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Why you need a longer-term vision as a firm owner
In the fast-paced and demanding world of small-business ownership, Marianne Marchesi explains the importance of maintaining a big-picture perspective while managing a small firm along with day-to-day responsibilities.
Grace Robbie
In a recent episode of The Boutique Lawyer Show, Marianne Marchesi, the managing principal of Legalite, provided valuable insights into the importance of maintaining a long-term perspective for effectively managing the diverse responsibilities of running a small law firm. She explained that by focusing on overarching strategic goals, firm owners can successfully balance daily tasks with broader objectives, ensuring both immediate effectiveness and sustained success.
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In the same episode, Marchesi revealed how the relentless rise in the cost of living has presented significant challenges for boutique and SME law firms and provided strategies to address and mitigate these challenges proactively.
Marchesi described her daily work as highly variable, with tasks and responsibilities changing from day to day. She noted that this level of variability is a common experience among small law firm owners.
“My day today is also very different day to day. There are some days where I just have my strategic hat on and it’s all about driving the business forward, winning new work, marketing. And then other days, I’m completely on the tools, and I think that is normal for small law firm owners across, like, generally speaking,” she said.
Marchesi noted that, given the current demanding legal climate, small law firm owners are increasingly grappling with the challenge of being pulled in multiple directions on a daily basis.
“We probably are feeling it now more than ever where we are being pulled in those different directions every day,” she said.
To address these challenges, Marchesi explained that she now relies on maintaining a big-picture perspective, as the unpredictable nature of work and the economy has rendered compartmentalisation less practical for her.
“What’s helped is, firstly, I don’t compartmentalise. I don’t ‘time block’. I used to, and that did work really well for me. But given the unpredictable nature of work and the economy right now, what has worked for me is having a big picture in mind,” she said.
Marchesi revealed that, in light of the prevailing turbulence in the legal landscape, she has shifted her focus to a one-year strategy, as maintaining a longer-term perspective has become increasingly challenging.
“When I talk about the strategy or big picture, I just focused on one year because I feel like so much is happening right now, both in the business, within legal life, but also within the economy and the broader market. That one year for me is my focus,” she said.
“I’ve got my strategy plan for 2024 to 2025 for the financial year, and that helps guide me with what I need to be focusing on day-to-day, and I go where it takes me.”
Marchesi outlined her strategic plans for 2025, emphasising the importance of ensuring that her day-to-day actions contribute meaningfully towards achieving her long-term objectives and advancing her professional aspirations.
“When looking at our FY 2025 strategy, I looked at a combination of short-term factors, things like the cost of living, the economy, AI, and then made sure that they integrated with legal life’s longer-term strategy and our vision and mission,” she said.
“Having that vision, especially in the back of my mind when I’m working, has really helped me focus my priorities.”
