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How Managing Shareholders Can Help Their Firms Thrive (During a Tragedy), written by Leslie DuFresne

While law firms needed to jump into triage mode when shelter-in-place orders first rolled through, it seems that firms are now in a holding pattern. As law firm leaders focus on balancing the management of day-to-day remote operations with the increased demands for faster turnaround times from clients, one thing is being overlooked. One big thing. Vision!

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Navigating the Coronavirus Pandemic: How Firms are Aiding Clients and Running Their Own Operations

I just finished a webinar by Law.com entitled Navigating the Coronavirus Pandemic: How Firms are Aiding Clients and Running Their Own Operations. There were some great nuggets I thought I would pass on in case you did not dial in.   As always, I am here to help support my clients and friends in the legal community in any way I can.

“Much of this book is being written as we read it” was the common thread of today’s webinar but here are my top take-aways:

What should law firms be doing for their clients?

  • Offer a second lawyer to clients – now is the time to show clients you have the bandwidth to handle whatever they can throw at you and that you have a succession plan in place should you become unavailable
  • Take the lead on as much as possible for the client
  • Buy them time
  • Provide helpful, practical advice based on the client’s specific needs – stay hyper focused
  • Consider rolling out strategies that you used during the Great Recession that could apply now
    • Discounts – clients are worried about their economics as well and this shows you are sensitive to their needs and that you are looking at the long-term health of your relationship with them
    • Post-pone non-critical tasks to when their cash flow returns
    • Step up and provide “service” items at a lower cost – look for value-adds that can be provided by others in your firm that are not at premium rates

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