What are the features of successful law firms that make them stand apart from ordinary firms?
A law firm that want to earn reputation and recognition in the market place can realize greater potential by developing well-nurtured institutional traits that can help a firm occupy a special place.
In essence, a law firm that inculcates habits of success through well-crafted business and marketing development principles stand a better chance to register long-term success with respect to client relations and revenue generation.
What are the 5 traits of a successful law firm?
Law firms that have earned acclaims from clients and from the market place have realized that they must do more than simply understand their clients’ cases. In effect, successful law firms are firms that have started to live with their clients.
Such firms find ways and means to get closer to their clients, where firms even go to the extent of sending lawyers to live at the client quarters for some time, and further their cause by using clients as sounding boards. In an attempt to live with a client, law firms have even started to send professionals to work at the client premises to know more about the client and his operations.
There is also a major shift in the way a law firm looks at its clients, and days when law firms looked upon specific rainmaking awards to define success of the firm is a thing of the past. Successful law firms have started to build subjective compensation schemes that stress the importance of team work, quality work product and client satisfaction.
The phrase ‘my client’ has lost sheen in law firms, and the mode which advocated lawyers to serve their own clients to reap rich rewards are becoming outmoded with passage of time. A successful law firm focuses on serving its clients better, as a firm now relies more on team work and not on a specific client lawyer to bring complete client satisfaction.
Law firms have realized that in order to cut through the clutter, and to gain an edge over competition, technology should get utilized in the best possible way to stand apart from competitors. Successful firms have started to use technology in many ways, where law firms make good use of client-management software to enhance relations with clients, and firms use proprietary knowledge to store the experience and knowledge to learn from experience and to allow lawyers gain expertise in a specific subject of law.
An institutional trait that allows a law firm to stand apart in a crowd is its tendency to share relevant information with employees who work for the betterment of the firm. Sowing seeds of transparency and trust begins right from recruiting a potential candidate, which gets strengthened through other trust-building themes introduced by a law firm. Some of the law firms share information by providing access to their files, a step taken to share and win the trust and confidence of employees and clients.
Gone are the days when a law firm took pride in its ability to provide legal solutions to all types of legal problems. Successful law firms have started to recognize the power of their core strengths, and have started to promote their strengths to attract the attention of clients.
In simple terms, law firms have moved away from wearing a boutique approach, and have started to identify their core strengths, nurture skills in these areas, and trumpet their success registered in these core areas to bring in more clients.
Law firms that stand apart from the crowd can be identified by some of these institutional traits. Not only can this help the firm gain recognition in the market place, but can set the firm off in how it handles it's client relations and overall perspective.
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