Page 29 - Strategic Planning for Law Firms

the risks? Do you have a plan to shore up the firm if
Fir m’s Successes
What are the firm’s major successes over the last year? Last five? What is the firm known for in the legal community? What is it known for among clients? What is the firm’s brand?
you lose a major client?
Fir m’s Failures
What, if any, are the firm’s failures over the last year? Last five? What do you attribute them to? How were they addressed? Have you made changes to avoid repeating failures?
Strategic Planning for Law Firms
What Do Your Rising Stars Perceive about Your Firm
If attorneys don’t feel like they have a future at a firm, they won’t stay. Do your rising stars feel they have a future at your firm? Do they see succession of client relationships occurring? Do they have an understanding of what it means to be a partner? If not, why? How can the firm address that?
Firm’s Clients
Who are the firm’s top clients? What percentage of the firm’s revenue are they responsible for? Have those clients changed over the last five to ten years? Have you added major clients? How and why? Have you lost major clients? How and why? Who are the firm’s worst clients? Why? How are they addressed? Is your firm at risk of losing major clients? Are you paying attention to
Firm’s Business Development
What is the firm’s business development plan? What’s its business development model? What is its business development budget? How is it spent? Do you attempt to measure your ROI (return on investment)?
©2021 Federation of Defense & Corporate Counsel
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SECTION 04 WHERE DOES YOUR FIRM STAND