Nr. 6. Six ways to move your law firm business in the right direction

Practical tips from Jordan Furlong to keep your law firm moving into the right direction. Creating a profitable future:

  1. You can adjust your skill set, toolkit, and value offering in order to become more competitive in the post-[lawyer]substitute world.
  2. You can upgrade your capacities to deliver higher and better value that you previously did.
  3. You can adopt and apply these lawyer substitutes yourself to improve your own productivity.
  4. You can spend less time, money, and effort and achieve equal or better outcomes than you could manage beforehand.
  5. You can invest cost savings in competitive advantageous activities such as lowering our prices or researching and developing new business lines and service offerings.
  6. You cab nice yo the value chain, so that you can take on more challenging work from more interesting clients at more remunerative prices.
  7. Or… you can choose another line of work. (Law is a buyers’ market p. 29).

Law firms start and keep moving! Don’t freeze because of substitutes to law. You can still employ, enhance and surpass the technical legal substitute. Robots are just a clever way of using big data and it is not too difficult to learn these skills! (p. 29-30)

Lawyers start moving!

The list above seems simple but in fact it turns out that most lawyers do not take these up. I wonder why. May be it has to do with the post lawyer law firm complexity (78/79). And is it a mixture of aspects that have to do with: the strong ‘we do not tell to sell’ we ‘feel superior’ culture, the focus on content and the neglect of attention for workflow and good management, may be it is the compensation mechanisme that is  not yet focussed on value for money, and pricing based of time spend. May be it has to do with lack of leadership and strong short term profit for each and every partner? Jordan elaborates on all aspects extensively so you can find out for yourself what would you can change in your firm.

There are a lot of options to choose from, so go ahead!

To me personally, the Mohammed Ali move on the picture is very inspiring! The strength of moving, the strength of not hitting but stepping aside and ‘master’ the moment.

Jacky Wetzels

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