Does your law firm understand the differences between statements of Vision, Mission, Core Values, Goals, and Objectives?
- Vision (a verbal image of what you ultimately want to achieve)
- Mission (your firm’s purpose and reason for existence)
- Core Values (your firm’s beliefs, brand, and identity)
- Goals (the results you desire to accomplish)
- Objectives (measurable targets along the path to goals)
Start With Your Law Firm’s Core Values
We believe the most important statement is core value. So we want to ask you, have you ever come across a company’s core values? You might say no because you don’t know how a company would even present that. Well chances are you probably have, even if you did not realize it at the time. Core values are simple statements to define a company’s corporate culture and guide a company’s way of working.
For example, Sony’s values include dreams and curiosity, integrity and sincerity, diversity, and sustainability. Whereas Microsoft’s values are respect, integrity, and accountability. Microsoft even takes it a step further and puts its mission into action through additional values, such as innovation, diversity and inclusion, corporate social responsibility, and trustworthy computing.
When starting with core values, everything else can fall into place, or at the very least, be able to figure out, if you’re not sure.
For example, core values can help you discover your law firm’s vision and begin that process. When many lawyers begin the process for the first time, they will begin to work on gathering their law firm’s vision, but we recommend that you define your finalized core values first. As we stated above, core values can help you discover your law firm’s vision, however, core values are even more than that. Core values are the building blocks for your law firm’s vision and will not only help lead you to the vision, but also to the mission, goals, and objectives for your firm.
With that being said, core values are not the only important factor in your law firm’s marketing strategy. Strategic management is also key in your law firm’s marketing strategy. So, what is strategic management?
How To Use Strategic Management In Your Law Firm
Strategic management is the combination of these items as well as others which involves ongoing planning, monitoring, analysis, and assessment of all the necessities your law firm needs to meet your goals and objectives.
Having a defined process for managing strategies will help your law firm make logical decisions and develop new goals quickly in order to keep pace with evolving technology, market, and business conditions. Strategic management from Leads To Cases will help you gain competitive advantage, improve market share and plan for your future.
Strategic management offers many benefits to law firms that use it, including:
- Competitive Advantage
- Achieving Goals
- Sustainable Growth
- Case Generation
The branding process helps you create a stronger connection with your clients and employees. It boosts recognition and helps build trust and rapport with the community. All of the items we have discussed with you above are pieces of your branding process that helps create a clear vision for your team to enact your firm’s mission and purpose each day.
Once you understand your current process, we will help you analyze the details. What is working? What is not working? What can be done better? We will then answer any questions that help solidify the necessary elements of your strategic plan.
Our next step is then to move into a personalized SWOT analysis specifically for your firm, also known as the identification of strengths, weaknesses, opportunities, and threats.
You may be asking yourself, what is that, and how does it affect my firm? Well, to dive more in-depth, SWOT Analysis is a simple tool that can help you to analyze what your company does best right now, and what you need to work on. This tool makes it much easier to devise a successful strategy for the future. However, SWOT can also reveal areas of the business that are holding you back, or areas that your competitors could exploit if you don’t protect yourself.
Breaking Down SWOT
So let’s break SWOT down,
- Strengths – Strengths are things that your organization does particularly well, or in a way that distinguishes you from your competitors. So, in other words, think about your competitors, and now think about the advantages your organization has over the other organizations. These advantages might include but aren’t limited to the motivation of your staff, access to certain materials, or a strong set of manufacturing processes. So, we leave you with the question, what do you do better than anyone else?
- Weaknesses – Weaknesses, like strengths, are inherent features of your organization, every organization has one, so it is very important to focus on your people, resources, systems, and procedures. Think about any general ways you can improve, specific things you could be doing better or putting more effort into, and the sorts of practices you should avoid.
- Opportunities – Opportunities are openings or chances for something positive to happen, but you’ll need to claim them for yourself! These usually happen from situations outside your organization and require an eye to what might happen in the future. They might arise as developments in the market you serve, or in the technology you use.
- Threats – Threats can include anything that has the potential to negatively affect your business from the outside. For example, things such as supply-chain problems, shifts in market requirements, or a shortage of recruits. It is key for your law firm to anticipate threats and to take action against them. Failure to do so could result in growth stalls for your firm by becoming a victim to them. Also be sure to explore whether your organization is especially exposed to external challenges. Do you have bad debt or cash-flow problems that could make you vulnerable to even small changes in your market? This is the kind of threat that can seriously damage your business, so be alert.
Take the first step today, GET YOUR BLUEPRINT (ROADMAP), and schedule a consultation call, and let’s uncover what can help your law firm reach the next level. Bookings are limited, schedule your appointment today.