Page 27 - Strategic Planning for Law Firms

Strategic Planning for Law Firms
Firm Check-up
Review your firm’s financials, client list, attorney list and marketing efforts. Where is the revenue coming from and where is it going? Who are the firm’s major clients and how has that list changed? Who are the firm’s rainmakers and how has that changed? What are the firm’s business development efforts and how successful have they been? Does the firm even have the capacity to generate reports that will answer these questions? What is the firm’s culture? You want to conduct a firm check up and see how the patient is doing.
Firm’s Purpose
What is the firm’s purpose? What is
its “Why”? What is the firm’s Mission Statement? Its Vision Statement? Its Values? When were these drafted? When were they addressed, discussed or changed?
Firm’s Financial Well Being
What is the firm’s purpose? What is
its “Why”? What is the firm’s Mission Statement? Its Vision Statement? Its Values? When were these drafted? When were they addressed, discussed or changed?
Firm’s History
Is there a firm historian? A firm document summarizing its history? You need to know where the firm came from to know where it should go.
Firm’s Culture
How would you describe the firm’s culture? How do you think the partners would describe it? The associates? The staff? What is driving the firm’s culture? Who
are the main drivers, in terms of lawyers, driving it? Are they driving it for the better or worse? Why do you say that?
©2021 Federation of Defense & Corporate Counsel
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SECTION 04 WHERE DOES YOUR FIRM STAND