The Business of Law – Marketing and Business for Enterprising Attorneys

Valerie Fontaine and Roberta Kass, two legal search consultants with Seltzer Fontaine Beckwith, have a great piece on crafting a business plan for Attorneys over a Law 360 (subscription required but well worth it).

In the midst of economic turmoil, Fontaine and Kass direct their piece to both senior attorneys who are looking to join firms as well as junior attorneys looking to position themselves for the future. The bottom line, according to them:

“Having your own client base is an essential element to taking control of your destiny, which can mean having the widest possible selection of job offers, starting your own firm or negotiating a better position within your current firm.”

To accomplish this, the author’s argue attorneys need to create business growth plans for themselves, just like businesses do. Lawyers should identify targets, outline specific strategies (within the parameters of ethical requirements of course) and also recognize the costs of those business development activities.

They’re both right of course, and their point underscores something I’ve been saying for quite some time: if the turmoil in the legal industry has taught us anything, it’s that to be sustainable, our law firms need to behave more like businesses.

At Sokolove law, we try to look at every aspect of our business and really hone in on ROI. Where are we seeing demands from clients, and what types of cases are emerging as new opportunities? Finally, how do we deploy human and financial resources to meet that demand? Click here to listen to what our affiliates say about working with us.