Capacity, strategic alliances and growth strategy
From inception of our firm we have maintained a growth strategy that would be both organic and acquisition focused. Whilst the professionals in a law firm are required to fulfil the dual function of marketing and providing services to our clients, we maintain our client focused approach to marketing. We believe that growing instructions can be obtained from managing and investing in client relations, whilst low attention marketing (billboard and internet advertising) can open alternate revenue streams which may be utilised for reinvestment and skills acquisition.
We have also found that increasing our referral network and establishing both informal and formalised ventures with other industrial consultancy service providers has assisted us in gaining exposure and experience outside of our established skillsets. Our firm also has a policy against over capacitation and the inadequate service levels clients have to sustain as a result of which. Our goal is to become a premier HDI corporate advisory and commercial litigation law firm, which we believe can only be achieved by ensuring suitable capacity for our clients.
Whilst marketing is integral to our firm’s growth, our view is that in the professional services sector, controlled growth and maintaining client relations with quality clients is key in establishing yourself as a serious competitor. We have also identified the public sector as a key area in our expansion program, in that, it requires suitably skilled professionals, however, also creates opportunities in respect of growth and development in niche services.
We commit a percentage of revenue each month in developing and exploring new areas in which we can exploit technological advancements and expand on our legal resources. We also try to identify software which would aid in ensuring more accountability to clients in respect of fees and disbursements charges and have contained herewith a small excerpt on some of the resources utilised.
LEGAL MANAGEMENT SOFTWARE
MYLEXIS NEXIS AND OTHER ONLINE RESOURCES
Broad based black economic empowerment
We are committed to gaining skills and knowledge through:
The procurement of other BEE professionals for professional development. We believe in the investment that is BB-BEE. It is also out belief that BBBEE will only be effective if we identify the real need to develop young black professionals in a country that still sees a wide gap between the disenfranchised and the privileged.
We truly believe in the potential of all South Africans, however, there is a growing market of competent, capable, ambitious and hardworking young black professionals that we believe are a segment of the legal fraternity that can be developed and utilised effectively, instead of being relegated to a statistic to improve the BEE credentials of firms and companies.
One of our primary BB-BEE aims as a firm is to see a growing number of black lawyers develop in legal fields that we are not traditionally associated with and we believe that there are opportunities for development and skills transfer as the legal profession takes into account the evolving socioeconomic landscape in South Africa.
We are in the process of identifying ways and means to implement workshops aimed at BB-BEE development in commercial legal services sectors that will assist practicing professionals, interested in those areas of law, in developing their skill set beyond what is taught in Legal Education and Development classes
Knowledge and development aims in respect of public Sector procurement
We are actively seeking projects that will assist the public sector in meeting its development aims within the next 10 to 15 years and one of our firm’s key areas of interest is transaction advisory, infrastructure development and procurement. As part of the business’ growth strategy we have undertaken to attend workshops associated with Public Private partnerships, The Public Finance Management Act no. 1 of 1999, the Municipal Finance Management Act 56 of 2003, the Preferential Procurement Policy Framework Act 5 of 2000 and the National Treasury Regulations, held at the Development Bureau of South Africa and any and all other workshops which would assist us in developing our knowledge and skill set in public sector work.
At Richen Attorneys we are exploring opportunities to assist the public sector in ensuring that they have adhered to the strict legal and regulatory frameworks required in implementing projects from inception through to its development phase.
We are developing a network of professional alliances to share our vision and draw upon their skills and experience in the particular sector for the purposes of meeting the outputs of the project.
We understand that infrastructure development requires attorneys who are knowledgeable in respect of:
We aim to be the preferred advisor in this specialised field. Richen attorneys is further committed to pledging to do its bit to assist with the Planet 50/50 by 2030 campaign on gender equality.