Vukani Excellent Mthembu

Innovate, Strategise: Build Strong Leadership for a Profitable Law Firm (eBook, ePUB)

• Format: ePub

Produktbeschreibung

The legal services industry is changing faster than ever before. Many of us graduate from law school and go on to become lawyers and eventually own our own law firms. However, during our training we are not taught how to run effective, profitable practices. Some lawyers even forget that their law practices are businesses from which they need to profit. Other lawyers treat their firms as if they are only jobs: Waking up and going to work every day is enough for them. They forget about growth, marketing, leadership succession plans and profits.

The main objective of this book is to teach and help fashion non-profitable law firms into profitable entities. This is done through the sharing of important tools and well-structured plans that lawyers can use to build their law firm business plans.

Traditional law firm practice is no longer working, and small law firms that do general legal services work are most at risk. These firms can never be experts at everything, yet they try to handle everything at once. As a result, they often fail. Small law firms generally struggle to generate cash-flow; attract clients; meet clients' expectations; hire the correct talent; and acquire the right technology for their practices. It does not have to be like that: Law firm management does not have to be difficult. It will not be headache if it is done correctly right from the beginning.

Getting law firm business strategy planning and management correct from the outset means that the business planning architecture, (including your strategic innovation, strategy plan, marketing plan, financial projections and a strong leadership structure) should be aligned with your clients' needs.

This book will offer you the architectural structure and skills to help you create a law-firm business plan, enabling firm owners, leaders/partners and aspiring law-firm leaders to grow their business using the relevant and correct tools.

The digital world is taking over many industries. Ten years ago, we never anticipated the establishment of fully functional online training colleges and schools, but they are now a reality. Neither did we know that we would one day have online/digital banks that would operate without branches and walk-in clients. In the same way, the legal services
industry is also changing. Clients/consumers of legal services are no longer the same as they were 10 years ago. They first seek whatever they need from a law firm using their digital devices/smart phones, and their decisions are likely influenced by what they find online.

This book contains suggestions of innovative projects on which a law firm can focus, especially when it comes to getting their business online and embracing digital work. Law firm growth strategies should focus on innovation through digital transformation, such as developing more sophisticated hi-tech/legal-tech/legal-software. In that way, law firms can outperform their rivals.

If you want to establish your own law firm one day; if you already have the law firm but feel stuck in the midst of a caseload rather than growing your business; if you run a medium-to-large law practice with partners and are seeking firm growth ideas; or if you are about to be promoted in a big law firm and are terrified of becoming a leader/partner, this
book is for you.

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Produktdetails

• Verlag: Vukani Excellent Mthembu
• Erscheinungstermin: 17. Februar 2022
• Englisch
• ISBN-13: 9781005572372
• Artikelnr.: 72339000

Autorenporträt

Vukani Excellent Mthembu has more than 10 years' experience in management within traditional and non-traditional law practices. I specialise in commercial law, I deal with commercial and business legal matters. My role is to assist heavily with transactions, documentation and paperwork, but I also help in other company issues that require motions, actions and issues with the courts. I hold LLB from University of Zululand and MBA from University of Reading (Henley Business School Africa). I am passionate about strategic innovation in the legal services industry. My biggest dream is to see legal services industry going green all around the world. I wish to see innovative law firms accepting payments through cryptocurrencies as form of payment. I'd love to witness my peers owning law firms which digitized & 100% online business, during our lifetime.