several strategic lateral hires. Whatever the outcome, we help you navigate and address the issues.
Ingredients of a Viable Strategic Plan
- Firm’s mission statement
- One to two year vision for the future and business goals
- Firm’s core capabilities (strengths and weaknesses)
- Characteristics that make the firm unique
- Target market review/assessment
- Competitive analysis
- Current market position
- Actions required to successfully implement the plan
- Determination and allocation of resources to support implementation
Converting the Plan to Action
Most strategic plans sit on shelves gathering dust. Successful strategic plans get implemented. We work firm leadership to develop a process that optimizes buy-in and commitment from firm attorneys. And we ensure that the plan includes tangible, deadline-driven action items and identifies who is responsible and accountable.