I have been linked to the world of professional firms for 25 years. I have been the Manager of the Official Association of Commercial and Business Graduates of the Balearic Islands for almost 20 years, a Corporation integrated in the Spanish General Council of Economists. General Council of Economists of Spain. I have spent part of my later professional life in Italy and I am currently Portfolio Director at Confialia, business consultants . All this has allowed me to have a panoramic view of how professional firms are in the Balearic Islands, but also in relation to the rest of Spain and, as a consequence, to be able to compare them with the specific Italian reality: firms must evolve and join forces, this is the future. At Confialia,we have created a model and we are not afraid to share it. We are convinced that together we will achieve better goals. If, after reading this short article, I have caught your attention, I am at your disposal to design together the future of our law firms.
One of the best conclusions I have drawn from this entire professional journey is that the like is an ally, not a competitor.
If we look back, we can see the enormous change that has taken place in this type of structure.
It has changed virtually everything and, more significantly, continues to do so, and more and more intensively:
- Computerisation of most processes
- The arrival of large multinationals in the field of business consultancy in the Balearic Islands
- The multitude of offices from countries representing the major European economies that are opening delegations in Spain and, of course, in the Balearic Islands.
- Ongoing brand partnerships
We are presented with a panorama that has nothing to do with that of 25 years ago, nor with that of 10 years ago, and will have little to do with what we will have in 5 years' time.
But does all this mean that the sector is fully healthy and ready to absorb all that is to come?
If we are self-critical and honest with ourselves, the answer is no. Coaching is in vogue in this area. We receive an enormous amount of encouragement to introduce marketing, commercialisation or management techniques. There is an increasing number of professional associations of law firms seeking development, innovation and visibility for the professional group they represent, but let's not fool ourselves: The change needed is much more profound.
It is not enough to belong to an association. It is not enough to hire someone to manage our social networks. Paying for a development and marketing plan if we are not capable of executing it is not the way to go either.
We must change the essence of professional practices and apply those recipes that we often give to other entrepreneurs. I say "other entrepreneurs" consciously. It is essential to understand the management of professional practices as a service company. Professionalising this management, creating strategic alliances, empowering professionals and selling added value is the way forward. There is little room left for management and a lot for personalised attention and data analysis.
The customer of today is not the same as the customer of 25 years ago.
The level of education, the ability to search for information and objective contrast make today's customer much more demanding. It is a customer who wants much more than an increasingly automated management, and therefore more within their reach. Today's customer needs analysis and personalised attention. It makes no difference whether we are talking about the client of a business consultancy, a law firm or an architectural firm. It also makes no difference whether we are talking about a basic or premium fee client. Gone are the days when the client went to the professional like the sick person who went to the doctor and put himself in his hands. Nowadays, the customer knows very well what he wants. The customer contrasts, compares, demands, analyses, proposes, innovates...
On the other hand, economic scenarios are changing at a dizzying pace, as are regulations, and professional practices have no choice but to keep pace or die.
Law firms need to evolve and join forces.
Improved access to university education for practically all strata of society has also contributed to making competition between professionals much more aggressive. We still believe that the competition is our peers when, in my opinion, the competition is technological innovation, the Administration itself and the large multinational consultancy companies. That is where our real threat lies.
My peer is my ally, not my competition.
We have to understand that we must evolve, join forces to empower the professional and not in their singularity. This can only be achieved by professionalising the management of law firms, of those companies that need daily attention and that have, like all of them, problems of structure, organisation, human resources, etc. Law firms, companies, that are destined to merge with others as a basic strategy to strengthen themselves and, above all, to free up capacities that allow them to offer greater added value and compete with guarantees of success. Law firms must evolve and join forces.
Are you similar? Let's create alliances, not compete: Law firms must evolve and join forces.
Contact us and we will explain to you what our proposal for the future consists of. At Confialia, business consultants, we are not afraid to share. We know that it is the path to success.