Strategic planning: A must-do for law firms
Abstract: Strategic planning has evolved significantly from a trendy buzzword in the early 1980s to a must-do process that helps firms prepare for long-term goals and increase profitability. But many law firms don’t have a strategic plan. Why? Some consider the planning process to be too time-consuming and distracting from work that’s perceived as more important, such as business development and client relations. Others view the process as immeasurable, and therefore futile. Still other firms may not get the necessary support from partners and other leadership, which can doom the process from the outset. This article reviews the many benefits to strategic planning that shouldn’t be overlooked and explains how to make the process less difficult than it may sound.