Unlocking Legal Business - Law Firm and Corporate Law Department Consultants

Unlocking Legal Business - Law Firm and Corporate Law Department Consultants

The business of law was first reflected in the rise of consultants. This began at the turn of the century. Consultants recognized that lawyers needed guidance for issues around growth, compensation, and marketing. In the last 10 years the scope of consultant services expanded to In-house legal departments. Their role has significantly increased as a result of technology. They can innovate. The first consultants can trace back to Hildebrandt, Altman Weil, Edge International and a number of other firms who lead the way.

The heart of consultant’s services is that they have worked with different clients and in different organizations. Based upon this experience they have a broader perspective than most attorneys. Consultants can resolve issues as independent advisers. They analyze current strategies. Client's successes and failures are discussed. This begins with interviews of key personnel. Data analysis in a key element. Of particular interest is competitive analysis.

All firms want to be the business leaders at all levels. Consultants can be their guides.

                                                                            GlobalLegalLeaders.com- Consultants

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Hiring a Consultant or Advisor    from: Leaders in Legal Business

Michael Roch Chief Commercial Officer Allianceboard,  Managing Director Managing Director; MHPR Advisors; Partnerships Advisor Partnerships Advisor Performance Leader

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“Who cannot give good counsel? ’T is cheap, it costs them nothing.” (Robert Burton, Anatomy of Melancholy, 1621) Law firm leaders get input, information, ideas, suggestions, and advice from myriad external sources, including conferences, universities, colleagues of managing partner, information distribution lists — and the list goes on. Internally, the leaders of the most successful firms often have good systems in place, good people to run them, and good partners who provide constructive in put regarding how the business should best be run.

With all of this knowledge, expertise, and experience around, why would you wish to engage with management consultants? It’s a fair question, given the amount of scrutiny (and sometimes worse) you may expect from colleagues anytime you suggest that your law firm may need assistance from the outside.

This chapter addresses:

1) Why law firms hire consulting firms or consultants in the first place;

2) Subject matter areas for consulting that add value;

3) What to expect from each of the three broad approaches to consulting;

4) What a typical consulting process looks like; and

5) How to hire a consulting firm or consultant (and how not to).

1) Why Law Firms Hire Consulting Firms

Even the largest firms with significant internal resources in finance, human resources, marketing, business development, knowledge management, and operational management

Eventually end up with opportunities or challenges that neither their usual external informal networks nor the internal management team can solve. These issues usually have one or more of the following attributes:

The topic is too big: The expertise within the management firm simply isn’t broad or deep enough to resolve the topic. For example, the management team knows that knowledge management is an ineffective way to drive down costs, and the practice heads and management team have done all they can do within their level of expertise.

Consulting firms that are subject matter experts in a given area can fill in the missing expertise.

The topic is too politically sensitive: The expertise may or may not exist within the firm, but too many of the partners involved in developing a solution either can’t sufficiently separate their own interests from those of the firm or will be perceived by their other partners as having an axe to grind. For instance, changes to how partners are remunerated or how their performance is measured and assessed often falls into this category. This requires consulting firms that not only have the subject matter expertise, but are also experts in stakeholder management and process design. This leads to designing partner involvement interventions that achieve a resolution passing the required voting threshold.

The topic is too important to handle in-house: The expertise may exist, and the topic may not be all that controversial, but the risk of getting it wrong is so great that external validation helps weld partners to a decision that they will comfortably implement. For example, a firm has been approached by a larger firm that seems like the ideal merger partner, the financials look good— but there is lingering doubt about whether the combined platform really will increase profits or whether the partners of both firms really are as culturally — behaviorally — compatible as the initial meetings and cocktails suggest.

There are too many topics: The management team knows there are many facets to a single challenge or too many opportunities to pursue. For example, the firm has experienced sliding margins for the last five years, its market is contracting, and prices (rates and structure) are under increasing pressure. Do we have a profile problem, a business development problem, a pricing problem, a problem with our culture that our partners don’t sell enough, a cost problem, a people problem, a partner underperformance problem, some of the above, or all of the above? This scenario requires less of a deep subject matter expert, but rather a business consulting team that understands how law firms work, with an analysis methodology that achieves a hard diagnosis, and helps management break down and prioritize the challenge.

