Ownership and governance
The business models, and corresponding ownership and governance, of the providers of legal services are undergoing significant evolution as new entrants come into the market with different approaches and law firms adapt their legal and governance structures to compete for work and talent in a changed world. Using my experience in advisory and non-executive roles, I work with a firm’s owners, investors and senior management to review and revise its approach to ownership, governance, performance reviews, and remuneration, rewards and profit-sharing.
Many firms over-engineer their approach to strategy, and yet still fail to address the basic elements of strategic thinking. My approach is to focus on these fundamental objectives of the business, and challenge a firm’s assumptions about itself, its markets, its competitors, its risks and its future. I will facilitate the work of, or engage in discussions with, the firm’s board, leaders or strategy group to help them identify and achieve difference and competitive advantage.
Profitability and valuation
A healthy future in an ever more competitive sector requires a relentless process on managing for profit and cash flow, and resourcing for effectiveness and efficiency. This in turn is based on a sound understanding of how and where profit is made and cash consumed in the business, and of how to fund working capital and investment for the future. The creation of a sustainable and valuable business that is capable of attracting external funding is not an accident. My role is to help the firm understand its economics as well as how others see and value it.
I have a long-standing interest in the Legal Services Act 2007 and the appropriate regulation of the sector. The public interest drivers of regulation, and the professional ethics and integrity of providers of legal services, are important context for the future. I continue to work in policy and with regulators and other stakeholders to encourage a proportionate and effective regulatory framework for legal services that protects the legitimate interests of the public, consumers, clients, and providers.