Being Text of a Presentation by

Hon Justice Dr. Nnamdi Dimgba

Tsedaqah Attorneys 2015 Retreat held at Virgin Rose Resorts, Plot 1231A, Bishop Oluwole Street, Off Akin

Adesola, Victoria Island on Saturday, December 12, 2015

Outline

Introduction

Conceptual Clarification

Issues, Challenges and Prospects

Conclusion

WHERE DO WE GO FROM HERE?

INTRODUCTION It is indeed beyond cavil that nothing good comes

easily and truly, most great things starts small. It is equally true that little is a master of plenty; same goes for every institution (including a law firm) aspiring for an elevated status.

Without attempting to say the obvious, one needs no soothsayer to come to the realization that a transition from a small-sized firm to a mid-size one is not surely without its challenges, even though it does have its prospects.

CONCEPTUAL CLARIFICATION What is a small-sized law firm and a

medium-sized law firm?

What determines the classification into small sized law firm or medium sized law firm is the size and number of offices - American University Washington College of Law

ISSUES, CHALLENGES AND PROSPECTS Resistance to Change

Fear of the unknown

Staying within one’s comfort zone

Management skills

Technical expertise

Adequate human resources/ human capital

Adequate material resources and facilities

ISSUES, CHALLENGES AND PROSPECTS (CONTD)

How do you achieve effective firm governance, organization and administration?

What is the market perception of the firm?

What are the firm’s objectives or vision?

Where do you see the firm in the next five, ten or twenty years?

What is your blueprint for the firm?

ISSUES, PROSPECTS AND CHALLENGES (CONTD)

Advances in technology

The world has become a global village

Clients demand/expectations

Competition

Transactional practice

Time/Speed/Accuracy/Quality

TEN COMMANDMENTS

CM 1 – Blessed are they who are ready to take risks

worth taking

CM 2 – Blessed are they who employ the best hands

CM 3 - Blessed are those who are adequately prepared

for the future

CM 4 - Thou shalt have a good succession plan

CM 5 -Thou shalt add more value to your client

TEN COMMANDMENTS (CONTD) CM 6 – Blessed are those who employ lawyers

that have Business Development (BD) skills

CM 7 – Thou shall strike a balance between law

practice as a profession and business

CM 8 - Blessed are those whose build

institutions that outlive them

TEN COMMANDMENTS (CONTD) Thou shall continue to triumph over

economic depression and continue to flourish as well as abound in all good things

Thy price shall be competitive and shall continue to exceed your clients expectations, while rewarding your employees as your practice flourish and your clientele increases

CONCLUSION Borrowing the words of Alvin Toffler, an illiterate of the 21st

century is not only one who can neither read nor write but one who cannot learn, unlearn and relearn.

Thus, if there is anytime to deploy expertise and even explore new areas of law by law firms contemplating transition, I can make bold to say that the time is now!

If there is anytime to take get the best hands, adequate human and material resources to run a world class firm, I also make bold to say that the time is now!!

If there is ever anytime to add more value to clients through the application of the 21st century technology, while ensuring quality service at the best competitive price in a first-class work environment, then I say the time is now!!!

THANK YOU