Has your law firm done a SWOT Analysis? Are the Strengths, Weaknesses, Opportunities and Threats something that every lawyer and staff member inside your firm understands and can articulate? My guess is "NO" (If yes, good for you, you do not need to read my blog).
My experience with lawyers in top tier firms is that they are enamoured with their strengths. They can tell you all about what makes their practice area unique, important and successful. Never do they have a problem letting the rest of the office (or the world) know about the cases they have won and the deals they have completed.
However, they have no idea where they come up short in regards to their competition. In fact, if someone from another planet was to study only lawyers and kids who play t-ball they would think that everyone wins at everything on planet earth.
For the individual attorneys and the firm to really succeed, you must observe and acknowledge the tender underbelly. We all have weak areas and everyone makes mistakes along their path toward success. This universal truth is ignored inside firms, and it causes people to ignore these problems for far too long.
Having a weakness does not make you weak. Having a weakness that you cover up or ignore is what makes you open to failure. Publicly showing others that you are working to improve is what will lead to greater success in the future.
Knowing and targeting opportunities is better than wishful thinking when it comes to business development. If you firm is not regularly meeting to discuss how to uncover these opportunities then you are leaving money on the table....as prospective clients are going to other lawyers to serve their needs.
Seeing the threats to your success before they knock you off course will allow you to win. Too many firms allow clients and prospects depart before they see the cause of their discontent. Be proactive with your clients, prospects, referral sources, employees and associates.
Stay tuned for Part 3.
Have A Great Day.