Author(s): Duncan Hart
Publication date: Nov 2010
If you were to liken your firm to a restaurant, would it be a Rules? A Nobu? A Fat Duck? A Pizza Express? Or a McDonald’s?
All of the above have a successful business strategy based on the needs of their target market. Could you say the same for your firm?
In an increasingly competitive and changing legal market, knowing where and how to compete through the implementation of a clear strategy is crucial to ensure a profitable future for your firm.
The Strategic Law Firm - will help you analyse your firm’s core strengths and capitalise on them by developing a coherent business strategy for success.
Specifically this report will help you:
- Identify your strengths and priorities;
- Understand and implement the key elements of a successful strategy - value proposition, client segments, client relationships, provision of services, revenue, key resources, key activities, cost structure, partners;
- Visualise, understand, review and tailor your business model;
- Build the right focus for your firm (industry, client or transaction based);
- Align your teams and leaders to target the right clients and industries;
- Understand disruptive models; and more…
The report further sets out the practical details of how a strategy planning day should be organised - before, on, and after the day, including:
- A series of nine potential exercises ranging across values alignment through to market segmentation and scenario analysis;
- Specific worked examples of ways to calculate team financial and contribution measures;
- Capturing the outcomes into one page plans, which can be utilised at firm, team and individual level to drive your ongoing agendas; and
- Useful examples, checklists and templates for immediate implementation.
This uniquely practical report will help you devise an effective strategic vision for your firm, and provides the tools to ensure that vision is achieved.