Business Strategy

Business Strategy is the master plan: Determining the guiding principles and direction of a law firm or legal service company.

Business Strategy answers the ‘why’ — Foundational reasoning behind corporate decisions of the business as a whole.

Business Strategy provides principles and direction for: Why certain types of work will/will not be accepted and delivered to target markets; Why and circumstances under which the firm or company will operate in target markets; Why current and prospective clients, and client work are tiered and valued; Why specific expertise, talent and temperaments are mandatory; and, Why operational management is mandated to execute

Business Strategy is the root strategy and fundamental to success.

It is also rare.

Within many law firms and legal service companies, business strategy is nonexistent. which can manifest in internal struggles ultimately ending in turnover, financial hardship, takeover or dissolution.