Economy Tanking = Golden Opportunity for Law Firms?

On Sept. 2nd, there was an interesting post on 3 Geeks and a Law Blog concerning the downturn in the economy and the opportunity it provides to right-size, getting rid of slackers and the sacred cows that are not carrying their weight.

You can look at this two ways. Obviously the downturn in the economy forces you to make some tough decisions and look at certain situations/people under a more intense light. On the other hand, any economic situation (downturn, boom, recession, depression) also provides a wealth of opportunities if you are looking in the right place and have your finger on the pulse on what the situation requires. For example, Bill Gates started Microsoft in a recession –- who knew?

In the area of support services for law firms, this economic downturn has afforded law firms an opportunity to change the way services are provided to end users and clients. The smart ones have used this opportunity to not only reduce costs, but increase overall efficiency on the operational side, asking hard-hitting questions like: “Do you really need that onsite support services center?

The economics of the current business situation has also offered a tremendous opportunity in regard to cost recovery, so firms can recoup costs in a more accurate and fair way that clients accept, and covers more of your costs in the process.

What do you think?  Has this economic downturn been an opportunity to “right-size” or has it provided you a golden opportunity to re-invent how you deliver your services?

2018-09-19T12:30:36+00:00