Post # 833 – January 17, 2020

 

Make Your 2020 Vision 20/20

According to new survey research released this week, the number one reason why partners leave their firms is not dissatisfaction with compensation, but rather a lack of confidence in firm management and strategy.
(http://www.abajournal.com/news/article/lack-of-confidence-in-law-firm-leadership-is-no-1-reason-why-partners-leave-survey)

For anyone in a leadership position and starting a new decade with today’s pace of change, this research should suggest how important it is to ensure that your 2020 vision is crystal clear.  Therefore, you need to know exactly what you want to accomplish over the next twelve months; you need to communicate your goals to your colleagues; and you need to set out for everyone what it will look like when it is achieved.  

What follows are some possible areas for setting some 2020 Goals.  Why not start by assessing how well you are currently performing with each, by using the following self-assessed grading:

A = We are a dominant performer in this area
B = We are certainly ahead of most competitive firms at this
C = We are probably ‘average’ when compared with our competitors
D = This is an area that needs remedial attention
F = If we were honest, this is near crisis for us
 

POSSIBLE MENU OF 2020 STRATEGIC GOALS:
1.         Creating innovative solutions to address client problems
2.         Finding new, efficient ways to lower costs in performing our professional tasks
3.         Staffing projects in ways that render extra value and enhanced benefit
4.         Securing more challenging and complex work from our existing clients
5.         Transforming individual client assignments into long-term relationships
6.         Being better at systematic listening and getting closer to our clients
7.         Monitoring market trends to track emerging client needs
8.         Generating increased awareness of our capabilities across our market footprint
9.         Launching entirely new legal service offerings
10.       Developing a recognized presence in serving new industry niches
11.       Attracting high-quality lateral talent
12.       Growing new partners from junior ranks
13.       Collaborating and sharing knowledge among partners
14.       Helping partners to grow and develop marketable new skills and capabilities
15.       Developing future leaders for our practices

Start with identify only three (3) areas in which you want to formulate a specific action plan and diligently focus your efforts.  In this year of 2020, let’s start the decade with a clear 20/20 vision and focus on achieving some tangible results.

Need help with seeing 20/20?  Let’s talk.  Shoot me an email, and I’ll be in touch.

 
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