2011 was a disappointing year for law firms with a deepening of the Eurozone crisis and budget paralysis in the US having a major impact on global markets. In the UK the Government’s austerity budget started to bite and for many firms it has been a subdued period.
This may be a challenging market for law firms but it is also one of great opportunity. Firms with a clear strategy, a focus on their clients and a determination to execute their plans have an opportunity to make significant progress. In a more subdued market growth depends on stealing market share from others. Quite simply if you are not doing it to them they will be doing it to you. 2012 will also see the SRA authorising its first ABSs which, although it may not be a big bang, is likely to have a profound impact on the legal landscape. Some of the merger activity which started this year to continue and indeed accelerate in 2012 and 2013.
All of these issues are addressed in the programme for 2012. These are all key to a firm’s success and indeed its survival. To keep up with such a rapidly changing market and to anticipate some of those changes is essential.
Forthcoming Webinars
Here is the schedule of forthcoming webinars for this practice area.
On Demand Webinars
Here is a list of previously broadcast webinars that are now available on demand.
24th Feb 2011
Pricing Models and the Impact on Profitability
This webinar will cover:
A personal reflection
Taking the opportunity to examine and re-work the pricing menu:
o Is there still a place for the good (or bad) old "hourly rate"?
o In what circumstances might one offer a "fixed fee"?
o When might an "annual retainer" basis of engagement be appropriate?
o What are the attractions of a "success fee" approach?
o When is there a role for the "deal fee"
The importance of demonstrating relevance and adding value as defined by the client:
• Is for differentiation of our firm in the marketplace
• Is for alignment with the interests and objectives of the client
• Is for value added, as defined by the client, in our service delivery
• Is for enthusiasm, engagement and energy in all we do
Changing Partner mindset and behaviour
o Price – a key financial driver
o Looking at three main areas of pricing; pitches, negotiations & project management
o Understanding the influences on price
Providing the tools to effect change
o Developing a pricing programme
o Making available information and support
6th May 2011
Devising a Strategy for a Mature Market
This webinar will cover:
•Meeting the challenge of differentiation
• Dealing with the need to focus
• Satisfying the imperative for profit
• Getting the right positioning for your firm
• Understanding the distinctions between emerging, growing, mature and saturated markets
• Adopting the optimal business model to fit your strategy
24th Jun 2011
Winning Market Share in a Stagnant Market
This webinar will cover:
• Identifying "your" markets
• SWOT analysis and (realistically) assessing the competition. Where is the potential for growth?
• Building a compelling proposition: what makes your firm stand out?
• Evaluating the demand: providing what clients want rather than what you think they need
• Persistent themes and communication: internal and external
6th Jul 2011
Developing and Motivating the Work Force
This webinar will cover:
• Clear business strategy (hearts and minds), growth plans delivered
• Positive supportive and innovative culture
• Career structures
• Substantial training/professional development offerings
• Mobility opportunities
• Mentoring
• Diversity & inclusion focus
• Volunteering
• Physical surroundings
• Engagement survey
29th Sep 2011
The Impact of Globalisation on the UK Legal Market
This webinar will cover:
- Client expectations
- UK law firms in an under-performing UK economy
- Outsourcing: do law firms have choices?
- New entrants and the impact of external investment
- Commoditisation
- Consolidation
- Globalisation
19th Oct 2011
Creating a More Efficient Business Model – Outsourcing and Offshoring
In the current economic climate, maximising profitability is key. To do so it is imperative to increase productivity whilst curbing expenditure and outsourcing or offshoring are often seen as the easiest ways to achieve these goals. This webinar will examine what services and practice areas can benefit from outsourcing and why, identify alternative solutions and debate the pros and cons of each to ensure creation an efficient business model.
This webinar will cover:
• Challenging received wisdom
• Identifying the drivers to outsourcing and offshoring
• Reframing the problem – what are the alternatives?
• Raising the bar on value through
- Technology
- Service offering
• Positive brand management :
- “call our UK based call centre now”
• Defining the efficient business model – setting outsourcing and offshoring in the context of multiple business levers a firm can use
• Using Criteria and Tools for identifying the service and practice areas which could benefit from outsourcing
• Confirming alignment to firm strategy, clear objectives, required ROI and any ‘sacred cows’ upfront
• Selecting provider shortlist and sourcing best practice
29th Nov 2011
Issues and Opportunities Under the Legal Services Act
This webinar will cover:
- ABS: freeing practitioners to organise through different business models whilst maintaining consumer protections.
- Establishing a rational framework for the scope of regulation of legal services
- Outcomes-focused regulation as a proportionate way to target consumer detriment whilst supporting innovation
22nd Feb 2012
Linking up with other professionals - opportunities or threats?
This webinar will cover:
· Should solicitors link with accountants, IFAs and estate agents?
· Are there any other natural links eg funeral directors?
· Establishing links with local firms – franchise?
· Referral fees
· Who captures the client first?
