The law firm of the future: How to prepare for success
Chris Bull, consultant at Edge International and former COO for Osborne Clarke — joined Amy Bruce, head of marketing at Osprey Approach, for episode 11 of the Empowering Law Firm Leaders podcast
In this conversation, Chris Bull, consultant at Edge International and former COO for Osborne Clarke, discusses the changes and innovations he expects across the sector in the future and how that impacts SME firms now, as well as the most effective way to spend your tech budget and maximise ROI.
- The impact of the legal operations role
- How to spend your IT budget
- Large law practices to inspire SME firms
- How to encourage experimentation and innovation
- What to prioritise to thrive in 2030
Chris Bull’s three essentials for running a successful modern law firm
1. A client-centric approach
While many firms claim to prioritise their clients, Bull highlights 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.” He challenges firms to measure their success not just by financial metrics but by the value they add to their clients.
2. A restless, radical, and challenging mindset
Bull advocates for a mindset that is restless, radical and challenging. He believes that law firms must constantly question the status quo and be willing to innovate and 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,” he advises.
3. Have a unifying purpose
Bull highlights the importance of having a clear, shared purpose that aligns with the firm’s values and goals. This purpose should guide all aspects of the firm’s operations, from client interactions to internal processes. Bull notes that purpose can sometimes be dismissed as superficial, however, he argues that purpose is fundamental and should lead to profit, not be balanced against it. “Understand your purpose. Engage people with it. Get people enthused by it. Live by it, do it well and profit will be the consequence of that,” he explains.
How SME law firms should invest their IT budget
Both the LPM Frontiers and Lexis Nexis Bellwether reports show that many SMEs will be increasing tech spend in the coming 12 months, but how should firms be spending their budget to maximise return on investment (ROI)?
Bull believes that 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 mean, particularly I think the SaaS model is driving quite a lot of year-on-year costs.”
AI, particularly generative AI, is another major factor influencing tech budgets. Bull highlights that AI, including tools like Microsoft’s Copilot, will significantly drive law firm budgets in the coming years. He mentions, “AI will be the big driver of law firm budgets because fundamentally Copilot… is going to cost you more money.” Despite the costs, he believes that firms will 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. Bull notes 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. He observes, “We’re all starting to say that private client work and family and company commercial and employment are different, and they’re done in different ways.”
Business intelligence and analytics tools are also areas where firms are spending money, as they tools provide valuable insights and information. Bull acknowledges that while there is a risk of falling for AI hype, starting with trusted products and enhancing them with AI is a sensible approach.
How to adopt practices from large law firms to improve long-term success
Both large and small law firms can learn from each other, particularly in terms of mindset and strategic focus. Bull notes that larger firms, especially in the UK, have adopted more commercial approaches, often radically changing their models and being ambitious. He suggests that SMEs can look at larger firms for inspiration, particularly in how they think about growth and purpose.
Bull emphasises that size isn’t everything and that there are significant costs associated with running a large firm. He highlights the advantages smaller firms have in terms of agility and decision-making. Smaller firms can pivot and make changes more easily than larger firms, which often feel more conservative. He advises, “It’s a lot easier for you to make this call, make a decision, change direction, take action.”
AI and other technologies play a crucial role in bridging the resource gap for smaller firms. Bull explains that while AI is not free and can be expensive, it offers a cost-effective way to augment human resources. He notes, “AI is going to make a big difference to that. It won’t level the playing field for large firms who have AI too, but it can make your firm much more capable of delivering in the modern kind of the era.”
How to encourage experimentation and innovation
Leadership plays a crucial role in fostering change and innovation within law firms. He notes that while there are champions and advocates for change throughout firms, it is essential for leaders to actively support these initiatives: “The people at the top have to be positive about change.”
Bull advises 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.”
Bull believes that current training budgets are often insufficient, and there is a lack of focus on helping individuals become effective users of technology and managers of their own time. He stresses 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 explains, “We must help people become really good users of technology. Really good managers of their own time and their own life.”
A significant barrier to innovation is the lack of time and incentives for these individuals. Bull points out that many good initiatives fail because people are too focused on client work and meeting chargeable hours. He explains, “They just don’t have time and they’re not rewarded or incentivised.” Firm leaders need to address this by allocating time and resources to support these champions of innovation.
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.
His emphasis on learning from other sectors, leveraging AI, and encouraging innovation highlights the need for law firms to be agile and forward-thinking. 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 his exclusive advice on the importance of purpose and how it unifies and drives teams.
Listen on Spotify, Amazon Music, or YouTube now.
