HedsUP! From Hedley Consulting

Welcome to the Autumn
issue of HedsUP!

Points of Inflexion

September 08 

Students of differential calculus would define a point of inflexion as the place at which the tangent crosses the curve itself. Those of us in the commercial world (and less mathematically gifted!) might say that it is a turning point at which a major shift occurs in the business environment. This can have either positive or negative outcomes depending on one’s market position and ability to respond to opportunities and threats. As Andy Grove, the founder of Intel, said it is “an event that changes the way we think and act”.
Economic uncertainties, a lack of financial liquidity and reduced business confidence have conspired to create a flat-line in the economic heartbeat. This hiatus affects the counter-cyclical businesses too with activity in these areas taking time to build momentum whilst the growth engine has stalled. “Standing still and waiting for what happens next” sums up the prevailing mood for many.


Clients face the same significant economic pressures and will look to their professional advisers to help them achieve objectives more quickly, surely and cheaply than ever before. This is an opportunity to capture market share for those that are willing to rise to the challenge. Paradoxically, this is not a time for standing still but rather for taking decisive action to better position the firm to be fit for the future, whatever that may look like!

This edition of HedsUP! takes as its theme the ways in which firms can improve decision making and reduce uncertainty in their economic outlook, focus on the core skills and the capabilities which really make a difference and ensure that they are nimble and adaptive whilst maintaining clear strategic direction.

Please give me a call if there is anything that you would like to discuss.
Best wishes,pix
Andrew Hedley
Andrew Hedley

On your desktop

Decisions, Decisions...
“Why else does a managing partner exist if not to make decisions?” This was a comment recently made at a conference I was chairing. Three things immediately struck me. Just how much autonomy do managing partners have in their decision making? What issues affect decision making in professional firms? And how will managers cope with ever-decreasing time windows within which to make decisions – especially when the impacts of those decisions grow increasingly critical for the firm’s future prospects? More

Crunch Time!
A downturn sorts out the wheat from the chaff! It’s not a nice thought, either for those affected or even the bystanders, but it’s largely true. A coherent argument can be made that a period of recession is a necessary part of the creation of a healthy market. Those that have a strong underlying business will survive and take advantage of the opportunities that such a climate inevitably throws up, while those who have lived with the illusion of a great business during bull market years, when making a profit is relatively easy, will be found out. More

The Law Firm of the Future: A perspective on what is in store for the profession over the next decade
Views on the shape and focus of the law firm of the future are widely divergent but, invariably, pessimism is expressed by many as to how the profession as a whole will fare over the next decade. The common view is that the quality of work (and life) for the median lawyer will continue to be eroded. Why is this so and what can be done to improve fortunes? More

Talking With One Voice
Integrated marketing communications is the name; clarity and consistency is the game. Students of marketing communications are inculcated with the need to create compelling, consistent and clear messages that can be directed to an array of targeted delivery channels. In considering communications (whether internal or external) it is critical to ensure all potential mechanisms and materials, their impact and inter-relationships, are considered and aligned. More

For What It’s Worth...
One of the hot topics of the moment (and, in all likelihood, the foreseeable future) is the impact of external investment into the profession as a result of the Legal Services Act. The knowledge strategist will recognise that any assessment of their firm for investment appraisal purposes will involve thorough due diligence of the KM function and a view being taken of its ‘value added’ contribution and potential. More
News bytes

Legal Today to carry Hedley Consulting articles
Legal Today (www.legaltoday.com), the leading online website targeting the Spanish and Latin American legal markets, will now be carrying contributions from Hedley Consulting. To read the first article click here.

9th Annual Strategic Marketing for the Legal Profession Conference
Andrew Hedley will chair the second day of the Strategic Marketing for the Legal Profession conference which is now in its ninth year. The conference will be held on 1st and 2nd October in London. For a copy of the conference brochure click here or to book a place click here.

MPF European Practice Management Awards 2008
The MPF Annual European Practice Management Awards. Europe’s premier awards for excellence in professional services management, are now in their 7th year. Showcasing leadership in a wide range of management disciplines, the awards will be announced at a ceremony and gala dinner will take place on 8 October in London. Andrew Hedley will again be one of the expert judges. For more information about the awards click here.

Developing Strategic Client Relationships Report
Andrew Hedley had produced a comprehensive report, Developing Strategic Client Relationships, which is published by ARK Group. Running to over 150 pages, with case studies of leading firms and ground breaking initiatives in this area, the report brings a much needed strategic perspective to client development and relationship management. For more information about the report and to order a copy click here.
Hedley Consulting New Broad Street House
New Broad Street
London · EC2M 1NH
Armucliffe House
17 Silver Hill Road
Sheffield · S11 9JG

T: +44 (0) 870 4862115
Fax: +44 (0) 870 4862116

Hedley Consulting Ltd. © 2008