Strategic Priorities

Most smaller law firms cannot answer this question with any reasonable degree of confidence.

We hate to use the cliche existential to describe this question, but it must be answered if a law firm of any size — especially a smaller one — is going to continue to succeed in the uncertain times that lie ahead in the late 2020s.

The Strategic Priorities Review is a special planning methodology developed by Walker Clark LLC especially for small and midsize law firms. Working with the partners of your firm, we will help you to identify the three to five — no more than that! — objectives that your firm must achieve to improve and sustain financial performance and market position.

Unlike traditional strategic planning methodologies — mission and vision statement, vague goals, actions, SWOT analyses, etc. — that usually have produced disappointing results for most small and midsize law firms, the Walker Clark Strategic Priorities Review is a practical approach, custom-tailored to the unique needs of your law firm and your clients, and to the realities of our times.

We rely on your realities, not business-school theories or academic “best practices,” to help you produce a list of three to five well-informed, realistic goals for your firm that:

• Everyone in the firm understands and to which they can contribute;

• Are well-informed and realistic;

• Can be achieved within 18 to 24 months; and

• Will produce long-term advantages and benefits that are substantial and sustainable.

The Strategic Priorities agenda

Development of your firm’s Strategic Priorities typically takes 90 to 120 days, not counting the six months of implementation support that is included at no additional charge. Although we will customize each Strategic Priorities Review to the unique characteristics of your law firm, the main features of every project include:

• Collection and analysis of the information your firm needs to make well-informed decisions about your priorities for the next two years

  • Confidential surveys and follow-up interviews of a select group of your clients to understand better their needs and expectations for the services you provide, both now and in the foreseeable future

  • Confidential surveys and interviews of each of your partners about the opportunities and challenges they perceive in meeting your firm’s full potential

  • Research and analysis of your firm’s current market position by practice area and client sector, as applicable, to identify and define your firm’s competitive advantages and vulnerabilities

  • An Issue Agenda with references and resources to guide your firm as you identify your three to five “must achieve” initiatives

  • Custom-tailored videos, live video meetings, and documents to guide the process and its options

• The Strategic Priorities Conference, attended by all your firm’s partners and, at your option, other managers and administrators, to review the Issues Agenda and identify your Strategic Priorities

  • The Strategic Priorities Conference typically requires eight to ten hours. Most smaller firms prefer to split the conference into two half-day sessions on consecutive days, which reduces interference with the firm’s highest priority: service to the clients.

  • Most of our clients find that face-to-face discussions are easier to schedule and more productive than multiple videoconferences, which usually require significantly more time and one or two additional sessions to achieve the same level of well-informed, thoroughly considered results. Either method can be successful; however, the in-person conference usually requires significantly less investment of partner time and attention.

  • Our fixed fee includes our travel expenses, but we also offer a reduced fixed fee if your firm prefers an all-virtual engagement.

• Documentation to guide your firm forward

  • Within two weeks of the Strategic Priorities Conference, we will deliver the Discussion Draft of our report and recommendations for your firm.

  • We will facilitate a videoconference, typically lasting two hours, to review the Discussion Draft and make improvements to it.

  • Based on those improvements, we will deliver your Strategic Priorities Action Plan, based on the discussion, insights, with suggestions of specific actions, responsibilities, and target dates in support of each of the Strategic Priorities

• Advice on implementation, at no additional fee, for six months after we deliver the Strategic Priorities Action Plan

  • We recommend:

    • An initial implementation planning video meeting — typically lasting but not limited to — 90 minutes to review and refine the Strategic Priorities Action Plan

    • Progress and planning video meetings with you approximately every six weeks, typically lasting approximately 30 to 60 minutes

    • A one-hour Project Closing Meeting at the end of the implementation period

  • In addition to these regularly scheduled meetings, we remain available for consultation about implementation issues at any time, upon request.

Investing in your firm’s future

It is very difficult to estimate your return on investment unless you know what that investment will be.

This is why we are up-front about our fees. We currently offer our Strategic Priorities Review to law firms with ten or fewer partners for a fixed fee of US$ 45,000. (Our fixed fees for larger law firm partnerships are adjusted proportionately.) We also offer substantial discounts for firms that elect the “all-virtual” service option. Our fees are paid in installments.

You should also consider the investment of partner time. Although each project is different, you can expect that each partner’s time investment over the course of the entire project will be approximately 20 hours, with project leaders such as the managing partner and partners who are have specific responsibilities managing implementation actions spending additional time.

If you believe that your law firm is worth this investment…

Use the secure e-mail button at the bottom of this page to schedule a complimentary, strictly confidential discussion about whether our Strategic Priorities Review would be a worthwhile investment in your law firm’s future.