As we oscillate between normality and covid restrictions, the resilience of the legal industry was clear for all to see who were lucky enough to join the esteemed LMA Boston panel last Wednesday.
Carolyn Manning, Jim Durham, and Nancy Kostafos were expertly guided through the discussion by Michael Rynowecer and the focus was on what's next for the US Legal Market.
All of the panelists preached simplicity. Do less. Do it well and focus.
My takeaways are summarised below:
Simplify your goals & what you are asking people to do: Consistently put your attorneys in positions to have meaningful conversations with the right people at your clients and prospects. Most Am Law 100 firms have never been busier and as many continue to work from home in some capacity, the number of potential distractions are infinite. As such, Business Development & Marketing teams must be "laser-focused" with what they are asking people to do. Carolyn Manning suggested you ask the question, "What is the most strategic use of their time to achieve this goal?"
Put the infrastructure in place to allow the attorneys to succeed: As a hybrid-working model becomes the norm, what systems and processes can make everyone's lives more efficient? Jim Durham mentioned the ability to tee up and implement great ideas for the lawyers. How can you better do this? Can you build systems and process or do you need to alter your approach for different attorneys?
Diversity, equity, and inclusion is not just a section on your website anymore: You have to live & breathe it. My biggest takeaway from the session was the suggestion that we should invite our clients to be a part of our diversity, equity, and inclusion initiatives. If you are a law firm build with your clients. They may well be ahead of you; there will certainly be differences in approach and execution that you can learn from. Co-create to ensure shared values which will not only make you both better organisations but creates a much stronger bond between you and your clients going forward.
Moving the needle takes time: For anyone who has heard of Jan Frodeno (the world's best long-distance triathlete), he talks about "okay days and good weeks that make very good months and great years." Achieving the above is a slow process but those firms which can simplify their go-to-market will reap the rewards in the long run.
Thank you to everyone who took part and supported the LMA Boston event.