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8 Tips for Law Firms to Thrive in 2009

These difficult economic times are the perfect time to successfully position your firm for the future and develop a strategy to not only survive, but thrive in 2009. 

By hiring an outside set of eyes to review your firm’s current business state, you will begin to refocus and develop a game plan to manage today’s realities while looking long into the future. Start thinking about tomorrow -- today.

1. Recognize business as unusual.

• Let go of “sacred cows” and accept that what worked yesterday may not work today -- or in the future.
• Foster “best practices” in firm management by soliciting creative ideas from your lawyers, paralegals and staff to develop new business and further enhance quality and client responsiveness.

2. Strengthen and expand your client base.

• Help each person recognize the impact of on broadening a more diverse client base through the employee’s own individual networks.
• Revisit your pricing structures to reflect new realities.

3. Question assumptions.

• Question your entire business model: from practice areas you offer and industries you target to recruitment and retention strategies you employ. 
• Revisit how decisions are made to ensure the best input and analyses. 

4. Use structure to support strategy.

• Ensure that your firm’s structure supports long-term client satisfaction and loyalty. 
• Review your systems and processes to ensure they support attracting and retaining the best talent.

5. Make the best use of your time right now.

• Maximize your time, money and energy by setting priorities and keeping to them.
• Schedule time weekly with big-picture, future goals in mind.

6. Manage your stress.

• Encourage emotional and physical health by balancing work with exercise, spiritual renewal and a healthy diet.
• Reach out and strengthen your support network of friends, family and colleagues.

7. Instill hope and inspiration.

• Continually boost firm and client morale to maintain motivation and commitment.
• Communicate internally to highlight successes and accomplishments.

8. Turn “smart lawyers” into successful business leaders.

• Arm your firm leaders with the necessary skill set to effectively manage growing complexity and unprecedented challenges.
• Coach emerging leaders to identify and leverage their personal strengths.

 Beverly L. Weise, M.B.A., President of Leadership Talent Solutions, has more than 25 years experience as the Executive Director of an international association of law firms, a Human Resources Executive at an aerospace company, an Executive Coach, Organization Development Consultant, Trainer, Facilitator and Speaker.

Marci Maniker-Leiter, M.A., Management and Organizational Development Consultant, has more than 25 years experience in the professional services industry. Her areas of expertise include managing change, organization effectiveness, workflow analysis, executive coaching, meeting facilitation and team building.

For further information, please contact:

Bev.Weise@LeadershipTalentSolutions.com
www.LeadershipTalentSolutions.com
310.306.9898