Management capacity is too limited: Sometimes the challenge and the path to resolving hat challenge are both clear, but the firm simply doesn’t have a sufficient number of bodies to carry out the actions required. Depending on the nature of the challenge, a consulting firm can serve as a stopgap by seconding one or more consultants to turn the situation around and to then hire someone to be employed by the firm.

2) Subject Matter Areas to Add Value

There is no consulting firm capable of advising on every business challenge or opportunity. The subject areas are endless, from blue-sky thinking about a possible new practice to enter to working hands-on on the day-to-day implementation of a new robotics process. The following broad categories provide a small cross-section of the spectrum:

Strategy: This is ably covered elsewhere in this e-book. Topics might include:

– Where to compete and how;

– Finding growth markets and coping with declining markets;

– Entering new practice areas or getting out of unprofitable ones;

– Geographic strategy (cities, regions, and countries) — getting in, working profitably, or getting out;

– Innovating how work is done and progressing the firm’s operating model;

– Developing the firm’s strategic intent and business model;

– Implementing strategies to reach that intent; and

– Designing an M&A strategy, and deciding whether to merge.

Relational capital: This includes everything that is market-facing, such as:

– Increasing business development returns;

– Managing key client relationships;

– Developing referral sources;

– Brand building and profile raising; and

– External communications.

Service platform: This area covers everything having to do with service delivery, such as:

– Developing and growing the firm’s portfolio of services;

– Pricing, alternative fee arrangements, and pricing management;

– Delivery processes such as legal project management and process mapping;

– Knowledge, intellectual property, and innovation development;

– Intelligent process automation / robotics; and

– Sourcing, flexible working, and outsourcing of legal work.

Human capital: This area covers a number of topics related to talent (after all, law firms are, first and foremost, people businesses), such as:

– Winning the war on talent;

– Recruiting the best partners, business managers, and fee earners;

– Leadership development and assessments;

– Diversity development;

– Learning, professional development, and training;

– Talent management and human resources; and

– Internal communications.

Organization: This covers everything around the organization that supports the firm’s client work and includes:

– Organizational design and structure;

– Decision-making, accountabilities, and overall governance;

– Incentives and remuneration of partners and senior managers;

– Partnership structure;

– Culture, values, and behaviors;

– Management system; and

– Succession planning.

Operations, finance, and risk: These cover all of the back-office functions, such as:

– Information technology;

– Facilities management;

– Risk management;

– Financial management;

– Administration; and

– Sourcing and outsourcing of non-core business functions.

The above can serve merely as examples of consulting areas. Each area will have hot topics, trends, and themes and will differ somewhat from country to country. For example, a country with a closed legal market that is opening up to international firms will see a flurry of market entry strategic, and merger advice; in countries with mixed ethnicities, law firms seek consulting in relation to talent, diversity, social mobility, and economic empowerment.

No matter what the subject matter area, there often are more subtle topics to be addressed, such as:

–Collecting fact bases and evidence to support recommendations. Through research and market knowledge this may extend to peer group comparisons, sector analysis, client and market opinion gathering, etc.;

– Identifying the options that are realistically available, the consequences of taking such courses, promoting the preferred option, and offering clear rationale for such preference;

– Focusing the minds of partners and other stakeholders on the things that are important and relevant;

– Leading an intellectual journey designed to reconcile (if possible) disparate views and/or preferences and/or prejudices into a common or substantial majority understanding;

– Identifying blockages (whether in systems, organization, or culture) that stop firms being able to change or improve themselves, and showing what must be done to make it happen.

Paying for consultancy is wasteful unless the people who will have to do things differently understand what must change, why it must change, and, crucially, agree to do it;

– Helping leaders to understand what must be done to implement the solutions successfully; and

– Working with leaders hand-on as quasi-internals to help achieve the desired outcomes.

All of that said, a good consulting firm will not seek to push their product or service, and won’t try to put your problem into their box; instead, the lead partner will seek to deeply understand he needs of the firm and its management team, and then craft a process by which their challenges can be overcome.

