Saturday, April 12, 2008

Law Firm Restructuring: Anderson Kill sets an Example

I just came across an interesting announcement from earlier this year that merits a mention in terms of law firm marketing and strategic planning.

The New York-based law firm of Anderson Kill & Olick, P.C. was faced with the amicable departure of 69 shareholders to Reed Smith after terminating merger discussions. Taking a proactive stance, Anderson Kill issued a press release announcing that it was refocusing its practice on the firm's core competencies in about six key legal practice areas. Read the release here: http://www.andersonkill.com/news_article.asp?newsid=1113

There are times when downsizing or refocusing is the right step in a firm's business development cycle. Such a dramatic action allows you to restate your mission and re-energize the team. In today's turbulent market conditions, perhaps your own firm will benefit from a refocusing or streamlining action.

The tighter your focus, the more effectively you can allocate resources. You will also be able to develop and communicate your USP (unique selling proposition) to the marketplace more forcefully.

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