Law Firm Strategy 2014 Responsiveness, Efficiency And Cost Effectiveness

Developing the Next Generation of Rainmakers Law Firm Strategy 2014: Responsiveness, Efficiency and Cost Effectiveness What it takes for law firms to succeed in 2014 is far different than it was at this time in 2008. My question, put simply, is: What is your firm doing to teach, coach and mentor your lawyers on how to deal most effectively with the change? To me it is a no-brainer, the firms that are best at responding to these changes, will be in the best position to succeed. Have you read the  The Center for the Study of the Legal Profession at the Georgetown University Law Center and Thomson Reuters Peer Monitor: 2014 Report on the State of the Legal Market? It is loaded with some really important thoughts on what is changing. Here is one: Over the past five years, clients have talked increasingly about enhancing the “value” they receive for the legal services they purchase,14 and it has become increasingly clear that what they mean by “value” is efficiency, predictability, and cost effectiveness in the delivery of legal services, quality being assumed. (My emphasis.) I found that discussion interesting because 10 years ago, when I was still practicing law, I wrote a detailed memo and made a presentation for our firm titled:  SUCCESSFUL LAW FIRMS OF THE FUTURE. Take a look at what I wrote 10 years ago. Here are a few points I made: Here is the quote in the 2014 report on the state of the legal profession that most caught my attention: It would seem that, to maximize new business opportunities for younger partners and others, it would be wiser for firms to focus their energies less on growth and more on the issues that clients care about â€" responsiveness, efficiency, cost effectiveness, and the like. So, I end with these questions: If your firm focused on those subject areas with your young partners and senior associates, you might capture the attention of some awesome business clients.   I practiced law for 37 years developing a national construction law practice representing some of the top highway and transportation construction contractors in the US.