3) What You Can Expect

A good consulting firm should always distinguish between a.) the subject/content area of client’s challenge or goal, and b.) the process by which that challenge is overcome or goal is realized. The last section dealt with the subject/content area; this section explains why the process i important and the type of process that a law firm should expect of a consulting firm.

The process by which a consulting firm helps firm management overcome a challenge or realize a goal is critical for several reasons. First, while firms in similar market positions and of similar sizes may have similar challenges and goals, each firm is different; a pre-packaged solution often does not work out of the box. Second, it is highly likely that the firm’s management, with or without partner consultation, has already thought about an issue and is calling the consulting firm because the firm is stuck and can’t make progress on the issue. Third, the consultant’s first rule of engagement is that s/he must do no harm, and proper advice can be given only once the firm and its challenge are understood fully and deeply.

We distinguish between three types of consulting engagements: a consulting project a round a given set of challenges (perceived or real) or goals, retained advice, and ad hoc advisory work. We consider these in turn, followed by a note regarding implementation and related services.

4) Projects-Based Consultancy

Consulting takes various forms, depending on the client’s situation and needs. Our organisation usually takes on discrete assignments that have multiple stages or overlapping/parallel elements, and can range from two weeks’ duration to 24 months. With such large assignments, itis essential to have a clearly defined objective and a detailed project plan agreed upon in advance ith the client, and there will usually be a specified outcome. Most consulting projects — whether it’s a few meetings with experts or a project lasting 12 months or longer — usually have the following five broad components:

First, definition and diagnostics: This simply asks the following question: “What’s going on here?” The purpose of this element is to determine the actual underlying challenge, and whether this challenge is the same or different from the one perceived by firm management. Second, this element seeks to fully understand this challenge or, depending on the objective, to understand the goals that the firm needs to achieve relative to its competition. Third, depending on the project, this element also seeks to validate assumptions, develop and validate hypotheses, and to uncover insights that help develop options for a solution to the issue in the steps that follow.

Depending on what needs to be done, this element may simply take the form of a structured an management interview, though additional assessment work is likely (financial, client, process, culture, talent, etc.). Even our best-structured assessment tools need to be tailored to each law firm in order to accommodate its unique features, and often to accommodate the lack of sound management information that goes beyond basic financial data.

For a major project that seeks to change how partners operate the business (and their practices) or to help a partnership make fundamental decisions about their future, we usually encourage that partners outside the firm’s management are involved early in the diagnostics process.

If this initial stage discovers that the problem the firm’s management wants the consulting firm to address isn’t the most important issue, a good consultancy will not blindly carry through the project that was sold but have a candid discussion with the client about a fundamental adjustment to project scope.

Second, developing and testing options: Unlike in law, in business there usually is more than one right answer to a challenge or more than one way to reach a goal – it is the constraint of resources (partner time and money available for investment) that often helps determine the best way ahead. Developing different options and testing which option will provide the maximum benefit to the law firm with the least investment of partners’ cash and time is a better approach than to provide one solution and ask the partners to accept or decline this single option. In our experience having worked with major law firms in more than 50 countries, we find time and time again that most well-meaning initiatives put forth by firm management end up not being implemented or adopted by partners because firm management concluded on a single path too early.

Third, involving partners in decision-making: Most readers of this e-book will belong to law firms with 150 or fewer partners; most if not all partners will know one another and expect some degree of understanding about what management is doing and why. “Horror stories” within law firms abound of Big 4 accounting firms where “partners” are employees who are paid high bonuses but who do not even have a say when their firm undertakes a major merger or acquisition, let alone a lesser decision to acquire a certain piece of software.

We have seen even the simplest measures fail because an insufficient number of partners were involved in the creation of the solution. Diversity and social mobility initiatives are a key example where well-meaning and well-designed initiatives by heads of human resources fail to be implemented properly and, thus, provide a questionable return to the firm simply because the partners were merely informed about how that initiative will add value to the firm but are now sufficiently involved in understanding and shaping how that initiative will change their practices.

