The legal profession is old-fashioned, outdated and creaking under the weight of conservative traditions. According to the IBA Young Lawyers report, 20% of young lawyers want to leave the profession entirely, while a census wide report indicates 39% of law firm partners are eager to found their own firms. The writing's on the wall: It's a profession crying out for change.
Directors are subject to a fiduciary duty to act in the way they consider, in good faith, would be most likely to promote the success of the company for the benefit of its members as a whole. But how do we define success? Whilst success will generally mean a long-term increase in value, fundamentally, it is up to each director to decide, in good faith, whether it is appropriate for the company to take a particular course of action.
I’ve been in the legal industry for 13 years and, during that time, the billable hour and most people’s hatred of it has remained constant. Clients and lawyers both recognise the fundamental flaws that it presents, yet a seemingly insurmountable challenge prevents its demise: not knowing what to replace it with.
For many lawyers entering the legal industry, myself included, the bright shiny title of “Partner” is the ultimate goal. Fresh-faced, energized and motivated to work hard, I was one of many female lawyers to have embarked on the journey, blissfully ignorant of the concrete wall that lay ahead and the price that would have to be paid to knock it down.
Marketing a law firm isn’t easy because law is an inherently dull topic – unless you’re actually a lawyer you’re unlikely to find the nuts and bolts of recent legal case interesting, and even then it’s questionable! But, despite this, I believe law firms can do a lot more to make their social media marketing interesting and more effective, so this article sets out the three mistakes I see being made over and over again.