Law firm strategy in a buyer’s market

 Today’s post is by Jordan Furlong about his new book, ‘Law Firm Strategy in a Buyer’s Market’.

“Strategy” is a widely used and frequently misunderstood term in law firms. Ask most lawyers about their firm’s strategy, and they’ll think back to that time when the firm’s leadership team took several meetings and at least one offsite retreat to come up with a grand vision for the firm, eventually expressed in a handsome bound document that now occupies the rarely accessed top shelf in their office. (Editor: The truth of Jordan’s observation is not limited law firms.)

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The intangible law firm

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The party is over! Navigating the multi-polar legal market

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You’re not selling what we’re buying

Demand is flat or falling at large law firms, says the newest Wells Fargo survey released yesterday. Revenue is now being driven solely by hourly rate increases, the last remaining income enhancement button that law firms can press and one they will presumably continue to press until it no longer responds. This is not an especially new development: as has been the case every year since 2011, the 2015 Altman Weil survey of Chief Legal Officers found that more law departments decreased their spend on outside law firms than increased it.

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What Makes Uber Tick, and What Lawyers Can Learn From It

What Makes Uber Tick, and What Lawyers Can Learn From It is written by Jordan Furlong and was originally published on Lawyerist.com on June 8th, 2016. It is reproduced on Dialogue, the blog of Remaking Law Firms: Why & How with permission from Sam Glover, Founder and Editor-in-Chief of  Lawyerist, and author Jordan Furlong.

I keep hearing people say that some innovation or other will become ‘Uber for law’. Personally, I have a hard time seeing it.

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