Planning for 2021 - Legal Edition
2020 has been a year like no other and one that many would like to forget. Many law firms are beginning to plan for an unpredictable 2021, so we have listed 4 tips that will help your firm with this uncharted task.
Start from the drawing board
Many businesses base their new year plans off the previous year. While this may have been an effective method in the past, it is unlikely this method will be successful when planning for 2021.
Sitting down with the partners and decision makers of your firm for a 2021 strategy day will help your firm to devise a plan which will adapt to and benefit from the new economy.
Create multiple 2021 plans
2020 has been an unpredictable year for every industry throughout the world and this uncertainty is likely to carry over to 2021. Therefore, to give your law firm the best chance of navigating this ‘new normal’, it is beneficial to create multiple plans for your firm.
When creating the plans, it is important to consider how easy each plan is to implement because, as we have seen this year, the economy can transform in a matter of days. Having multiple plans will ensure your firm is ready for whatever 2021 could bring.
Most of 2020 has been impacted by COVID-19. While it will be difficult to plan and predict a budget for 2021, referring to the 2020 profit and loss statements and your reports from throughout the year can assist your law firm in developing budgets for the current economy.
Outsourcing can allow your law firm to be adaptable to the many changes that may arise in an unpredictable 20201.
With APT, your contract encompasses more than just offshore staff. We offer a full service, including:
PROCESS DESIGN – to ensure your business is operating at the highest efficiency and outlining what areas need improvement.
TECHNOLOGY – helping you get the most out of your current software and offering design of new technology to improve your processes and delivery.
PEOPLE – if you have any processes or roles that could be more efficient offshore, we provide people who not only have a degree in the legal or financial industry, but also have years of experience in Western countries and India.