Isn’t It Time That Your Law Firm Developed A Strategic Plan? Today’s Law Firm Can Either Take Charge of its Future or Sit on the Sidelines and Watch the Marketplace Change Around It

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In corporate America, virtually every successful company has a strategic plan guiding its future. Banks won’t lend money without one. Shareholders and venture capitalists demand them. It gives an organization a competitive advantage.

Ask just about any managing partner or firm administrator whether his/her law firm should have a strategic plan and almost all of them would say, “yes.” After all, without institutional direction, the law firm is little more than a collection of sole practitioners sharing office space…or a “hotel for lawyers,” as our friend Bill Flannery likes to say. Yet, according to a recent survey, fewer than 5% of the law firms in the United States have such a plan in place.

Why then, do so few law firms have a strategic plan? And what does it take for a law firm to develop and implement one?

Please see full article below for more information.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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