As law firms and their clients face a more uncertain economy and the possibility of softening demand, investing in a stronger, more connected client experience is not just good practice—it’s a smart, strategic investment.
In a business landscape defined by rapidly evolving technology, shifting client expectations, and relentless performance pressures, law firms face a critical choice: continue optimizing operations for efficiency alone, or invest in the one asset that truly drives long-term value—people. The law firms that will lead tomorrow aren’t just embracing innovation; they’re cultivating environments where individual lawyers and staff can truly flourish. But it would be foolish to dismiss this as a soft, idealistic notion – it is a business strategy grounded in data and measurable performance.
In uncertain business times, consistency and predictability are paramount. I would argue that predictability is a better measure of long-term success than record-setting profits. Law firms cannot afford to take a reactive approach to business development. Consistent investment, a focus on diversified business development efforts, and a commitment to fostering a culture of business development are keys to long-term success.
Law firm strategic planning has a bad rap. Many firms spend significant time, energy, and resources developing a strategic plan only to see it falter. Often, the reason strategy fails isn’t the plan; it’s the lack of support and management tools needed for implementation, particularly when it comes to the
As the holidays approach, many professionals and their firms find themselves contemplating how best to recognize and thank their clients. While holiday gifts and cards are a longstanding tradition, the challenge lies in making these gestures genuinely meaningful instead of an obligatory commercial action item to be done before year-end.
Making partner is a career milestone for many lawyers. After the initial excitement, new partners might ask themselves: What now? Often, many are overwhelmed by the daunting new task of building a book of business. By keeping in mind a few guiding principles and focusing on realistic expectations, new partners
At GrowthPlay, we preach the power of the G3 strategy to business development: guard, grow, and get. Using the proverbial 80/20 rule, 80% of law firm revenue is typically in the guard and grow segments. Most law firm revenue is derived from existing clients, so attorneys and firms invest in
As law firms navigate the uncertainties impacting the business of law, leaders must be more intentional about driving consistent and sustainable growth. Unfortunately, most strategic plans fail because they are either too aspirational or too tactical. Aspirational strategic plans are heavy on vision but light on concrete action; tactical strategic
Contrary to the stereotype that lawyers are either “finders, minders, or grinders,” there is no one-size-fits-all approach to business development. Every lawyer has the potential to be a seller – and we have the research to prove it. Since 2015, GrowthPlay has taken a page from the corporate sales world
