The Law Firm Strategy:
Law Firm business is a serious business. Like other businesses, the core objective of this business is to establish an entity and earn profit as much as is possible. But it is one of those service sectors as well, where a little mistake can’t be afforded. Therefore Law Firms & the Lawyers should earn money but do not forget the cautions to be adopted that services always must be quality and based on honesty. Law Firm strategy is a simple strategy. Law Firm also has to define their audience or customers. This point can be understood with an example that if you are a family lawyer or family law firm then you should no open your law office in an industrial area or any free zone. It should be located in the centre of the city with easy access to the office. Family Law Firm is always approached by families, couples etc. Therefore it should be in the centre of the city or it should be nearby residential areas.
Law Firm should also describe its success:
Law Firm should also describe its success. What is the success limit of a Law Firm. What a Law Firm wants to achieve. Does the law firm want to open new and new branches? Does the law firm want to give franchises to other lawyers? Does the law firm only want to earn a name? Does the law firm has intentions to serve people? These are very important questions. Based on the definition of success, a law firm can design its manifesto, its services, its expertise and hire the team of lawyers. Law Firms can also define success through the number of cases law firm has in one single time. Few very large established law firms have more than 200 cases in a single time. Some have more than 500 cases in a single time. Therefore hundreds of lawyers do work for such companies as well. Such Law Firms are called very large scale law firms, which define success with a number of cases, number of winning cases and reputation in the market. The weak cases or cases with poor supporting documents are not usually taken by these Law Firms.
Law Firm also has to write a Business Constitution:
Law Firm also has to write a business constitution. It is seen few law firms have to close the operations or lose a large number of clients because they have no theory to follow. They work without a game plan and teamwork. Therefore they do not remain in the position of competing with others. A Law Firm must have to define its purpose, operations and objectives through a constitution. Law Firm also has to define its structure. Whether this is a Limited Liability Law Company or sole ownership in the Free Zone area. There are many Law Firms in Dubai working in these two separate categories. This is very helpful for a company to define its legal structure. For Law Firm business it is more than necessary.
Law Firm also has to make a market analysis. If you are much intending to offering a business or civil law services then you should target businesses. If your capacity is just to serve medium level companies then better be focused on the business in the region. Contact these businesses as much as you could and convey your messages to them. You can also sign a retainer ship agreement with these businesses. These businesses should be medium or large in sales volume, you can check any time. Law Firm must be having the capacity to deliver what it promises to others. Law Firms must be having resources and a team to deliver results. Law Firms must be knowing the importance of cost factors as well as the time required.