Law Firms As a Business: 5 Areas Small Firms Fall Short
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Transcript of Law Firms As a Business: 5 Areas Small Firms Fall Short
![Page 1: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/1.jpg)
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Law Firms as a Business5 Areas Small Law Firms Fall Short
![Page 2: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/2.jpg)
Success is going from failure to failure without loss of enthusiasm.
Winston Churchill
![Page 3: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/3.jpg)
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1) Actively Listening to Clients
In Business: In Small Firms:
![Page 4: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/4.jpg)
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1) Actively Listening to Clients
![Page 5: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/5.jpg)
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1) Actively Listening to Clients - Tips
1. Determine Your A-List/Top Tier Clients
2. Conduct One-on-One’s with Top Clients
3. Make Collecting Feedback Part of Your Routine
4. Utilize Social Media as a Listening Tool
![Page 6: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/6.jpg)
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2) Evaluating the Health of the Business
In Business: In Small Firms:
![Page 7: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/7.jpg)
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2) Evaluating the Health of the Business
![Page 8: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/8.jpg)
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2) Evaluating the Health of the Business - Tips
1. Make Sure You Have Quick Access to the Right Data
2. Understand Your Drivers
3. Build a Dashboard
4. Schedule It on Your Calendar
![Page 9: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/9.jpg)
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3) Pricing
In Business: In Small Firms:
![Page 10: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/10.jpg)
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3) Pricing
![Page 11: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/11.jpg)
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3) Pricing - Tips
1. Believe There is an Alternative
2. Know Your Services and Costs Inside and Out (upfront)
3. Conduct a Pilot Program
4. Provide Options Based on the Value You Provide, Not the Time it Takes
![Page 12: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/12.jpg)
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4) Innovation
In Business: In Small Firms:
![Page 13: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/13.jpg)
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4) Innovation
![Page 14: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/14.jpg)
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4) Innovation
SIZE
TIME
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4) Innovation - Tips
1. Take Nothing for Granted
2. Challenge the Status Quo
3. Listen and Adapt to Your Clients’ Needs
4. Value Price
![Page 16: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/16.jpg)
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5) Project Management
In Business: In Small Firms:
![Page 17: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/17.jpg)
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5) Project Management
![Page 18: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/18.jpg)
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5) Project Management - Tips
1. LPM “lite” for Small Firms
2. Set Objectives and Define Scope
3. Over Communicate
4. Manage Scope Creep
5. Conduct End of Matter Reviews
![Page 19: Law Firms As a Business: 5 Areas Small Firms Fall Short](https://reader033.fdocuments.net/reader033/viewer/2022042715/55874d17d8b42acd168b471f/html5/thumbnails/19.jpg)
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