Date post: | 22-Jan-2018 |
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Being Text of a Presentation by
Hon Justice Dr. Nnamdi Dimgba
Tsedaqah Attorneys 2015 Retreat held at Virgin Rose Resorts, Plot 1231A, Bishop Oluwole Street, Off Akin
Adesola, Victoria Island on Saturday, December 12, 2015
Outline
Introduction
Conceptual Clarification
Issues, Challenges and Prospects
Conclusion
WHERE DO WE GO FROM HERE?
INTRODUCTION It is indeed beyond cavil that nothing good comes
easily and truly, most great things starts small. It is equally true that little is a master of plenty; same goes for every institution (including a law firm) aspiring for an elevated status.
Without attempting to say the obvious, one needs no soothsayer to come to the realization that a transition from a small-sized firm to a mid-size one is not surely without its challenges, even though it does have its prospects.
CONCEPTUAL CLARIFICATION What is a small-sized law firm and a
medium-sized law firm?
What determines the classification into small sized law firm or medium sized law firm is the size and number of offices - American University Washington College of Law
ISSUES, CHALLENGES AND PROSPECTS Resistance to Change
Fear of the unknown
Staying within one’s comfort zone
Management skills
Technical expertise
Adequate human resources/ human capital
Adequate material resources and facilities
ISSUES, CHALLENGES AND PROSPECTS (CONTD)
How do you achieve effective firm governance, organization and administration?
What is the market perception of the firm?
What are the firm’s objectives or vision?
Where do you see the firm in the next five, ten or twenty years?
What is your blueprint for the firm?
ISSUES, PROSPECTS AND CHALLENGES (CONTD)
Advances in technology
The world has become a global village
Clients demand/expectations
Competition
Transactional practice
Time/Speed/Accuracy/Quality
TEN COMMANDMENTS
CM 1 – Blessed are they who are ready to take risks
worth taking
CM 2 – Blessed are they who employ the best hands
CM 3 - Blessed are those who are adequately prepared
for the future
CM 4 - Thou shalt have a good succession plan
CM 5 -Thou shalt add more value to your client
TEN COMMANDMENTS (CONTD) CM 6 – Blessed are those who employ lawyers
that have Business Development (BD) skills
CM 7 – Thou shall strike a balance between law
practice as a profession and business
CM 8 - Blessed are those whose build
institutions that outlive them
TEN COMMANDMENTS (CONTD) Thou shall continue to triumph over
economic depression and continue to flourish as well as abound in all good things
Thy price shall be competitive and shall continue to exceed your clients expectations, while rewarding your employees as your practice flourish and your clientele increases
CONCLUSION Borrowing the words of Alvin Toffler, an illiterate of the 21st
century is not only one who can neither read nor write but one who cannot learn, unlearn and relearn.
Thus, if there is anytime to deploy expertise and even explore new areas of law by law firms contemplating transition, I can make bold to say that the time is now!
If there is anytime to take get the best hands, adequate human and material resources to run a world class firm, I also make bold to say that the time is now!!
If there is ever anytime to add more value to clients through the application of the 21st century technology, while ensuring quality service at the best competitive price in a first-class work environment, then I say the time is now!!!
THANK YOU