Walker Clark
Worldview Archives
Quality management could be your law firm’s best investment.
In an increasingly competitive legal market, law firms must constantly adapt and evolve to stay ahead.
While many firms focus on expanding their client base, increasing billable hours, or adopting the latest technology, a crucial factor in determining long-term success lies in the effective quality management of internal work processes.
Buried Treasure
Most lawyers have an untapped source of new fees...
...from old clients.
Research conducted by Walker Clark LLC with our clients over the past twenty years confirms that the return on investment in keeping in touch with inactive clients — even ones who haven't provided any work for years — can be significantly better than the time, effort, and expense of looking for new ones.
Are traditional law firm networks obsolete?
A number of our law firm clients have asked whether they should try to join a law firm network.
Our answer usually is “it depends.”
What is the ROI for your partner compensation system?
At Walker Clark we view partnership compensation as a strategic issue. Our experience advising law firms worldwide demonstrates that a fully informed, well thought-out partner compensation system can produce a clear and measurable positive return on investment in less than two years. A good compensation system is also a major factor in creating long-term sustainable profitability.
A bad system, however, usually produces no ROI at all, and sometimes even a negative one.
What is your plan for network affiliations next year?
Business planning should be an intellectually rigorous and disciplined process, not just the last-minute production of a spreadsheet.
Opportunities for network affiliations should be one of several unifying and coordinating themes in planning. In too many business plans and marketing plans, however, they appear to be little more than afterthoughts.
Is a network a good strategic investment for your law firm?
This is the fourth and final article in a series of posts that consider the future of professional services networks. It investigates the links between law firm networks and law firm strategy.
DIY
"Why couldn't we just do this ourselves?"
My colleagues and I at Walker Clark LLC are frequently asked this question when we submit a consulting proposal to a prospective client.
The "do it yourself" mentality that some law firms have raises several important points about law firms and consulting services.
