kick starting the New Year

Welcome to 2015!

The ‘outflow’ season (as I call it) is finally over and the next BIG question on everyone’s mind, is “how to make the big BOX’

While you may not be totally sold-out on excessive profit this year, there’s need to maximize the investment you have made in your business (i.e. your law firm).

Thankfully, the first quarter of each year is the planting season; a time when we all (individuals and organisations) must come up with ingenious ways to recover the expenses of the ‘outflow season’,

For business and corporate commercial lawyers, it’s strategy time, as law firms begin to hold retreats and strategy sessions to review last year’s goals and set new ones for the year ahead.

Here are 15 nuggets which may come in handy in your quest to generate results for your law firm in 2015.

1. Review your Business plan (Hoping you have one), as it would be a catastrophe not to.

2. Seek to position your firm as a thought leader in a specific area of law.

3. Learn how to best leverage on ratings and reviews.

4. Keep track of data and operations.

Test to see if you actually do understand the time value of money and the money value of time.

5. Convert visitors to actual leads.

6. Relationship with clients, colleagues and referrals are great client development sources.

7. Work at institutionalising client services.

8. Use trends and developments in technology to gain advantage in the market. 9. Ensure you have an “active” web presence and a user-friendly site.

10. Make a note to review your firm’s profile on this site before the end of Q1.

11. Work tools and Infrastructure is just as relevant as your team.

12. No matter how tight your budget for the year is, do not ignore employee needs.

13. Do not underestimate the value of feedback, externally (from clients and partners) and internally (from partners, associates and colleagues).

14. Don’t fail to sell the firm internally. Be sure your team understands the vision and the business as much as you do.

15. Study your biggest competitors in the market and go for the kill.

Finally, commit to succeeding.

Best wishes as you set out to make a difference in 2015!

Theodora Kio-Lawson