I’m excited to be continuing this 7-part series on Management Fundamentals; (FYI: If you have missed any of the previous 4 articles in the series, PILMMA members can access them all in the Members-only Toolkit) Now for what is one of my favorite Management Fundamentals:
Management Fundamentals No. 5: Anticipating Cutting Edge Technology
Anticipating Technology includes both products as well as business methodology and has never been more important to your firm’s growth than it is today. We have all seen the dramatic changes in law firm advertising brought about by the onset of the Internet and the resulting Social Medial Marketing snowball. Firms that appreciated and understood its potential at the outset were uniquely positioned to maximize their exposure and reap the initial lion’s share of the market, while everyone else was initially left in the dust, trying to understand how Social Media marketing works much less how to use it to be preeminent in their markets.
A law firm that does a good job of anticipating technology has these characteristics:
1. They have guidelines for making good business decisions by integrating technology and business planning.
2. There is a system for the law firm to anticipate future technological advances and to monitor trends.
3. The law firm technical leaders participate actively in the analysis of trends and the development of new technology at least to better quality services.
As your law firm conducts its annual review and sets goals for the coming year, you should be updating your facts and assumptions about all the elements of the plan. Technology and business consideration can be integrated as you take a look at ways to market and at the technology itself.
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Anticipating technology does not mean you have to do basic research and development, but it does mean that you do have to know what’s going on out there. What I’m really saying is you must anticipate the effects of technology. Your job isn’t to invent it; it’s to predict what might be invented. As Wayne Gretzky once said, “Skate to where the puck is going to be.”
That’s why management fundamental No. 5 refers to technology that changes the way people do business, such as the Internet, texting, phone apps and the Cloud.
The law firms that got in on the Internet at the beginning were very, very successful. The same thing has happened with texting and with services on the Cloud.
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By taking advantage of these technologies it increases efficiency, increases the bottom line, and gives much, much better client service. If you want to lead your market, you must mount a continuous search for products and services that are true innovations. Your clients may not even know they want these products or services until they see them.
If you are proactive and committed to being on the lookout for the technological advances happening around you, you will be able to reach more clients faster and more efficiently. (Staying abreast of the latest in Social Media Marketing, PPC, SEO, FB, YELP, etc.). You will also be able to communicate with your actual clients more efficiently and effectively (i.e., phone apps/ texting/ email/ digital medical records/ patient portals, etc) thereby increasing client satisfaction, quality of representation and staff efficiency. Likewise, staying abreast of technology for firm management means invaluable increases in overall productivity. (i.e., using the Cloud for data storage, implementing new software to implement and monitor cases, create up to date management reports and dashboards, streamline procedures, etc.)
By being a PILMMA member, you have already taken a critical step to staying abreast of the trends and advances in technology. We are always on the lookout for what is cutting edge in both marketing and management and try to share that information with our members via monthly Webinars and Teleseminars. This is also a hot topic in virtually all of our Mastermind groups, where firms share freely what they are discovering and implementing in their own firms, as well as what methods or products simply don’t work as well as they might be advertised. Don’t hesitate to use the PILMMA listserv for instant feedback from our members across the country who can weigh in on the pros and cons of a particular technology or vendor. This kind of honest input from other lawyers can be an invaluable tool, saving you both time and money. So, the key is to recognize the importance of advancing technology, in terms of its ability to improve the way you market, as well as how you communicate with your clients and how you manage your firm. You must be a continual learner. If technology isn’t your strong suit, then designate someone else in your firm to be that technology sleuth. (Leveraging your strengths, and Delegating your Weaknesses)
Take action! Go to the latest technology trade shows or conferences, from the ABA tech conference to those outside the legal arena. If possible, plan on attending PILMMA’s upcoming 2019 Internet Domination Bootcamp in Las Vegas September 12-13. I guarantee you will learn something new and innovative in the world of law firm marketing and management technology or your money back! Stay connected to what is happening in the world by reading periodicals and newspapers.
If you truly want to be successful in the 21st Century, staying abreast of cutting-edge technology is absolutely essential—a Management Fundamental!
