Strategic Planning

Partners in Strategic Growth

The strategic allocation of available resources is an imperative for achieving market leadership. Zeughauser Group has an unparalleled track record in creating strategic growth plans tailored to our clients’ aspirations, leveraging our insight into the legal marketplace as well as our leadership experience working with major law firms and their clients.

Our Experience

When you engage Zeughauser Group for growth planning, you are choosing highly experienced and creative partners and trusted advisors, all of whom have served in top leadership positions. The depth and breadth of our industry experience, our extensive legal industry planning expertise, and our reputation for helping firms earn partner buy-in and commitment are among the benefits of working with our team.

Our Approach

We begin by creating a tailored planning framework that will enable firm leaders to build and articulate a shared vision of the firm's future. A well-conceived vision speaks to the position that your firm would like to occupy in its markets and articulates your distinctive competitive advantage. It also drives the development of your firm's goals and the allocation of your resources to achieve them.

Successful strategic planning requires buy-in from your firm's partners. As we help you formulate your vision and the ensuing plan, we facilitate and manage a process of strategic conversations, thinking, and analysis that fosters buy-in. We guide strategic thinking and decision making into an actionable plan with clear steps for implementation.

We have helped our clients create comprehensive firmwide plans for growth from the ground up as well as retool existing plans. We also work with firms to develop plans at the department, practice group, industry, and office levels. We recognize that not all firms aspire to be big in size or vast in footprint, but all want to grow stronger by enhancing their culture and financial performance.

Depending on your needs, the planning process may include one or more of the following objectives:

  • Aligning geographic footprint, practice group strengths, industry penetration, pricing, branding, positioning, and internal and external communications with strategy
  • Aligning partnership structure, governance, and compensation systems with financial and lawyer performance goals
  • Articulating a vision for the future
  • Building and communicating distinctive competitive advantages
  • Defining and implementing performance metrics
  • Developing effective pricing strategies
  • Developing merger and acquisition strategies
  • Improving financial performance
  • Planning for leadership succession
  • Recruiting, retaining, and managing top talent
  • Strengthening culture

Law Firms Turn to Layoffs Amid Slowing Demand

A hiring spree during recent years left many firms overstaffed. Citing economic headwinds and slowing demand, some large law firms are tightening their belts, shrinking their attorney ranks and eliminating professional staff. The decline in demand for legal work last year followed years of growth driven by a boom in mergers-and-acquisitions work, prompting hiring sprees accompanied by six-figure bonuses for even lower-level attorneys. Peter Zeughauser observes that the demand for legal work “has fallen off the cliff. The firms that were really red hot and significantly over-hired are the first movers to lay people off.”

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Cravath Salary Raises Pressure Rivals Who Can’t Afford Match

Cravath Swaine & Moore’s move to raise associate salaries beyond the scale set by its rival Milbank pressures less-profitable firms to ponder pay bumps they can’t afford. While firms in the top tiers of revenue and profitability are likely to follow Cravath’s lead - and several already have - others in the industry are ill-positioned to do so. Peter Zeughauser observes that the prospect of Cravath-type raises will stress a lot of firms. Some will avoid such raises and suffer the fall-out of “more poaching” from firms that can pay top compensation.

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State of DEI Content: What Clients Expect from Law Firms and Professional Services Providers

Greentarget and Zeughauser Group’s latest State of Digital & Content Marketing Survey — our first in three years — revealed that clients of professional services firms see diversity, equity and inclusion (DEI) as a key business priority.

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