LACK OF innovation spells doom for any business. Any organisation which is not changing as fast or faster than its clients will almost certainly fail; it is merely a question of when. This is a certainty for law firms, given the changing legal landscape, shifting client priorities, and the appearance of potentially disruptive influences in any number of industries and formerly stable business models.
How will this book help your firm stay competitive?
In three key steps – thinking, analysis, and action – this book sets out a disciplined process which is designed to enable the creation and delivery of an innovation agenda that will not only to deliver genuine value for clients, but will also enable your firm to capture some of that value to improve its competitive position and profitability.
The steps in the process are illustrated with numerous examples taken from recognised innovations already undertaken by law firms in the UK, US, Europe, and Australia, as well as examples taken from outside the profession.
Key processes are discussed in depth which can take your firm from merely talking about the desirability of developing an innovation agenda to actually conceiving, testing, and delivering a genuinely useful and profitable product or service.
Tools and templates are provided to assist in the creation of ‘minimum viable products’, testing key assumptions, ascertaining what the critical ‘jobs to be done’ are for a client, and understanding where and how real value can be added.
In addition, essential topics such as cash flow modelling, business model analysis, innovation culture, marketing plans, and pricing and client testing are also dealt with in depth.
Lean Innovation for Lawyers is a must-read for every law firm leader.
- Chapter 1: The nature of innovation
- Chapter 2: Beliefs, attitude, and values which encourage ‘innovation thinking'
- Chapter 3: Analysis – Where to focus your innovation agenda – an overview
- Chapter 4: How to begin your analysis? Start with your own business model
- Chapter 5: Core clients you currently serve with your existing business model
- Chapter 6: Create the client business model
- Chapter 7: Where should you target your innovation agenda in light of the client business model?
- Chapter 8: The search continues – ‘PESTEL’
- Chapter 9: Change in law firm regulatory environment – Unfettering the firm’s business model
- Chapter 10: Once an opportunity is identified what next? Creating and driving an innovation agenda
- Chapter 11: Assessing the proposal and testing key assumptions
- Chapter 12: Review, approval, and launch
- Chapter 13: The innovation committee’s brief