Forbes has published an article by Firesign’s CEO, Katherine Hollar Barnard, on how law firms can safeguard their businesses before a potential economic slump. The piece, “Is Your Law Firm Ready for 2020? Resolve to be Recession-Proof,” posted December 4, 2019.
In it, Barnard discusses three marketing resolutions that can improve law firms’ positions in 2020 – and why they should. She writes:
Depending on who you believe, a recession is likely next month, next year or later. Timing issues aside, as a lawyer, you are in the risk management business, so it’s critical to safeguard your business before a potential economic slump.
To be sure, law firms will have myriad concerns on the expense side, from overhead to compensation. However, focused attention on the other side of the ledger — stimulating firm revenue — can alleviate the need for drastic cuts and tough decisions.
The full Forbes article is available here.