2021 Business Planning. The 10 “Must-Haves” for a Digitally Savvy Law Firm
2020 has been a year to remember but not for the right reasons. Covid-19, lockdowns, Stock Market turmoil and US elections have tested the best of us and many will look forward to leaving it behind. As we all prepare to enter 2021 for many firms that means the start of business planning. This year it will be business planning against a very uncertain backdrop. Notwithstanding the news of vaccines emerging we are far from being out of the woods and as we all know the financial ramifications will be here for years to come. We all need to recalibrate, look at our operating models and continue to improve our efficiency. We need to refocus our approach.
On a positive though, for many firms technology has probably enjoyed its finest hour during the last 8 months. Many firms have been able to adjust to lockdown homeworking successfully. Zoom and Teams are now household names and technology has allowed firms to remain operational in a way that would not perhaps have been possible had the pandemic hit 10 years earlier. Ironically though this success has led to an increase in expectations and the acceleration of everything.
The world has changed forever and law firms who recognise this (and recognise their businesses need to change) now need to approach business planning in a very different way.