Preparing Your Firm for the Future
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1.

 

1. My firm has felt the need to change aspects of its business model in response to the transformation of the legal market evidenced by the actual or prospective entry of new players like Tesco, Co-Op, AA and Saga

2. My firm will need to address this transformation by developing the services it provides to its clients and the way it markets and sells them.

3. My firm will be actively considering the adoption of an alternative business structure envisaged by the Legal Services Act.

4. My firm will need to take advantage of the introduction of external capital investment permitted under the Legal Services Act in order to remain competitive.

5. My firm will need to bolster its management team with suitable non-lawyer business professionals in order to manage its business commercially and profitably.