law firms – Your Brand is Your Business – The 4 Common Mistakes in Law Firm Branding

Feb 27

When it comes to law firm marketing and business development your best efforts are only as strong as your brand. Your brand is what the world recognizes (or will come to recognize) when they think of your firm: its visual identity, its message, its voice. From website to letterhead your brand is the first thing outsiders see and perhaps the most important aspect of marketing for firms to focus on.

Once established, however, many firms (or individual lawyers) seem to get tired of it. They want to get creative, choose new colors or fonts, and establish a new message or identity. Big mistake. One of the key strategies in creating a brand is repetition. Once you start diluting that identity you risk confusing clients and hindering business development efforts. You may be tired of the same old thing…but that’s only because you see it every day. Your market doesn’t. Below I’ve listed the four biggest mistakes firms make when it comes to their brand…and how to avoid them.

Letting a pet project overwhelm the brand.
The biggest trap law firms fall into with pet projects is letting the project drive the look and feel, rather than the firm. No matter what type of retreat, fundraiser or event your firm is participating in, the overall vision should stick closely to the original brand. This is true for everything from décor to invitations to charity journal ads. Example: A client of mine had a strong interest in the arts and once a year opened his office to the public for a private viewing of his extensive corporate art collection. Rather than letting the art collection drive the event, he stayed true to firm branding. Everything at the event (from napkins to invitations) prominently featured the colors, fonts and logo of the firm. The firm specialized in high-end litigation matters for high net-worth individuals and the event reflected that. Don’t forget that everything must be done through the prism of the firm’s brand strategy…or you put your brand at risk.

Letting practice groups create their own identity.
Never forget that practice groups are part of a larger brand. Whether you have two or twenty, each group is still beholden to the identity of the firm as a whole. That means no playing with logos, colors or layouts when it comes to Power Point and other materials viewed by clients. To avoid this kind of dilution, make sure to have clear brand guidelines (where and how the logo can be placed, the colors that can be used, etc…) and, for those willing to go the extra mile, brand templates. If you must give practice areas their own identity, consider using color to differentiate between them. Keep logos and design the same, but assign each group their own specific color. This will allow the group to stand apart but be recognizable as part of the bigger firm.

Playing around with the logo.
Whether it is on letterhead or golf ball, your logo is the most prominent visual symbol of your firm. Never forget that. Many firms have a tendency to put the materials ahead of the logo and want to manipulate and rework their logo to make it fit on to whatever they’re working on at that moment. From ads to T-shirts to holiday cards, never compromise your logo for the sake of design. Another brand lesson? Make sure whatever you place your logo on (pens, golf shirts, or other gifts) reflects the firm brand. If you’re a large white-shoe firm you don’t want your logo on silly gag gifts, whereas a smaller firm with a more casual vibe can be creative.

Creating a sub-brand.
Many law firms today are choosing to branch out into other areas of business or charitable giving, and are creating what we like to call “sub-brands” for their firm. While the new business or charity may have a vastly different mission than the law firm, it’s still a part of the overall brand. To create a new and separate brand, you must go through the same process you did in creating the original, but this time keep in mind the relationship between the two. It’s always a good idea to keep some semblance of the law firm brand. Easy ways to accomplish that? Similar colors or fonts, or even keeping the same icon (should you have one) with a different name. Don’t throw away the power of an established brand.

The lesson here is clear: Never dilute your brand. Remember the power of repetition and the importance of establishing a clear visual connection back to your firm. Think hard about whether your materials fit into that idea and make sure that firm members are clear about how and when to use logos. Your brand is your business.

Forensic Accountant – A New Career?
by: Rebecca Game

One of the newer areas, and also the fastest growing area, of accounting is forensic accounting. A forensic accountant has a unique job because the responsibilities involve the integration of accounting, auditing, and investigative skills. Using all of these skills, a forensic accountant is, in summary, a true investigator. Forensic accountants are trained to look beyond the numbers and deal with the business reality of the situation.

A forensic accountant is typically an accountant that is hired by a large firm or company, but can also be engaged in public practice, or can be employed by insurance companies, banks, police forces, government agencies, or other organizations. The forensic accountant would be hired by such organizations to investigate, analyze, interpret, summarize, and present complex financial and business information so that it can be easily understood and properly supported. One that is employed as a forensic accountant can assist corporations in two main ways.

