Law In Business: Making a name
Smaller law firms need specific growth strategies, while dealing with the challenge of less time and fewer resources to introduce management techniques, as Laurie Young explains
Throughout all professions, many are sceptical of management approaches but most concede some can be adapted to benefit their practices. Yet it is the larger networks that have the luxury of testing the relevance of the latest business techniques. Single practitioners or smaller boutiques rarely have time to investigate or adapt them. Ironically, good strategy is essential for small firms in today’s legal market. Conditions are increasingly cost-conscious and competitive. There are also demands for higher service standards and the threat of new entrants. So what growth strategies are open to small practices and how might they differ from those relevant to larger operators?
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