HedsUP! From Hedley Consulting

Welcome to the Spring
issue of HedsUP!

Going for Growth

“This is no time for ease and comfort. It is the time to dare and endure.”
Winston Churchill

Spring 2014

Things are looking up! Firms are busier. The economic forecasts are positive. The mood in management teams has moved from caution to optimism. Maybe, just maybe, we can begin to relax a little? Wrong!

Now is the time to push harder, to resolve more strongly and to focus on those initiatives which challenge us to get fit for a different sort of future. This is not a time for partners to breathe a collective sigh of relief; rather it is the point at which the momentum which has been built must be reinforced and investment in the things which will define future success prioritised. Not to do so would risk snatching defeat from the jaws of apparent victory.

But we should also pause to recognise what has been achieved. What this means in practice is that leadership teams need to put in place the building blocks to create a culture in which people can simultaneously celebrate the success of their firm whilst also being challenged to raise the bar of ambition to achieve even more.

This is because if we do not continuously strive to serve our clients better through a combination of innovation, focus and commitment then the competition will surely do so. This will be an enduring feature of the new market dynamic – complacency and hubris must be be permanently consigned to the pages of history.

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

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On your desktop

Merger Chrysalis

If you are tasked with delivering a merger, you have a huge amount of leading, persuading, cajoling and encouraging to do in order to realise your objective. Your audiences are both internal and external. Within your firm, you are responsible for understanding the mood of the wider partnership group and persuading others of the merits of the proposed action (along with the non-viability of the status quo). You then need to lead partners, lawyers and business support personnel on a journey which a number will approach with trepidation and resistance.

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Outward Bound

Many law firms are operating across increasingly large geographic footprints in their domestic markets. As they seek new growth opportunities, a question that will inevitably arise is whether national borders should be crossed. Before doing so, firms must first carefully analyse the reasons for such a move. They should then look to build an international strategy which balances future opportunities with current demands on resources and senior management time.

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Engaging the wider partnership in the merger process

The manner in which the leadership team engages, communicates and builds consensus with its wider partner group is one of the most important opportunities and challenges in any merger. Without a strong collective will, focused on achieving a positive result and overcoming the inevitable challenges that will be encountered, any merger becomes significantly more difficult.

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A merger can be a ‘Trojan Horse’ opportunity to transform your firm

“Don’t worry about the implementation, that’s tomorrow’s problem. Just focus on getting the deal done” figures high on the list of comments which betray the naivety of those negotiating mergers.

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News Bytes

The Law Firm Merger: A Leader’s Guide to Strategy and Realisation

An in-depth report by Andrew Hedley into the role of the leader in the merger process has been published by ARK Group. The executive summary is available to download here.To read more about the report and to purchase a copy click here

Legal Support Network Legal Practice Management Conference 2014

Andrew Hedley will be the opening speaker at the Legal Practice Management Conference, which is to be held on 19th May in London, on the topic of Transformative Change Inside Law Firms. For more information about the conference and to book a place click here.

39½ Ways to Prepare for Growth Conference

Andrew Hedley will be speaking at the Law Society's 39½ Ways to Prepare for Growth conference on 4th June at The Law Society, Chancery Lane, London. This is a free conference aimed at helping law firm management teams maximise their opportunities in a fast-changing world. To learn more about the event and to register to attend click here.

The Cambridge Chartered Programme

Andrew Hedley is 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.

Law Management Section Merger Toolkit

The Law Management Section Mergers Toolkit, with two chapters contributed by Andrew Hedley, is designed to help firms gain a better understanding of the merger process and provides practical guidance throughout. Andrew Hedley's chapters consider the strategic drivers for merger and how to unlock the merger dividend. For more information or to order a copy 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 email enquiries@hedleyconsulting.com.

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