Peer to Peer Magazine

Fall 2018

The quarterly publication of the International Legal Technology Association

Issue link: http://epubs.iltanet.org/i/1048931

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12 • Practice Development – what services are you offering and how can you deliver those services most efficiently, predictably, and repeatedly? • Marketing/BD – how will you raise awareness and demand for your services both internally and externally? • Finance – what fee arrangements will you offer? What margin do you require? • HR/Staffing – how do you attract, develop, and retain top talent? What of the existing benefit structure should apply to the non-legal staff? • Business Intake – what are the risks - ethical, regulatory, economic, reputational - that the firm should consider when evaluating opportunities for this offering? • Facilities – where should the new staff reside and what is the ideal physical layout for the type of work that they do? • Technolo – what tools and applications does the team need that may be different from firm standard technolo? • Metrics and Reporting – how will you measure success in both the short and long terms? When do you expect the offering to break even? Conclusion With flat demand for legal services, innovative firms can increase revenue and better serve clients by offering non-legal services. Firms outside the U.S. are experiencing the opposite dynamic: traditionally non- legal firms, also seeking to maximize share of wallet, offering legal services. Succeeding in the non-legal marketplace requires firms to truly accentuate their strengths (trusted relationships, an army of salespeople, strong brands) and improve their weaknesses (pricing, project management, efficient delivery). The opportunities are there - seizing them starts with bold vision, leadership support, and commitment to tackle the challenge comprehensively. ILTA Succeeding in the non-legal marketplace requires firms to truly accentuate their strengths and improve their weaknesses. F I G U R E 1 : N E W M A R K E T O F F E R I N G B L U E P R I N T M A R K E T O F F E R I N G Market Positioning and Strategy Organizational Structure Practice Development Marketing/BD Finance HR/Staffing Business Intake Facilities Technology Metrics and Reporting

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