The approach that will work best really depends on the size, style, and sophistication of the firm, and the nature and complexity of the problem. In some cases, a factual and directive report is all that is required, but the range of issues that a consultancy deals with tends to be contentious and involve a range of overlapping factors (e.g., culture, governance, and process). Thus, a bespoke engagement plan will need to be designed that steers over time a course of fact and opinion gathering; stakeholder (client, staff, partner) involvement; and communication, which will lead to consensus and usually a vote. The “consultation” is particularly important: People want to feel that they have had a chance to contribute to the debate, air their views, and feel they are being taken into account. You cannot satisfy everyone, but even if the final outcome is not everything that the partners had wanted, they are much more likely to accept and support if they feel that the consultation was fair, open-minded, thorough, inclusive, balanced, and transparent. If you fail to get the consultation right, then the outcome will feel like an imposition; with people of high intellect and egalitarian principles, you can expect heels to dig in!

Fourth, implementation testing and day-to-day implementation: A consulting firm usually assists with implementation in some way, whether by pilot testing the implementation; conducting the full, hands-on implementation as part of the internal team; training and coaching firm members through their own implementation; or simply reflecting the progress of implementation with the relevant members of the firm.

Fifth, establishing and managing feedback loops: The above elements rarely work sequentially; overcoming a challenge or reaching a goal often requires the above elements to be applied iteratively. For instance, a high-level development of broad options for a solution may follow an initial shallow-dive diagnosis, followed by additional analysis work as options solidify and others are discarded. Various groups of partners and other stakeholders may be involved at different stages of the consulting project. Feedback and learning loops may be agreed upon in advance or throughout a project as the scope changes. Note that the above five elements apply very broadly and in principle to any consulting project, whether it’s as operational as a major IT implementation of a new practice management software, a change to how partners develop business, or as strategic and fundamental as a change of the partner remuneration system. The work to be carried out and the exact structure of each element will of course vary widely given the law firm’s objective for the project.

Process design: A law firm should expect its consulting firm to assist in designing a process that helps achieve the client’s objectives so that the subject matter advice provided fits the business, is capable of implementation and takes hold within the firm. This is to ensure the law firm can earn a return from its financial and time investment in the acquired consulting services.

Project management: We stress the importance of project management in consulting projects. A well-managed project, following accepted project management norms, almost always achieves better outcomes and does so more easily, with less time wasted, than a project that is defined as we go along.” Besides the substantive and process expertise, you should ask your consulting firm about its project management expertise, skills, and approach.

Retained Advisory

Sometimes the needs are of a different nature, and then it may make sense to retain a consulting firm or very senior advisor for a period of time. This works best if the managing partner or executive committee is to have an ongoing sounding board providing an external perspective in a myriad of issues that can’t easily be distilled into a consulting project.

The reasons may vary; the three most common retained advisories we see are: 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 for30the 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 exmanaging partners who have offered a lot of help, comfort, and reassurance by selling the stories f 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:

Training: This involves the transfer of skills. In our experience, law firms and lawyers absorb knowledge easily; acquiring skills is more difficult, especially if this involves changing how lawyers work in their day-today client matters. For example, implementing a consulting project about how partners should price their services to achieve higher matter profitability nearly always involves an element of training in assessing price sensitivity and using an IT tool for discount/premium analysis for the implementation of the consulting project to be effective.

Coaching: In the consulting context, coaching involves a one-on-one or team-level resolution of barriers that hold back that individual or team from achieving certain goals. In the pricing example above, one-on-one sessions with practice leaders can help them work with and manage those partners who are reticent to engage with a discount/premium analysis for their matters.

M&A and executive search: When a law firm seeks to acquire another firm, be acquired, or seeks a merger of equals, it may engage a consulting firm that specializes in M&A advisory services; it may also engage with an executive search firm, or it might try a combination of both.

When opening up in a new city or seeking to extend into a new practice area, the firm may also engage with an executive search firm to find the right talent. This is a good and effective route. Here, the lines of where consulting ends and M&A advisory or executive search begins may be fluid and not transparent. It is best if the firm’s advisors work together to define and achieve the best outcome. Good M&A brokers and executive search firms will work with firm management and its management consultants, accountants, and other specialist advisors to ensure that the project is well defined and that the firm’s objectives are achievable. A battle among advisors for “the lead” rarely provides a good outcome for the client.

