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<b>Corner Office: </b>Growth: An Imperative For Survival
Do your current clients provide a steady stream of work that keeps all your lawyers busy? Are new clients constantly knocking at your door with new work based solely upon your firm's reputation? If that's your situation, stop here and read no further. You are in law firm nirvana.
Unfortunately, the other 99% of you managing partners are not so lucky. Your firm's clients are probably taking an increasing amount of work in-house, putting work you used to take for granted out for bids, and just seeming to want more work for lower fees. You probably have competitors who are getting more aggressive and who seem to be developing relationships with some of your best clients, or seem to be courting some of your best partners. And you may even have partners who complain that the firm's earnings should be much higher and that they should be earning more. Welcome to today's world of law firm dynamics.
If you're going to respond to these market forces, you can't stand still. Inaction is not an option. As managing partner, you have got to recognize that growing the firm is the key to survival, because in today's environment, a firm that does not grow will be overtaken by the competition and wither.
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