2017 LMASE Regional Conference Keynote Speaker Jordan Furlong, 2 Q&A's
With disruption in the legal industry and as client demands continue to increase, what are some ways firms can adapt?
Since law firms are such large and complex beasts, and since there are so many things that could be done better in law firms, you could start the adaptation process almost anywhere. Start with small and fast change -- find an easy win or two, something that won't take much time and effort and/or won't generate much resistance from powerful people. But it should be something measurable -- take "before and after" pictures of the target of your adaptation efforts, to show how things improved. The point is to start with small changes that generate noticeable improvements in profit, prestige, and/or power for the firm and its decision-makers, to begin establishing a track record. Your early small wins won't guarantee later big ones, of course, but they give you a place to start and momentum to follow up.
Can you provide a glimpse/background of what your presentation looks like?
My plan is to summarize the three most important changes in the corporate legal market -- the emergence of lawyer and law firm substitutes, the transformation of legal work, and the emergence of an entirely new type of legal demand -- before going on to describe the kind of responses law firms should make to these new market conditions. I intend to focus especially on aspects of the marketing and business development function in law firms, especially as it connects with areas of rising importance such as knowledge engineering, client partnerships, and strategic planning. And maybe a musical number or two. Or not.
Catch Jordan Furlong at the LMASE Conference as he discusses the Future of Law Firms.