In a legal market being transformed by the processes of deregulation resulting from the Legal Services Act, globalisation and technological change, there is a real threat to the independence of medium-sized firms.
Low-cost competitors and private equity-funded Alternative Business Structures may well alter the competitive landscape permanently, and so in order to stay independent in the face of ABS, firms must improve profits, revenue and cash flow, while looking out for opportunities to take over rivals.
- Focus on financial improvement in key areas - including cash management and overall profits
- A dedicated law firm business development programme to get more clients and better clients, and to secure consistently high revenue streams
- A more harmonious partnership, with all key people pulling together in the same direction to achieve the firm's goals
- A strategic approach, helping the firm's management to consider and evaluate merger opportunities
The programme is flexible according to the firm's individual goals and priorities. We facilitate interviews, workshops for all key people and partner strategy days, to identify the main challenges and opportunities facing the firm.
Depending on the outcome of this process, we then undertake a project to improve financial performance in the key areas identified.
The firm's key fee earners and partners are taken through a business development programme, helping them to understand how to get more profitable clients and more work from existing clients.
We also help the management team to determine the firm's strategic direction, identify potential merger or takeover targets, and perform the commercial due diligence where required.
“I am staggered by the accuracy with which you have been able to understand what makes our firm ‘tick’ in such a short period of time. I am confident that this will help us to remain a highly profitable law firm as we continue to go from strength to strength.”
Partner - 5 partner firm - Manchester