Welcome to the Winter issue of HedsUP!
At this time of year I’m often asked for my views on the key themes that will affect firms over the next twelve months. Change will continue at an ever quickening pace with structural reforms and the consolidation of clients, firms and panels adding to the pressures on the leadership team. Also high on the agenda will be the need to build an aligned external / internal brand and the changing nature of the psychological contract between the firm and the Generation Y professional.
The need for clear direction, strong leadership, coherent strategy and a focus on excellent execution has never been greater. These are the key dimensions that will mark out the winners and losers in 2008.
I hope that you enjoy this issue of HedsUp! If you have any comments or questions on any of the content please don’t hesitate to contact me.
Finally, very best wishes for the festive season
and a peaceful and prosperous 2008!
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On your desktop
Time to wake up and smell the coffee
The best businesses have an insatiable hunger to make things better for both their clients and themselves. For those firms which have adopted a less ambitious approach to marketing and business development strategy, it is time to take a long hard look at their existing processes and how these can be strengthened for business success.
More
Sometimes You Must Burn Your Boats
Keeping your options open is a philosophy to which many management teams subscribe, either overtly or by their actions. This isn’t to say that unwavering dogma is a good thing, but rather that a clear sense of direction, being prepared to say ‘no’ to ideas that don’t fit, and a commitment to achieving objectives, are crucial components of a successful firm. More
Is Anybody Listening?
Technology has enabled mass communication at a level never before experienced. With over 12,000 specialist publications in the UK, enabled by improved technology and ever-reducing production costs, the ability to talk in a highly focused way is at a new threshold. This promise of highly targeted messages together with the compelling propositions they can carry has enticed many professional firms into the brave new world of direct marketing communications with their clients and prospects. More
Moving from Technical Excellence
to
Business Nous
Ambitious firms recognise that being excellent at their core technical skill is simply not enough – creating an enhanced commercial understanding of their clients’ needs and building the business development skills of their people are two ways in which the firm can create a strong and enduring brand position. More
Avoiding a Cultural Cacophony
Everyone accepts that we live in a multicultural society and operate in a world where barriers to business across national frontiers are dismantling at an ever increasing rate. There is positive potential for firms in their response to these cultural challenges and opportunities. Culture is a key driver for professionals. The overriding cultural norms of any profession govern the behaviour of its members and the unique culture of any firm is also a huge potential source of differentiation. More |
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On the road
I currently have the following engagement and events in my speaking diary.
Knowledgeability
31st January, Bristol
Effective strategy and business development is not just about having knowledge and insights about clients, the market, competitors and oneself. The great professional service brands are those which excel at execution. With the ability to use the knowledge that they have – they have knowledgeability. What are the simple things that all firms can do to make themselves better at leveraging these strategic and tactical assets? This will be the subject of a talk to the PM Forum in Bristol on 31st January.
The Lawyer Legal Business
Development Conference
27th-28th February, London
I will be chairing the 3rd Annual Legal Business Development Conference from The Lawyer magazine. The conference, which is to be held on 27th and 28th February 2008 in London, will focus on optimising business development and achieving superior client service, greater market understanding and enhanced profitability.
If you are interested in attending any of these events or would like more information please do let me know:
andrew.hedley@hedleyconsulting.com
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News bytes .............................................................................................................................
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From Fantasy to Reality: Turning Strategy
into Action
Having a strategy is often not, in itself, a source of sustainable competitive advantage. The firms that perform most highly are those who are excellent at execution. In a November session for the Managing Partners’ Forum in the North-West, Andrew Hedley discussed his ideas on integrative strategies that focus on building a strong competitive position through delivery rather than rhetoric. To request more information about the talk click here or to learn about the Managing Partners’ Forum click here.
Cutting Paths Through The Jungle
In October, Andrew Hedley presented to the Marketing Director Network (MDN) on the changing role of Business Development & Marketing Directors. For more information about the presentation click here or to learn more about the Marketing Director Network click here.
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Unwrapping the Strategy Setting Process
at Professional Firms
At a Managing Partners’ Forum breakfast seminar Andrew Hedley, Bruce MacEwen and Rob Millard presented the findings of a groundbreaking MPF survey on the strategy setting process at professional services firms worldwide. This was a unique opportunity for professional firm leaders to listen to the findings, and then share insights, case studies and war stories relevant to the survey with their peers. To request more information about the research study click here.
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