Change or die is an expression that’s been around a long time in the business world. Well legal industry, get used to the expression and live by it. Moving forward things will not look like it did pre-recession. Your clients will not continue to pay over-exorbitant fees. They will look for better value and be open to using non-traditional sources for their legal work. They will demand more. The insulation so to speak, is over.
If you are one of those lawyers that continues to think nothing will change, I ask you, what was your second career choice? You may need to revert to it and sooner than later. In Canada if we want to see the future of legal services, all we have to do is look south of the border and even overseas.
But this also presents abundant opportunities for those lawyers and law firms who are open to doing things differently. Go and speak with your clients before they come to you. Find out exactly what they need from you. How you can better accommodate them? What different models do you or your firm need to create?
Change or die. It’s only doom and gloom if you don’t take hede.