Where are the clients? Or more to the point, where are the profits going to be in certain law firm client groups in the future market for legal services?If your firm is looking at the subject of what will happen as the Legal Services Act plays out its final cards, or you have a partner who may need a concise review of the current position, I recommend a recent report – Big Bang: Opportunities and threats in the new legal services market – to bring everyone up to date. The conclusions are that you must act now to secure the future of your business.

I know we at Marketlaw, other consultants and market commentators have said this repeatedly for a number of years, but this report shows the extent of what's happening outside your firm. For those anxious about the future, I suggest you can use this report to prod, persuade or demand that your (less forward-thinking) colleagues at least read it and, if they don't want to comment, let you start to address the issue it raises in your firm. If that doesn't work, put a copy of this recent Gazette news article on their desk.

Having digested the report, may I suggest you think from the clients' point of view about the future of you firm. Who are your clients now and what do they want from you in the future? What profit do you make from those clients via your services? How will competition affect or change the client groups your firm currently serves? These are the first marketing management questions you will need to address.

The legal services market in England and Wales is changing in a unique way. There are no real comparisons anywhere else that could help us predict the future size, shape or profitability of legal services.

Your firm's future will be based on demonstrating to potential clients the value of your services over those offered by competitors. Whatever shape your firm takes - partnership, LLP, ABS or anything else – your focus needs to be on which clients will provide profit for in the future and you are going to have to be openminded and creative in your approach.