Posted by Legal Futures Associate Osprey Approach
Bull: Take nothing for granted
Chris Bull, consultant at Edge International and former chief operating officer at Osborne Clarke, joined Amy Bruce, head of marketing at Osprey Approach, for episode 11 of the Empowering Law Firm Leaders podcast.
Chris discussed the changes and innovations he expected across the sector and how that impacted SME firms now, as well as the most effective way to allocate tech budget and maximise return on investment (ROI).
Chris’s three essentials for running a successful modern law firm
A client-centric approach
While many firms claim to prioritise their clients, Chris highlighted the need for a deeper commitment: “Being client centric is different… [it’s] about being obsessed by the client, your current clients, your future clients, how they’re evolving, what they really want, what success looks like for them.”
Firms need to measure their success not just by financial metrics but by the value they add.
A restless, radical, and challenging mindset
Chris believed that law firms must constantly question the status quo and be willing to adapt. “Take nothing for granted. Never say ‘we’ve always done it this way’; never say ‘we’re lawyers and we’re different and we can’t do it the way other businesses can do it’.”
Have a unifying purpose
Chris stressed the importance of having a clear, shared purpose that aligned with the firm’s values and goals. This purpose should guide all aspects of the firm’s operations, from client interactions to internal processes.
Purpose can sometimes be dismissed as superficial, but he argued that it was fundamental and should lead to profit, not be balanced against it.
How SME law firms should invest their IT budget
Both the LPM Frontiers and Lexis Nexis Bellwether reports last year found that many SMEs will be increasing tech spend in the coming 12 months, but how should firms allocate budget to maximise ROI?
Chris said the increase in tech spend may simply be a reflection of increasing costs: “Everything is more expensive and tech is a lot more expensive… I think the SaaS model is driving quite a lot of year-on-year costs.”
Artificial intelligence (AI), particularly generative AI, is another major factor influencing tech budgets: “AI will be the big driver of law firm budgets because fundamentally Copilot… is going to cost you more money.” Despite this, Chris expected firms to invest in these technologies because of their potential to augment capabilities, especially for smaller firms that cannot afford large teams.
Additionally, there is growing interest in practice-specific tools and technologies. Chris noted that, while generic enterprise software offers consistency and economies of scale, there is a recognition that different areas of practice, such as private client work and commercial law, require tailored solutions.
How to adopt practices from large law firms to improve long-term success
Firms of all sizes can learn from each other, particularly in terms of mindset and strategic focus. Chris noted that larger firms, especially in the UK, have adopted more commercial approaches, often radically changing their models. He suggested that SMEs look at larger firms for inspiration, particularly in how they think about growth and purpose.
Chris highlighted the advantages smaller firms have in terms of agility; decision-making can pivot and make changes more easily than larger firms, which often feel more conservative: “It’s a lot easier for you to make this call, make a decision, change direction, take action.”
How to encourage experimentation and innovation
Leadership plays a crucial role in fostering change and innovation within law firms. While there are champions and advocates for change throughout firms, it is essential for leaders to actively support these initiatives.
Chris advised senior leaders to delegate and empower others within the firm to take the lead: “Encourage those people from wherever they are in your firm, your organisation, and really try hard not to discourage them or restrict them.”
Current training budgets are often insufficient, with a lack of focus on helping individuals become effective users of technology and managers of their own time. Chris stressed the importance of investing in training that enhances personal effectiveness and skills such as design thinking and the concept of a minimum viable product (MVP).
He pointed out that many good initiatives failed because there was too much focus on client work and meeting chargeable hours – something leaders need to address.
Preparing for the 2030 law firm
By adopting a client-centric approach, fostering a restless and challenging mindset, and unifying the firm with a clear purpose, law firms can navigate the complexities of the modern legal landscape.
The evolving role of legal operations, strategic investment in technology, and the importance of performance management are crucial elements that firms must embrace to drive efficiency, innovation, and client satisfaction.
By planning strategically for 2030 and working backwards to identify necessary steps, firms can ensure they are well-prepared to meet future challenges and opportunities.
Watch the full interview with Chris Bull now to discover more advice and guidance on preparing for success. You’ll also hear Chris’s exclusive advice on the importance of purpose and how it unifies and drives teams. Listen on Spotify, Amazon Music, or YouTube.
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