HedsUP! From Hedley Consulting

Welcome to the Autumn 2011
issue of HedsUP!

Fit for Purpose?

“I am not concerned that I have no place, I am concerned how I may fit myself for one”
Confucius

Autumn 11

As firms face the twin challenges of continued economic uncertainty and deregulation, those best equipped to prosper demonstrate clear alignment of vision, strategy, market positioning, target clients, internal structures and operational processes. They know what they want to be but, more importantly, they have an ambitious yet realistic view of what they can hope to be. Armed with this insight they are prepared to say no to opportunities that do not fit, instead building the practices which will be needed by the clients they are targeting for future growth. They are adopting business models which reflect a fundamentally changed legal services industry.

The leading firms build their strategies inside-out and outside-in simultaneously; they make decisions about the future which reflect their inherent strengths mapped onto market opportunities rather than attempting to conjure expertise from the ether. They are concerned with building a firm that is fit for purpose – what that purpose is, or should be, is the key question. The answer lies as much within as without their walls.

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,

Andrew Hedley

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

On your desktop

Resourcing Strategy

For most law firms, a successful strategy must blend the concept of opportunity-fit with that of resource-stretch. This is because, having identified new client or market opportunities, it is often not a simple task to re-engineer the firm to provide an alluring competitive fit. Firms are constrained by relative inertia in introducing new business units, working practices or product lines.

PDF version HTML version

Playing for Keeps

Long-standing, high-value clients are invaluable to a business, because they become more profitable over time. And a key client programme can help you make sure they stay put. Programmes designed to support better management of a law firm's most important clients have a number of distinct stages.

PDF version HTML version

Chasing Scale For Its Own Sake Is Not A Strategy

If much of what has been written is to be believed, it could easily be assumed that strategic success simply hinges on the achievement of scale. Simply by being bigger, planting more flags on the map, increasing purchasing power over suppliers and improving the gearing ratio, all will be well. The reality, of course, is not so straightforward. Scale may be a necessary precondition to achieving strategic objectives but, in itself, will not define a firm in the eyes of intelligent purchasers. Scale may be necessary but it will not be sufficient.

PDF version HTML version

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

News Bytes

Client Development for Profit and Growth: Strategy & Execution

Andrew Hedley will be leading a one day Client Development for Profit and Growth: Strategy & Execution masterclass on 6th December in London. For more information and to book a place click here. Clients and contacts of Hedley Consulting qualify for a 10% discount from the standard rates. Please quote WEB-CRAH when making your booking to have the discount applied.

Managing Partner Magazine Editorial Advisory Board Announced

Andrew Hedley has been reconfirmed as a member of the Editorial Advisory Board of Managing Partner magazine. In announcing the news, editor Manju Manglani said, “On our fourteenth anniversary, it is a pleasure and an honour to introduce you to our new editorial advisory board. In alphabetical order, the new board members are Tim Aspinall (Managing Partner, DMH Stallard), Oz Benamram (Chief Knowledge Officer, White & Case), Jeffrey J. Berardi (Chief Marketing Officer, K&L Gates), Paul Brent (Marketing Director, Boyes Turner), Neil Davison (Head of IT, Farrer & Co), Stephen Denyer (Global Markets Partner, Allen & Overy), Andrew Hedley (Director, Hedley Consulting), Ian Jeffery (Managing Partner, Lewis Silkin), Jill King (HR Director, Linklaters), Beverly Landais (CEO, Devereux Chambers), Jo Larbie (HR Director, Bircham Dyson Bell), Deepak Malhotra (Director of Strategy & Transformation, Fusion Universal), Neil May (Executive Manager, Hogan Lovells), Michael Shaw (Managing Partner, Cobbetts), Malcolm Shelton-Agar (Chief Operating Officer, Allen & Gledhill) and Julious P. Smith, Jr (Chairman Emeritus, Williams Mullen). Look forward to receiving insights from these innovative leaders in the coming months.” For more information about Managing Partner magazine click here.

The Cambridge Chartered Programme

Andrew Hedley has been appointed as a specialist tutor on Cambridge Marketing College's new Chartered Programme. This is a unique initiative aimed at helping delegates gain and maintain their Chartered Marketer status through a structured range of activities from networking events, through courses to self-study materials. For more information about the college click here or to download a copy of the Chartered Programme prospectus click here.

Client Strategy in a Changing Legal Market Report

Andrew Hedley’s Client Strategy in a Changing Legal Market report has now been published and is available to purchase online. Client strategy sits at the heart of all strategy. Without the ability to attract and retain clients, at a price which delivers an acceptable level of profitability, no business can be viable in the longer term. To read more or to order the publication click here.

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.

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

@hedleyconsults