Interim resourcing. For some types of needs, it is more cost-effective to hire an interim manager or resource than an entire consulting team. An interim resource can add value where the challenge or goal is well defined, the firm has agreed on a path to action, and the interim manager is to lead the implementation. The key challenge for most interim managers is that they very quickly become part of the firm’s internal political system and thus may be viewed by some partners as “having an agenda” Or may lose their effectiveness because they start playing firm politics. Experienced interim consultants and professional interim managers know well how to best retain their “external internal” status, implement the change that is needed, and then turn their brief over to a permanent hire before going to the next assignment.

Non-executive directors. A number of large firms have hired one or more professional non-executive directors. Typically, these are retired executives, providing deep leadership and management expertise form outside the legal industry and can add a tremendous amount of value to a law firm leadership team. They often work alongside retained consultants or help senior management manage the value-add consultants are intended to provide.

What You Should Always Expect

No matter how a consulting firm or solo consultant works with you, you always should expect that the consulting firm is focused on your firm’s challenges and goals, and that the consultant has your firm’s best interests in mind. This sounds like “motherhood and apple pie, ”yet one of the biggest complaints that we hear from our clients about working with consultants is that the additional hour or the additional day charged is more important than the client reaching his/her goals. It is appropriate that consultants look where else their organisation can add value; prioritising selling the next project is not.

5) How to Hire a Consulting Firm or Consultant

In this section, I will provide an approach that works well for most law firm clients. initial consultations: When you know you’ve got an issue but you don’t quite know how to define the challenge yet, or if you know you want to achieve something different from your predecessor but you don’t quite know how to go about it, it is perfectly legitimate to call on a consulting firm or a solo consultant. You can sound them out about how they would approach the topic if they were in your shoes once internal resources and the thoughts by retained advisors are exhausted. That initial conversation, or even two, should always be free of charge, as the consultant32should be pleased to build a relationship with you. If the problem resolves itself in these conversations, fine. Undoubtedly you will show your gratitude and call that same consultant again when the next topic comes around for which external input may be valuable.

Defining a scope: If these informal soundings are not sufficient, it is most effective to develop a short brief and get input from your consulting firm of choice. If that consulting firm is an expert in the subject matter, it will be able to assist you in shaping project parameters that help you overcome your challenge or achieve your goal. As is true for any type of project, you then agree on a scope and a fee basis for the work to be done if it’s a project (see above), or the terms f a retainer or indeed a combination of the two along with a success fee, as appropriate.

Defining objectives and scope is critical, no matter how the consulting firm wishes to price the work to ensure the law firm in the end gets the value it wants. Consulting fees: Consulting firms often charge by the hour or the day. This is appropriate for work where the scope cannot be defined easily or if there are too many “known unknowns” in the work to be done. In most cases, any efforts-based pricing will put the interests of the consulting firm squarely against the interests of the law firm; the consulting firm will want to maximize days spent, and the law firm will want to minimize the time spent to save costs.

We posit that in many cases, a clearly defined scope and a fixed fee or retainer, sometimes coupled with a success element as appropriate, often is fairest to both sides. This is because this approach focuses on the challenge to be overcome or the goal to be achieved, not the inputs to get there. This approach helps establish clarity at the outset, allows both sides to plan their cash flows, and can avoid often tedious discussions about why our team needs to involve two or three team members.

This approach does require for both sides to be willing to have early and candid discussions about scope changes. Competitive bids: It may be helpful to get input from several consulting firms and to select the firm that provides the best approach combined with the best price. This approach works so long as the challenge and goals are well defined. In our experience, we can achieve the best results when the client remains open to changing its approach, both on how it wants to work with the external firm and on its selection process. Rigidity often provides a result that falls short of what the firm hopes to achieve. I remember vividly receiving a request for proposal (RFP) to advise a firm on changing how partners are paid; I had to go as far as advising the managing partner that his partners would likely depose him if he insisted on the methodology provided in the RFP. We then could suggest an alternative approach that ended up not only saving the firm money but also achieved a high-quality result.

