Page 42 - Leaders in Legal Business - PDF - Final 2018
P. 42
First, most firms now have at least one permanent external advisor who really
understands the business, firm management, and the partnership to provide impartial advice on a
broad range of strategic, tactical, and operational business issues. This may take the form of a
consulting firm (with access to a number of partner experts within that firm), an individual
consultant, or a non-executive director.
Second, consultants may provide ongoing implementation advice following a consulting
project and to help firm management reflect on necessary changes until a new idea, process, or
decision is implemented the way it was intended and in the best, most profitable way for the
firm. For example, it is invariably helpful to any remuneration committee or other decision-
maker for the consulting firm to ensure that change to the system of how partners are paid is
being implemented as intended (and has been “sold” to the partners!).
Third, we have seen a number of firms with a single trusted external advisor who
manages the relationships with all other advisory firms to guarantee a consistency of approach
and to ensure that all consulting firms advising the law firm provide value for money.
Common also are a small number of design-and-implementation projects that are
executed by small teams alongside the retained advisory.
Ad Hoc Advisory
Sometimes there is the need for a looser, more ad hoc relationship. A new managing
partner may wish to have some advice on how he should shape his agenda or how she might seek
to convince the board on a particular approach to an issue. There is plenty of this level of advice
being given, which tends to be paid for by the hour or the day. Sometimes this advice may be
given more formality and delivered as part of a retained advisory, even as a coaching plan, with
some specific objectives agreed upon.
Sometimes a managing partner merely needs the comfort of hearing about the
experiences of someone who has done it all before as a managing partner. There are a number of
eminent ex-managing partners who have offered a lot of help, comfort, and reassurance by
selling the stories of the very real scars on their backs.
Using Consulting-Related Fields for Effective Implementation
Implementation work means helping to get things done. For example, when a new
invoicing and collections process has been designed and decided upon, implementation is about
ensuring the process works, the IT works, the partners comply, and that the new process works in
the most effective and efficient way possible. The consultants who designed the solution often do
this implementation work. It is usually most effective for this work to be done in conjunction
with disciplines that are closely related to consulting. Often the line of what is “consulting”
according to its textbook definition and what is a related service can be fluid. In our experience,
it makes little sense to be purist about this; what matters is what helps the client overcome the
challenge or reach the goal, not what label we as professionals put on the type of work being
done.
Some of these related services are covered elsewhere in this e-book; we only touch on a
few examples here:
28
understands the business, firm management, and the partnership to provide impartial advice on a
broad range of strategic, tactical, and operational business issues. This may take the form of a
consulting firm (with access to a number of partner experts within that firm), an individual
consultant, or a non-executive director.
Second, consultants may provide ongoing implementation advice following a consulting
project and to help firm management reflect on necessary changes until a new idea, process, or
decision is implemented the way it was intended and in the best, most profitable way for the
firm. For example, it is invariably helpful to any remuneration committee or other decision-
maker for the consulting firm to ensure that change to the system of how partners are paid is
being implemented as intended (and has been “sold” to the partners!).
Third, we have seen a number of firms with a single trusted external advisor who
manages the relationships with all other advisory firms to guarantee a consistency of approach
and to ensure that all consulting firms advising the law firm provide value for money.
Common also are a small number of design-and-implementation projects that are
executed by small teams alongside the retained advisory.
Ad Hoc Advisory
Sometimes there is the need for a looser, more ad hoc relationship. A new managing
partner may wish to have some advice on how he should shape his agenda or how she might seek
to convince the board on a particular approach to an issue. There is plenty of this level of advice
being given, which tends to be paid for by the hour or the day. Sometimes this advice may be
given more formality and delivered as part of a retained advisory, even as a coaching plan, with
some specific objectives agreed upon.
Sometimes a managing partner merely needs the comfort of hearing about the
experiences of someone who has done it all before as a managing partner. There are a number of
eminent ex-managing partners who have offered a lot of help, comfort, and reassurance by
selling the stories of the very real scars on their backs.
Using Consulting-Related Fields for Effective Implementation
Implementation work means helping to get things done. For example, when a new
invoicing and collections process has been designed and decided upon, implementation is about
ensuring the process works, the IT works, the partners comply, and that the new process works in
the most effective and efficient way possible. The consultants who designed the solution often do
this implementation work. It is usually most effective for this work to be done in conjunction
with disciplines that are closely related to consulting. Often the line of what is “consulting”
according to its textbook definition and what is a related service can be fluid. In our experience,
it makes little sense to be purist about this; what matters is what helps the client overcome the
challenge or reach the goal, not what label we as professionals put on the type of work being
done.
Some of these related services are covered elsewhere in this e-book; we only touch on a
few examples here:
28
