Right now, life seems a little unstable – both for business and for many families and individuals.
And that goes for law firms too, as some departments and Practice areas go into overdrive, whilst others shudder to a halt (for now). Businesses, both domestic and international, and cross-border supply chains are being hit hard. Some need urgent legal advice now, whilst others will need legal representation when the Courts re-open and a surge of claim and counter-claim begins. Inevitably, there will be restructuring, many more bankruptcies and insolvencies and a wave of insurance challenges.
And it will be global.
Which is why maintaining your trusted Mackrell International connections is going to be critical to help your clients and theirs in the coming months, if not already. And information and idea-sharing between law firms who trust each other, know each other’s calibre and who can share openly is critical - perhaps more important than ever.
As a network of independent firms, our agility and competitive fee structure (certainly compared to the big law firms) may give us a strong competitive advantage. In the post-crisis aftermath, clients will want results fast, across multiple jurisdictions and, with budgets under pressure, showing value for money.
Your Mackrell International membership is an investment – in time as well as money (as lawyers, we know they are the same thing), but perhaps most importantly, in relationships. It’s why we consider each other ‘Family’.
And it’s a view shared by Ross Fishman, legal marketing guru and author of, “We’re Smart, We’re Old and We’re the Best at Everything” in his recent article:
https://www.fishmanmarketing.com/top-five-budget-items-law-firms-will-slash-in-2020/
As Ross puts it: “It can take years to establish a sufficiently visible presence in a network to generate a steady flow of referrals. It’d be marketing malpractice to squander all that effort … This year, of course, it will be more difficult to prove value, with conferences being cancelled and less business to refer around. But I’d urge member firms to maintain select memberships while working aggressively to build their visibility. Research shows that firms that continue marketing aggressively in a recession exit in much stronger position than their competitors.”
At Mackrell International, wherever you are across the world, we’re here for you.