1. Investigative Accounting.

By performing investigative accounting duties, a forensic accountant reviews the factual situation of the company and suggests possible courses of action. A forensic accountant can also assist with the protection and/or recovery of assets, and can coordinate with other experts such as private investigators, forensic document examiners, and consulting engineers in the event that a white-collar crime has occurred. The forensic accountant will also assist with the recovery of assets by way of civil action or criminal prosecution.

2. Litigation Support.

Another main duty of a forensic account is to assist in obtaining documentation to form an initial assessment of the case and identify areas of loss. The forensic accountant may review the relevant documentation to assess the case and identify loss. This may require the financial accountant to assist with settlement discussions and negotiations, as well as attend a trial to hear the testimony of the opposing expert, and to provide assistance with cross-examination.

Forensic accountants become involved in an array of investigations. This may involve:

- Criminal Investigations, where a forensic accountant may be required to prepare a report with the objective of presenting evidence in a professional and concise manner;

- Shareholders’ and Partnership Disputes, involving assignments that require a detailed analysis of numerous years of accounting records in order to resolve, for example, compensation and benefits disputes of shareholders or partners;

- Personal Injury Claims, when a forensic accountant is asked to quantify economic losses resulting from an accident, often calculating resulting economic damage in cases of medical malpractice and wrongful dismissal;

- Business Interruption, reviewing the details of an insurance policy, for example, to investigate coverage issues and the appropriate method of calculating the loss of areas such as business interruptions, property losses, and employee dishonesty (fidelity) claims;

- Fraud Investigations, which involves a forensic accountant’s work in determining funds tracing, asset identification, and recovery, most commonly performed with employee fraud cases;

- Matrimonial Disputes, which require a forensic accountant to trace, locate, and evaluate assets, including businesses, properties, and other personal assets;

- Business Economic Losses, that of which includes areas such as contract disputes, construction claims, expropriations, product liability, trademark or patent infringements, and losses occurring from a breach of a non-competition agreement;

- Professional Negligence, either through a technical perspective, where the forensic accountant will investigate a breach in an agreement, or through a loss quantification; and

- Mediation and Arbitration, where a forensic accountant may be hired to become involved in an alternative dispute resolution so that individuals and businesses may resolve disputes with minimal disruption and with a minimal amount of time.

While each forensic accountant will receive a unique assignment with each client, most assignments will include the following steps.

1. Meet with the client to understand the important facts, people, and issues at hand.

2. Perform a conflict check.

3. Perform an initial investigation.

4. Develop an action plan, setting objectives to be achieved, as well as the methods that should be used to accomplish them.

5. Obtain relevant evidence that may include documents, economic information, assets, or other proof of the occurrence of an event.

6. Perform the analysis, which may involve calculating economic damages, summarizing transactions, tracing assets, performing present value calculations, performing a regression or sensitivity analysis, utilizing a spread sheet, database, or other computerized model.

7. Preparing a final report.

A forensic accountant may be hired by a variety of institutions, including attorneys and law firms; police forces; insurance companies; government agencies; banks, credit unions, and financial lenders; courts; and business owners. They may hire a forensic accountant based on their experience and qualifications, as well as their neutrality to their particular situation, especially if damages are involved.

The typical forensic accountant will have a minimum of a bachelor’s degree, and often a master’s degree, in accounting or a related field. A forensic accountant is also usually a Certified Public Accountant (CPA). In addition to education, a forensic accountant should have personal characteristics that include curiosity, persistence, creativity, discretion, strong organizational and communication skills, confidence, and sound professional judgment.

Forensic accounts that find the most career success are extremely detail-oriented as well. A forensic accountant may be employed by an accounting firm or by a large corporation to perform in-house investigations, or may be self employed as a consultant to such organizations.

About The Author

Rebecca Game is the founder of Digital Women ®, Digital-Women.com, an online community for women in business. She is a 30 year entrepreneur and dedicated to helping other women find business loans and business grants. Visit her site: Business Grants and Loans for Women

http://www.digital-women.com