"Clients Tell Law Firms to 'Show Me the Money'"

Citing this report by Clemente communications, Bodine writes that: 

In the near-term, companies will be exploring all manner of corporate growth opportunities to transform themselves in an effort to either realize cost-reduction synergies or to support wholesale shifts in strategy. Legal, financial, and strategy experts will invariably be required for those companies pursuing mergers, corporate combinations, and other deal-based growth opportunities.

So what can law firms do to serve as advisers and counsel to companies trying to make strategic shifts? Bodine offers more guidance in this longer piece at LawMarketing.com. First, lawyers should develop a good chemistry with their clients so that they can gain the degree of trust needed to serve as a strategic adviser. Lawyers also need to be experts in the field and well versed in new trends that can help clients grow. And despite the fact that most legal work can now be performed remotely, many companies are still seeking out small and regional law firms in close proximity to the company's headquarters.

It used to be the lawyers who could say to clients: "Show me the money" and we'll represent you. Perhaps the tables have finally turned. Lawyers are being asked to justify their worth and play a proactive role in helping companies re-create themselves. The only question now is which law firms are up to the task?"