Good Communication is One Key to Success
One of the keys to a successful law practice of any size is communication among staff and colleagues, and communication with clients. Smaller law firms have the advantage of being more transparent and having less bureaucracy than larger ones. Clients of such firms typically expect to, and do, receive more personal service. But small or solo firms do not have to be at a resource disadvantage to larger firms that bulk up through formal mergers. Instead, they can achieve their own economies of scale through alliances, from simple to complex, with their peer practitioners.
Advantages of Alliances
Alliances can give small firms big advantages. Law firm alliances using everything from shared space to shared engagements can help smaller firms leverage capabilities without spending on additional overhead or personnel. The decision to pursue an alliance depends on such qualitative factors as whether the practice lends itself to collaboration with other lawyers, whether the firm's culture is too individualistic to integrate with outsiders, and whether clients will be comfortable if "their" lawyer suddenly starts working with others. Equally important, however, are the substantial financial advantages various types of alliances can offer. Here are three examples...
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