6. Horizon Scanning: How Can Law Firms Improve their Horizon Scanning Skills?
There are clear guidelines law firms could follow in order to improve the output of Horizon Scanning activity undertaken for a client.
May 11, 2021 at 02:14 AM
3 minute read
The original version of this story was published on Lean Adviser
Based on the research ALM conducted with global general counsel, there are clear guidelines law firms could follow in order to improve the output of Horizon Scanning activity undertaken for a client.
|- Make horizon scanning a regular update for clients as part of a communication plan — don't wait until asked and don't do as an ad hoc activity.
- Don't use horizon scanning to get more billable hours or more work — use it to strengthen the relationship. That will pay off again and again.
- Don't just use horizon scanning to discuss risks, also use it to discuss opportunities.
- Make sure horizon scanning insights are tailored very carefully to the client's industry and specific business.
- Don't just send via a client alert — as you know, your clients are inundated with advisory alerts from law firms. Make it part of the meeting cadence and indicate when you will provide this update in the project plan.
"Horizon scanning tends to come in the form of newsletters — which get lost in the inbox (generally amongst all the other newsletters). In an ideal world a firm would know what matters to us and would pick up the phone or at least drop a tailored communication. It's a question of better targeting through more obvious and direct communications."
One of the most insightful comments from the research is a simple question a general counsel asks him/herself. This is our key takeaway and will be guidance we will return to throughout our discussions about Horizon Scanning.
The most critical step in the law firm's development of insights from horizon scanning:
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