Page 30 - Strategic Planning for Law Firms

Strategic Planning for Law Firms
Firm’s Marketing Efforts
What marketing efforts does the firm pursue? Over the last year? Last five? How have the firm’s marketing efforts changed? Which have proven successful? Which have not? Which attorneys head up those efforts? What roles do the individual attorneys play at your firm when it comes to marketing? Should you have a paid marketing director or a relationship with an outside agency or both?
Firm’s Compensation Model
What is the firm’s compensation model? How are equity partners compensated? Nonequity partners? Associates? Paralegals? Staff? What are the pros and cons of the firm’s compensation model? Has it changed over the last year? Five? Why and how? Does your compensation model encourage good behavior or incentivize bad behavior? Is compensation equitable? Does your compensation model facilitate upward mobility and encourage rising stars to stay with the firm? Is your compensation transparent or secretive? Does your compensation overcompensate more senior lawyers who may be working or producing less?
Firm’s Succession Plan
Does the firm have a succession plan? What is it? If not, should the firm have one (based on the age or retirement plans of senior firm attorneys)?
Firm Tech
How would you describe your firm’s technology? Is up to date? Is it dated? Does it pose any security issues? Is it compatible with your clients’ tech? Does it do what you need it to do? Are there any hardware, software, platforms or apps that would provide better client service, increase efficiency and improve work product? Does your technology encourage retention of young lawyers and staff or drive away more senior lawyers?
SECTION 04 WHERE DOES YOUR FIRM STAND
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