SOLUTIONS
ASI works with small to mid size law firms outside of Atlantic Canada to develop practical solutions in the following areas:
Strategic planning has reached legendary status as a joke in many firms. This scorn is not derived from the quality of the “paper plan”, as many are strategically brilliant, but rather the continued inability to effectively execute them.
Often at the same time, firms have spent considerable time and monies on the quest for differentiation and competitive advantage.
At ASI we believe effective execution of your strategic plan can be a real competitive advantage that will differentiate your firm from your competition.
Alignment in partnerships is one of the most challenging tasks that partners will face as they try to manage the law firm. But in order to effectively execute any plan, strategic or otherwise, there must be alignment between the plan and the firm’s major structural components including:
- Governance structure and mandate
- Management structure and policies
- Compensation systems
- Performance management systems
- Partnership agreement
- Will of the partners
Our approach to achieving alignment starts with an overall review of the firm′s strategic thinking looking for clarity, simplicity and realism. This will ensure alignment is even possible and that it will drive all of the other desired actions and initiatives
Next ASI will obtain an understanding of the major structural components from both management’s and, those whose behaviour it is meant to direct perspective. ASI works with the firm to develop solutions to reconcile differences in perspectives to achieve internal alignment of these key structural components.
Only after internal alignment is achieved, will ASI work with our clients to develop tactics to execute their strategies that play to the strengths of their key structural components.
Applied Strategies, Inc. has the practical experience to assist our clients in achieving both the internal and external required degree of alignment.
Over the course of a firm″s existence, many will be faced with one or more of the following situations:
- Under producing partners,
- Downturn in the economy and profitability,
- Egotism,
- Bullying partners,
- Lack of strategic focus,
- Sliding bar of excellence, and
- Departure of key partners.
These factors individually or in combination can create a crisis. The fact that the situation has been allowed to occur is less important than how the firm reacts to the situation. A timely and measured response is critical. ASI is experienced in both the development and execution of such responses.
Our approach to crisis management is simple and practical:
- Work with the client to fully understand and assess the situation.
- Explore all practical responses with the client.
- Assist in developing an execution strategy for the client’s chosen response.
- Monitor and advise on the execution of the strategy.
Applied Strategies, Inc. has a broad range of “hands on” experience in dealing with the variety of crisis that law firms may face.
Below are just some of the many unfolding developments in the legal profession that make having the right organizational structure be mission critical:
- Unbundling of services,
- ACC Value Challenge,
- Death or decline of the billable hour as a basis of billing,
- Continued commoditization of legal services,
- Technologically driven legal services, and
- Generational gaps.
Change in the status quo, including a firm’s structure, continues to be a four letter word in many law firms today despite the nature, degree and pace of change taking place all around them.
To overcome resistance to change Applied Strategies, Inc. works with clients to assess and address the three components that are required to empower management to make the changes it sees as necessary to ensure adaptability to the evolving practice of law:
- Dissatisfaction with the present situation – measured through the use of surveys and interviews of lawyers and staff;
- Vision – assist our clients in understanding what might be possible in the future;
- Strategic first steps – assist in the development of practical first steps that the firm can take towards achieving its vision.
The timely and effective management of change will be critical to the longevity of law firms for the foreseeable future. At Applied Strategies, Inc. our advisors have extensive experienced in this critical area.
There is a growing body of work on the behavioural tools that those engaged in law firm management need to possess, understand and be able to use effectively in order to steer their firms through some of the most challenging times that many senior practitioners, in the profession, can remember in their time as lawyers.
While it is important to know why people do what they do and how to motivate them to alter their course, it is equally important to know the direction the firm is headed and when to alter this direction.
Key Performance Indicators (KPI) when viewed collectively can provide law firm management with the information necessary to make informed changes in direction.
What is a KPI?
It is any measurement or statistic that a law firm tracks which meets all three following characteristics:
- It reflects the firm’s goals;
- It is seen to be key to the firm’s success; and
- It must be quantifiable.
For example if a law firm sets out as part of its strategy to be a transactional focused firm rather than a client relationship firm while the operating indicator of the ratio of active matter to active client is quantifiable, it would not reflect the firm’s goal nor necessarily be seen as key to the firm’s success and so would not be considered a KPI.
Simple but critical that you understand that all that can be counted may not count!
There are no best in class KPI; rather your guide should be that as long as the KPI measures progress towards the goals set by the firm then they are the best ones.
Applied Strategies, Inc. has an in depth knowledge of KPI and will work with you to develop the appropriate business and financial analysis to determine and track the KPI that make sense for your firm.
Private
Coaching to Lawyers Involved in Law Firm
Management
ASI’s private coaching program focuses on lawyers and other professionals either in, or recently elevated to, leadership positions in their firms and is designed to help them improve their value to their organizations.
Before proceeding with a private coaching assignment, ASI will obtain a full understanding of both the candidate and the events leading up to the firm and / or the individual’s decision to retain ASI to provide coaching. This will be done by way of an in-depth interview of both parties.
If ASI determines that it can provide value to the candidate, we will work in a collaborative way with the candidate to develop specific and measurable strategies and action plans. We are particularly careful to ensure that ownership of the action plan resides with the candidate and not the firm or ASI.
ASI will identify colleagues who will provide periodic feedback on the candidate’s progress. In the course of every coaching program, there are many personal and professional matters discussed, that are considered private and confidential. These matters will not be discussed with, or repeated to, the firm. However, at agreed upon times the candidate and ASI will prepare a joint report to the firm that can form the basis for a discussion among the parties.
Typically, we schedule two meetings a month, over the course of the program, to keep the candidate focused on his / her action plan and to provide objective, independent support in his / her pursuit of creating additional value for the firm. These meetings can be either held in person, Skype video conference or via telephone, which ever works best. We are also available for telephone support on specific issues between these scheduled meetings.
Applied Strategies, Inc.’s private coaching program is normally six months in length in order to allow time to experience sustained improvement however; we will tailor the length of the program to meet the needs of the candidate and their firm. Follow up support is available beyond this point, depending on our client’s requirements.
