Walker Clark Worldview
commentary and insights for law firm leaders
Why Small and Midsize North American Law Firms Should Build Informal Strategic Relationships with Law Firms in India
“Do you know any good law firms in India that can help us with this issue?”
“Not offhand, but give us a day or two and, we can find one for you.”
There is a good chance that this response has already cost your firm a potential client.
Five Hidden Internal Opportunities for Better Law Firm Profitability
For many law firms, profitability discussions begin and end with rates, realization, utilization, leverage, and expense control. Those measures matter. But they are often outcomes rather than root causes. A firm can raise rates, press lawyers to bill more hours, or reduce discretionary spending—and still leave substantial economic value on the table if its everyday work processes generate delay, duplication, avoidable write-downs, or client frustration.
Walker Clark members were pioneers in the introduction of continuous process improvement (CPI) and total quality management (TQM) into legal practice more than 30 years ago. These intellectual disciplines and their practical impacts are even more relevant and powerful today as artificial intelligence and advanced technology become a part of day-to-day law firm operations.
The basic straightforward premise remains the same: work is performed through processes, whether or not a firm has consciously designed them.
This article describes five internal work processes in law firms that often have the greatest—but usually hidden—impact on law firm profitability. They are not the only ones, but they are always a good place to start looking for opportunities to build sustainable profitability through Continuous Process Improvement and Quality Management.
When Good Legal Work is not Good Enough
As they move into the late 2020s and beyond, law firms that want to stay relevant and profitable can no longer define success as simply giving accurate legal answers on time and on budget.
They must reposition themselves as strategic partners who help clients achieve business outcomes, not just resolve legal issues.
Missed Opportunities in Client Relationships
In our firm’s experience and research, approximately one-third of law firms cite the maintenance of financially sustainable relationships with their existing clients as one of the major issues in their marketing and business development efforts.
Their concern is very well-placed, especially in today’s highly competitive markets for legal services.