Approach, methodology, technology: We distinguish between approach and methodology that the consulting firm intends to apply to the work at hand; both are very important.

There is a big difference in approach and result among consulting firms that labor through structured workshops, rely on a lot of data mining, or rely solely on the “grey hair” and experience of its consultants. Each approach is appropriate sometimes, and likely a combination will help achieve the desired outcomes.

The methodology that a consulting firm applies is equally important. This is because the field of consulting does not have an easy reference point similar to codified law or generally accepted accounting standards that define lawyers’ and accountants’ advice they provide to their clients. Experienced consultancies continuously refine their methodologies as their main reference points in how they provide and tailor advice to help solve their clients’ challenges. For example, we often rely on a proprietary assessment methodology that allows us to get to the heart of any professional services firm quickly; the methodology combines the Balanced Scorecard, Intellectual Capital, and the McKinsey 7S, and is uniquely suited to law and other professional services firms. We also have developed a certain way of designing our partner workshops in a way that is particularly engaging (and disarming!) of highly intelligent and equally critical law firm partners.

Proprietary analytics technology plays an increasing role in consulting projects on the operational end. This includes legal project management, law firm cost management, e-billing effectiveness, and the like. Less “legal” areas include pipeline effectiveness analytics, talent turnover cost projections, and robotics /intelligent process automation implementation.

In short, the firm’s approaches, methodologies and technologies need to be appropriate for the challenge to be overcome or goal to be reached, and both approach and methodology need to resonate with the law firm’s approach, culture, and way of doing business.

Additional things to expect in a proposal:

In addition to scope and fees, any proposal should contain a clear understanding of what value-add the law firm seeks to gain from the consultancy’s involvement. Measuring this value add sometimes is simple (“help us achieve a reduction in WIP days by 20 days”); sometimes it is not (“help us overcome our non-confrontational partner culture”). Where hard financial measures are difficult to come by, law firm and consultancy could agree at least on a qualitative indication of what the client hopes to achieve.

The consultancy also will usually spell out a short track record that proves the consulting firm’s expertise in handling similar issues. Where relevant, specialist, or professional qualifications of the team members also should be explained. In our experience, it is helpful to have a team of several qualifications working with a client organization, whether this is in consulting or in accounting, psychology, finance, law, economics, or banking, just to name a few examples.

Terms of business should include assurances of confidentiality of your sensitive information for a number of years. It is also common for consultants to ask that the client’s name included in their pitch materials but, if it’s non-competitive, to keep the nature of the work confidential. We do make proper introductions to existing clients once a new client has made the “but for” decision to work with us.

Some firms provide an unconditional satisfaction guarantee for most work. We are comfortable providing this because we are experts at what we do, and we can always deliver against the scope upon which we have agreed. This approach also sets up early discussions if there is dissatisfaction looming instead of a soured relationship at the end of the engagement.

A Final Word on Consultancy

A statement of the blindingly obvious is that no law firm should seek to spend money unnecessarily on engaging outside consultants. Some larger firms have dedicated internal resources in order to help them find most answers for themselves. On the other hand, many firms labour on, making unnecessary mistakes and missing opportunities because the MP or some of the senior partners have a jaundiced view of consultants. When clients have had poor experiences with consultants, this is so often for one fundamental reason: usually it turns out that the client and consultancy didn’t work hard enough to clearly spell out expectations, outcomes, and value-add the work was to achieve at the outset of the engagement. Sometimes, of course, insufficient expertise by the consultancy of the subject matter, knowledge of the legal sector, or an understanding of how professional partnerships work is also to blame.

Faced with a real problem impacting competitive capability that is beyond the ability, experience, and resources of the firm to resolve in-house, the timely involvement of a properly selected consultancy can produce huge value, open up possibilities that were closed, and increase the satisfaction and sense of purpose of the partnership. Not to overstate the case, but having the right people on your side can even help ensure survival in the most intensely competitive markets we have ever experienced.