The latest Bellwether report from LexisNexis (The Art of Success: Why Independent Law Firms are Thriving) was published earlier this week.
As always, the Report is an interesting read (and I look forward to the next two publications later this year), but what caught my attention in this particular Report was the following definition of “success“:
Most independent law firms see success as a trinity of three important elements:
the quality of their expertise,
solid commercial logic,
commitment to treating staff and clients with respect.
Going on to say:
Being a ‘good’ lawyer isn’t just about knowing your law or being a skilled craftsman. It’s about understanding how to apply the law to serve your client’s business and personal needs. It’s also about exercising common sense. Having excellent people skills is as important as being commercially savvy.
Hands up, I have to say I wholly agree with all of the above (but I would add a few others).
But, “Most independent law firms see success” – I doubt that’s completely accurate, at least from an Australian law firm perspective.
My experience has been that most Australian law firms, independent or not, see success as a financial metric. And it doesn’t really matter how you reach that financial metric.
But wouldn’t it be a wonderful step in the right direction if we all printed out and used the above definition of success…