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How to make your Lawfirm grow?  - 1st Part

How to make your Lawfirm grow? - 1st Part

 - Reading time: 3 min. 05 s.


"If you aren't growing, you are dying"  
-Tony Robbins 
 
And if you think about it, this is the truth. When our brain stops "growing", we start failing, and the same happens with LawFirms. 

I receive the same question, over and over, from several parts of the globe: "How to make my LawFirm grow, dimension wise?" 
In fact, you have 5 WAYS TO GROW A LAWFIRM dimension wise:

1. Organically; 
2. Acquisition/ Fusion; 

3. Outsource; 
4. Partnerships; 
5. A mix of the several options.  ;

TThere's no absolute truth towards the best model, it depends of several variables: such as the partner’s organization scheme, the organization maturity, the leadership skills, the adaptation skills, branding and much more… Of course, if you say: "Pick one!" I would say: pick out the 5th option. Why? It's the most capable option to reach several markets with the best possible control. 

Let's see an example of a law corporation, which a chairman (and Founder) that I had the pleasure to interview: Abreu Advogados. This Law Firm, while growing was changing their strategy. In the beginning, they grew up organically, by recruitment. But, as they meant a faster growth, their main strategy was changed. With their dimension at that time, a process of Merger & Acquisition begun of smaller law corporations, which brought in a customer base and lawyers expert in their field of work. And when they felt the need for a broader international market in a stronger and stark form, they performed a strategic change again and begun partnership schemes with others law offices around the world. 

It should also be noted that although this growth has always been sustained by absolutely fundamental pillars, which I consider to be critical (Something often reported within my consultancy actions), namely:  

• 1st - Procedures. Well-defined and formalized internal procedures within a constant learning curve, in other words, they do not stop innovating either through new ideas, or to fill gaps within the organization;
  
• 2nd - Leadership. Strong leadership, based on "Lead by example". 

• 3rd - IT - Information systems that gather and treat all information and provide key performance management indicators supporting all decisions. 

All these points have many challenges, in fact and as an example, the reorganization of the Financial Department, only of this Case Study's, took around 24 months, with ups and downs. In other words, It was not the single purchase of a miraculous software, it’s installation and training to start. Why? Because in the midst of everything we have the most important factor: people! 

During a deployment process, a great flexibility is needed to integrate people in the process of change and by other side, meet the business needs. And because the organization is a "living being always in motion", these needs do not end and it’s required a constant adjustment and improvement. 

While writing this newsletter (while on an airplane trip) coming back from another visit to Clients in Asia, where we have customers of different sizes and with different needs being that also in here there are all these critical points to which I will add one more that stands out: The partners engagement in a partnership scheme with an approach always related to the solution. In fact, this is one of the parameters which I consider crucial so that I and KAMAE can work seamlessly with clients. When I am with a client I always say "we" and not "you", precisely because we have to think together. 

At the exact period that a client considers the "Whip Law" is its own, we simply leave, because the truth is that the problems (which I like to call challenges:-) ) WILL HAPPEN and it is how we react to these situations that will determine our future growth. 
 
In the next newsletter we will continue this theme, exploring a bit more each of the options. In the meantime, think on what kind of growth strategies do you want for your office! 
 
If you are interested in making your office grow in a sustained way: with appropriate procedures and systems that will keep you at pace on your evolution, then click here to contact us. It’s already over 18 years of experience in the legal area, with clients on several points of the world.


Ricardo Teixeira 
Law Firm's Board Advisory

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