Strategies for Growth in Law Firms

Increasingly, international law firms are making it a strategic priority to expand their professional reach and enter new markets. Strategies for Growth in Law Firms explores some of the crucial elements relating to international growth strategies in the legal sector including law firm mergers, market entries, the onboarding of teams and the development of international referral strategies. 

Topics covered include: 

• international trends and developments; 
• approaches to market entry; 
• gaining and maintaining clients; 
• the business rationale for international referral strategies; 
• the importance of purpose, sustainability, culture and leadership; 
• aligning structure, governance and profit distribution with growth strategy; 
• prerequisites for revenue growth; 
• the role of business development and marketing in growth strategies; 
• achieving operational excellence with legal project management; and 
• know-how and technology strategies for business growth.

This comprehensive edition provides in-depth insights, practical tools and case studies covering the methodologies, execution and implementation of growth strategies for law firms. In addition, it gives an overview of developments in the main international legal markets and of the different international growth strategies pursued by international law firms, the Big Four and alternative legal service providers.

This title will be of practical use to law firms of all sizes and provides valuable guidance for managing directors, business development directors, general counsel and partners and managers responsible for international law firm development networks.

Key features at a glance:  

• Provides practical, proven recommendations to develop and embed a holistic and sustainable approach to revenue growth that will be perceived positively by clients
• Offers some practical considerations on the growing importance of technology and new digital growth strategies to engage and connect with your market
• A useful guide on the strategic trends and developments in the law firm markets in the United States, China and Latin America
• Explains the business drivers for a structured referral strategy, the various elements that determine it and how firms can assess their own referral strategy
• Demonstrates how market entry can be successfully approached and implemented through a disciplined and comprehensive due diligence process, focusing on culture, performance, client portfolios, practices and sectors 
• Explanation of the practical tools and methods of Legal Project Management, and how this can help law firms reduce costs, please clients, improve efficiency and grow their business
• Understand the strategic value of communication in international growth and plan accordingly, to avoid obstacles such as the breakdown of trust