Page 17 - Strategic Planning for Law Firms

Strategic Planning for Law Firms
“We don’t want to spend money on a consultant”
Typically, firms who engage in strategic planning hire an outside consultant, and they can be expensive. Asking your firm to spend money on strategic planning can be daunting, especially
in this COVID-19 cost cutting era. The paradox is that money spent on a strategic planning consultant often leads to increased firm revenue and decreased spending, the value of which far exceeds the cost. View a consultant not as a cost center but a revenue generator.
“We’re too busy to commit busy lawyers to do this”
Time is money. Non billable work, even if it may lead to more billable hours, can be a hard sell. Discussions should be had how transformational (and profitable) effective strategic planning can be. Practicing law is a business, and businesses do far more than produce a service or a product. Owners must do some of everything even when they have professional staff doing the day to day operation.
“The firm is doing fine without one”
If it isn’t broke, don’t fix it. But is the firm doing fine without one? How are the firm’s profits? Turnover? Culture? Median billable rate? Is the firm really doing fine?
“It’s too much work”
Is strategic planning hard work? Yes.
Is it too much hard work? No. If done right, the investment of time and money is manageable.
©2021 Federation of Defense & Corporate Counsel
9
SECTION 02 RESISTANCE TO STRATEGIC PLANNING