Matthew A. Taylor, Duane Morris chairman and CEO
What’s one of the biggest challenges law firms face today?
We are focused on clients who need their law firm to be there for them 24/7. Sometimes, recognizing what clients want is the challenge, but it is something to never lose sight of. I have found that having a clear value proposition is essential. The mission of delivering value is why having a productive, collaborative and adaptive firm culture is so important. It applies instead internally as well as with clients. We are very proud of our deeply rooted culture of inclusion and collegiality at Duane Morris. We work hard at it, but the results are clear: clients recognize and appreciate our innovative and cost efficient legal services which are a direct result of the investments we make in our culture.
Conversely, name one opportunity available to law firms in the current climate.
Developing and implementing a productive go-to-market strategy is essential and can represent a real growth opportunity for law firms of any size. Three years ago, we developed an industry focus structure that supplemented our practice groups and our clients reacted favorably. Not only does it bring us closer to clients; internally, this enables us to collaborate toward delivering multifaceted industry expertise that transcends practice groups.
In 50 words or less, what does the legal profession need to do to prepare the next generation of lawyers?
Along with training and providing meaningful professional opportunities, young lawyers will advance through in-person mentoring and collaboration with their more experienced senior colleagues. We must continue to mentor, collaborate, build productive teams, and cultivate a sense of belonging in order to develop the next generation of legal thinkers and leaders.