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WHAT WE’RE WATCHING
GOOD LOOKING OUT - “Vision”—it’s in the Meaningless Corporate Jargon Dictionary (Third Edition) after “culture” and “synergy.” Except that, like culture, vision actually does mean something at a law firm—or at least it should (sorry synergy, you’re still useless). As Kent Zimmermann and Peter Zeughauser recently noted in their “outperformers” series on what separates the most successful law firms from the rest, the vision informs the strategic plan, which informs tactical execution, which leads to success. But, as several attorneys and consultants told Law.com’s Patrick Smith, having a firmwide vision—and, more importantly, maintaining that vision—can be incredibly challenging, especially because it can mean having to say no to a lot of people, a lot of the time. The payoff, however, can be actual revenue growth. “Every so often it is good to ask: Do we have a common purpose?” consultant Tim Corcoran told Smith, adding, “For law firms, reassuring that purpose can make sure they don’t leave money on the table.”
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