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Essential Leadership Skills for Driving Sustainable Growth

Essential Leadership Skills for Driving Sustainable Growth. High Performance Leadership in Professional Service Firms – the empirical case?. Organisational Performance. Time. Research Summary Rate of change and complexity are determinants Many organisations fail or are acquired

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Essential Leadership Skills for Driving Sustainable Growth

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  1. Essential Leadership Skills for Driving Sustainable Growth

  2. High Performance Leadership in Professional Service Firms – the empirical case? Organisational Performance Time Research Summary Rate of change and complexity are determinants Many organisations fail or are acquired A few manage to grow and succeed New entrants appear and grow fast Weaker leaders and fee earners are exposed Key to success is responsiveness to change Predictably, next year’s changed market will mean some Firms will make it and others will not.

  3. High Performance Leadership in Professional Service Firms – the empirical case? The key differentiators at the time of change Strategic Intent Client Focus Adaption and Innovation Teamwork People Brand Development Business Development Leadership

  4. The Gifted Lawyer versus The Gifted Leader – what is needed today? Leaders and Lawyers BORN? or BRED?

  5. The Gifted Lawyer versus The Gifted Leader – what is needed today? GIFTED LEADER High Leadership skills Low Legal Expertise Low High GIFTED LAWYER

  6. THINK INVOLVE INSPIRE DELIVER Driving Profitability and Growth through Behaviour Develop strategies to get fee earners thinking more broadly and flexibly. Ensure the Firm is well informed and innovating. Develop contingencies Implement people development strategies Create a team environment where people say what they really feel and who add real value when they come together Have strategies for building confidence in the brand. Create alliances and networks to influence outcomes. Build belief in success in good and bad times Create an organisation free from bureaucracy that empowers people to take action and sell Set the bar high and create a culture of improvement Always have the client in mind

  7. Business Development in Law Firms – replacing traditional approaches Fee Earner’s current capabilities and performance Best legal expert Meeting particular client needs with specific solutions Focused on one part of the service Building relationships with the direct client (fee payer) Exceeding individual fee targets Building confidence and trust in the service Successful fee earning in a more predictable environment

  8. Business Development in Law Firms – replacing traditional approaches Fee Earner’s future capabilities and performance Understanding the clients’ needs from the clients’ point of view Providing creative and holistic business solutions Dealing with multiple services, approaches and options Building relationships with multiple stakeholders and decision makers Working effectively in teams (internally and externally) to exceed Firm’s targets Building confidence and excitement in the offer and the brand Develops business and earns fees in a fast moving, complex, competitive environment

  9. Business Development in Law Firms – replacing traditional approaches Additionally, sales processes need to support fee earners and drive activity PERFORMANCE NOW • Pipeline management - volume , velocity, prioritisation - eliminate ‘the maybe’ – ‘a no is better than a maybe’ - ensure daily, weekly and monthly reviews • Account planning - increase face to face time with clients by 25% - empathise with the client’s needs in the current climate - engage your client in your plans for them • Sales forecasting - ruthless realism - ask fee earners to ‘flag’ what they can close in the next month or quarter - always have a weekly, monthly and quarterly outlook • Sales management - keep your discipline - prioritize – not a minute wasted - innovate through the whole team - treat information as a valuable commodity

  10. Embracing Commercial Development Methodologies in a Changing Marketplace Some practical and necessary approaches to embedding a sales culture • - Develop fee earners and leaders in the skills to manage change • - Identify the Firm’s high potential group and ensure focused development • - Implement detailed account planning for the next financial period and thereafter • - Embed any efficiencies that have been adopted in recent times • - Organise cross-practice teams to innovate for the future needs of the client • - Target the ‘Opportunity Share’ not the ‘Market Share’ over the next three years

  11. Essential Leadership Skills for Driving Sustainable Growth Contact: +44 (0) 203 176 4204

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