The Global pandemic has put a halt to many legal practices as there are inoperative courts or transactional slow down in the market. It is pertinent to say that no matter what the size and revenue of a law firm is, they are not aloof of the situation. Severe cut downs on expenses and even laying off your employees has been a global trend now. But we need recover with the best strategy as Corona is going to be around for a while.
Firstly, we have to understand the changes our trusted clients had to make and their business operations. Their business context has shifted dramatically, presenting unprecedented challenges. Law-firm should connect with and listen to clients and their changed needs. A simple message of concern to your client can make those right ties back again.
Secondly as a responsible professional, we need to direct and advise our clients with the right opinions and areas of concerns. The client is flooded with information from all sides and most of it is not required or could be false. A right path for your client is something every legal professional should care about.
Thirdly, choose your people right. As harsh as it seems to your employees or partners, but a business has to survive. Retain your best and most effective employees and create a rock solid tea for your client deliverable. It is no time for banking on human resource for rainy days. Find ways and means to outsource to English speaking countries, where you can really cut your costs.
Finally, prepare yourself for vigilant pricing. It is common in times like these, that we try and compete to maintain business by cutting down on pricing. Again, the harshness but we have to look beyond the current times and keep up with the good and quality work. Let’s not compromise on quality for business acquisition. Quality goes beyond and through such temporary hurdles.
Author: Manish Sharma, Founder – Percept Legal