Over the years since I left practicing law, in addition to coaching, I have helped firms, practice groups and offices develop their own strategic plans. That involves the firm/group/office focusing on improving. Here are seven suggestions:
- As David Maister suggested years ago in an article, focus on Balance Sheet (long term profitability) as much as Income Statement (current profits).
- Be purposeful looking for “First to Market” opportunities by focusing on what is happening in your clients’ industries.
- Focus on how services can be delivered more efficiently and effectively
- Train your younger lawyers not only on law; but also on client relations, law as a business, client development and career building.
- Help each lawyer prepare a written plan and establish goals. Help each Practice Group/Department and Office prepare a strategic plan and establish goals. In each case make the goals both financial statement (short term) goals and balance sheet (long term) goals.
- Ask each Practice Group Leader/ Department Chair and Office Managing Partner: What is your Practice Group/Department/Office doing to improve your level of client satisfaction? What are you doing to develop, inspire and energize the lawyers in your Practice Group/Department or Office?”
- Measure and reward collaboration, teamwork, client service and satisfaction for partners and career development for associates.
I have shared my Construction Law Practice Group Strategic Plan with you before. If you want to take a look at it to help you with your own Practice Group/Department/Office plan, click here.