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Strategic Planning Success: Essential Preparation for Law Firm Founders

6/19/2023

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  • Think about your Vision: What are your long-term goals both professionally and personally. Be prepared to discuss and brainstorm. This will serve as the guiding light for your strategic planning process.

  • Understand that although a comprehensive analysis of your law firm's strengths, weaknesses, opportunities, and threats can at first, be hard to discuss, the rewards and relief experienced in discussing and addressing are well worth the initial discomfort.
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  • Set Measurable Objectives: Establish specific, measurable, achievable, relevant, and time-bound (SMART) objectives that align with your vision. These will act as milestones and benchmarks for your strategic plan.
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  • Engage Your Team: Involve key stakeholders, partners, and employees in the strategic planning process. Their perspectives, expertise, and buy-in are invaluable for crafting a well-rounded strategy. Often founders prefer to start the process independently and then bring in the team This is often effective and helps drive the desired results.

  •  Identify Strategic Initiatives: Define strategic initiatives that will help you achieve your objectives. Consider areas such as client acquisition, talent development, technology adoption, and practice area expansion.

  • Allocate Resources Wisely: Evaluate your available resources, including finances, personnel, and technology. Allocate them strategically to support the implementation of your initiatives effectively.

  • Establish Metrics for Progress: Define key performance indicators (KPIs) to measure the success and progress of your strategic plan. Regularly track and assess these metrics to stay on course. Who doesn't love checking the box?  Measuring allows those involved the ability to measure and enjoy the ongoing results of their efforts.

  • Embrace Adaptability: This is a big one!  Plans often change and the ability to adapt is critical.  Recognize that strategic plans may need adjustments along the way. Stay agile and open to changes as external factors and market dynamics evolve.

  • Communicate and Execute: Drumroll here!  Share your strategic plan with your team, ensuring everyone understands their roles and responsibilities. Foster a culture of accountability and provide the necessary support for successful execution.

Success in strategic planning requires preparation, collaboration, and adaptability. These tips will empower law firm founders to chart a course towards growth and success!
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Best Practices at your Law Firm

1/2/2023

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​If you work in or with law firms, you already know that law firms require a high level of professionalism, attention to detail, and dedication to client service. To ensure that your law firm is operating at its best, I’d like to share a number of best practices that should be followed.

1. Maintain confidentiality: Confidentiality is of the utmost importance in a law firm. It is
essential to protect client information and to ensure that client trust is not violated. This means that all communication, both internal and external, should be kept confidential. In addition to this basic principle, be sure you are following your state’s security law requirements. Many states offer checklists and other resources for your reference.
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​2. Stay organized: Law firms deal with a large volume of documents and information. It is
important to stay organized and to have systems in place to manage this information
effectively. This may include using electronic document management systems, creating
clear filing systems, and using calendars and to-do lists to stay on top of tasks. In
addition to these resources, written processes that ALL use are critical to staying
organized. These processes should be included in onboarding and monitored firmwide
to ensure consistency. An organized firm benefits by reducing frustration, maximizing
time and enjoying increased profitability by the sheer hours gained through firm-wide
efficiency.

3. Communicate effectively: Good communication is essential in a law firm. This means
being clear, concise, and responsive in all communication, whether with clients,
colleagues, or other stakeholders. It is also important to be proactive in communication,
making sure to keep clients informed about their cases and to follow up as needed. An
important part of communication is documenting information and matter updates for all
team members involved. You want to avoid clients repeating the same information to
more than one member of the team. Consistently documenting information and checking
before speaking with clients helps reduce duplication of efforts and clients
dissatisfaction. Internal communication is also critical. This golden rule includes internal
team wide updates helping ensure everyone involved is up to date.

4. Foster a positive work culture: A positive work culture is important for the well-being of
employees and for the overall success of the firm. This may include providing
opportunities for professional development, promoting a healthy work-life balance, and

creating a supportive and collaborative environment. Firm-wide communication is low
hanging fruit for any law firm manager fostering a positive work culture.

5. Prioritize client service: Providing excellent client service is a key aspect of a successful
law firm. This may involve being responsive to client needs, providing clear and timely
communication, and going above and beyond to meet client expectations. Clients
usually contact their attorney when there is a challenge or opportunity that is tied to a
deadline and urgent. Treating each client with this understanding and being responsive
is critical.

By following these best practices, law firms can ensure that they are operating at their best and providing the highest level of service to their clients.
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    Author

    Margaret Burke is the President and Founder of MB Law Firm Consulting. ​She specializes in managing operations, finance, HR, IT, and business development to improve law firm operations, streamline processes and scale revenue. She has advised and led acquisitions, relocations, succession planning, restructuring and start-ups.

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