pix

HedsUP! From Hedley Consulting



Welcome to the Autumn
issue of HedsUP!


Running a different race

"If I had asked people what they wanted, they would have said faster horses."
Henry Ford
HedsUP! Running a different race

Consensus among professionals can be difficult to achieve but on two issues there is widespread unanimity - the business world in which we operate has fundamentally changed and the pace of change will continue to accelerate as a world emerging slowly from recession intersects with increasingly deregulated professions, new entrants and fierce inter-firm competition.

Faced with such challenges, it would be easy to focus wholly on improving the efficiency of the current operating model. This is about running the same race, only faster. Improved efficiency is necessary but not sufficient, the benefits will generally be transient as others improve their own processes and the market price spirals downwards.

 

What is needed is an investment in innovation and a redefined sense of strategic direction. By running a different race those who succeed will create distinct, valuable service propositions which are difficult to emulate and deliver a sustainable profit advantage.
I hope that you enjoy this issue of HedsUP! If you have any questions or would like further information please do not hesitate to contact me.

Best wishes,pix
Andrew Hedley
Andrew Hedley

  ........................................................................................................................................................
On your desktop

Outsourcing the Core
Published in Managing Partner Magazine
On 15 June 2009, The Times predicted that the next two years will see a reduction in the number of lawyers employed in private practice in the UK by 10,000 (or over ten per cent). On 13 July 2009, the London Evening Standard carried a feature ‘Mumbai Law: 1000 City staff 'will lose jobs' as legal work goes to India, outlining Indian law firms providing outsourced services to UK law firms and corporates.
PDF version   HTML version

Primus Inter Pares
Published in Managing Partner Magazine
Observation and experience over the past 20-plus years have led me to formulate the 'First Law of Professional Firm Management'. It can be simply stated and I have found it to be true in firms of all sizes, shapes, hues and colours. It is most strikingly accurate among partners neither tasked with current management responsibilities nor with any historic experience of such roles.
PDF version   HTML version

Profiting from Key Clients
Published in Managing Partner Magazine
A restructuring opportunity'

It is widely accepted that the 'Pareto effect' applies to most businesses, with 80 per cent of turnover coming from 20 per cent of the client base. Indeed, my experience of many professional-service firms operating in the commercial sphere is that the numbers are even more compelling. It is not at all unusual for 90 per cent of revenue to emanate from the top ten per cent of client relationships.
PDF version   HTML version


........................................................................................................................................................

News bytes

Business Development
for Law Firms in Dubai

Andrew Hedley will be speaking about the challenges of business development in an uncertain economic climate as well as leading a half-day workshop focused on developing strategic clients at the IIRME Business Development for Law Firms conference which is to be held on 23rd and 24th November in Dubai. For more details click here or for a copy of the conference brochure click here.

Cambridge Marketing College
In his role as the Course Director of the Professional Diploma in Professional Services Marketing, Andrew Hedley writes 'tips and tricks' snippets for students which appear in every issue of PSMG magazine. Click on the month to read the July and September pieces.

Developing Strategic Client
Relationships Report

Andrew Hedley’s comprehensive report, Developing Strategic Client Relationships, published by ARK Group, continues to attract purchasers from around the world. Running to over 150 pages, with case studies of leading firms and ground breaking initiatives in this area, the report brings a much needed strategic perspective to client development and relationship management. For more information about the report and to order a copy click here.

Nottingham Law School MBA
in Legal Practice

Andrew Hedley will be a guest tutor on the highly regarded Nottingham Law School MBA in Legal Practice from October this year. For more information on the MBA programme click here.

Hedley Consulting New Broad Street House
New Broad Street
London · EC2M 1NH
Armucliffe House
17 Silver Hill Road
Sheffield · S11 9JG
T: +44 (0) 870 4862115
Fax: +44 (0) 870 4862116
enquiries@hedleyconsulting.com
www.hedleyconsulting.com
Hedley Consulting Ltd. © 2009