Profitability arises from two sources. The first is industry attractiveness, which in the case of the Australian Legal Market has been one of stagnation and decline. The second is value differentiation, and this is currently being driven by price-competition, client switching, specialization, process/collaborative and cognitive technologies and new entrants. There is also growing market share competition at the top end of town. All law firms must keep moving.
Winning moves help us stay profitable. Losing moves mean we may not survive. Deciding not to move, is a valid move, if it is done consciously. Firms who ‘fall asleep at the wheel’ erode profitability and may join the ranks of those that disappear. Today, more than ever, firms must be customer-facing, have a unique and unbeatable value proposition and become truly tech-savvy.
John will share the secrets to finding your ‘sweet spot’, how to craft a relevant strategic intent and why winning strategies change over time. He will reveal circumstances where winning requires either staking out new white spaces, revitalising old trails, exiting businesses, consolidating or slow continuing improvement.
John will help you:
- Find your professional sweet spot and that of your firm.
- Connect customer value to profit.
- Choose the right strategic approach.
- Learn the syntax of an effective strategy.