The pace of change in the legal marketplace is picking up speed. Law firms will need to be nimble and flexible in their delivery of legal services. Is your firm ready to meet the challenge?
The key trait that lawyers and law firms of the future will need is flexibility. If there’s anything that we learned from the economic downturn of 2008, it’s that those firms that are most successful today are those that are flexible and responsive, and able to collaborate with their clients as business partners. That’s not just true for today, but will be true for tomorrow too. Flexibility translates to being open to market shifts, advances in technology, and adapting your partnership/business model to the needs of clients and the marketplace. To prepare for that, firms and lawyers will have to stay on the cutting edge of industry trends – they may not need to adapt to them immediately, but they’ll have to be aware of what they are, and engaged in the discussions around them.