James Edsberg, Partner
A typical day at Lighthouse? I’m glad to say, that there’s really no such thing.
Every day, we’re asked to consider an array of issues. If there’s a common theme, I’d say we’re asked to identify growth opportunities for our clients and then to help them exploit those opportunities.
I get questions like, “How can our business grow in a mature market? How can we sustain growth against determined competitors? How should we plan for growth? How can we build a differentiated reputation? Is this business worth what we’re about to pay for it?”
What I aim to bring to each challenge is the experience of having helped many businesses in the same situation. And a bit of structure and process to get people from where they are, to where they want to be.
Take last week for example. An international publishing group has researched a new on-line concept and the market likes the idea. But how do they take the concept through to launch and get revenues flowing in?
Lighthouse will support the launch process in the US and Europe from pilot to profit. Using our sector knowledge, we’ll be advising on the new features, price points, customer segments, marketing strategy. And we’ve modelled the likely competitor reactions to the launch. As one of our clients said, “You’ve helped us to plan better”.
Or take another example. Topline sales are slipping for a UK High Street retailer. It wants to carve out a more distinctive position in its market. A smaller range and greater depth is part of the solution. But they want to refresh the brand position too. Working with the managing director, we’re developing the strategy and a step-by-step plan that will take the company to renewed growth.
Most of our clients are busy running their operations day-to-day. Planning for the future sometimes takes second place. That’s where I try to help.
It’s an advantage to have a background in corporate law and private equity. As a former M&A advisor, I’ve seen companies make some momentous decisions about their expansion, particularly in the retail, consumer goods and financial services sectors.
But I also try to add imagination to the mix. Why?
Because sometimes it’s my role to challenge the prevailing thinking with fresh ideas. That’s partly what some clients say they pay for.
And also, if you are looking to a strategy for growth, you need a balance of analytical skills together with some imagination to explore the opportunities.
It’s now been 5 years since we started Lighthouse. Our recent move from the City to the West End has brought us closer to many Private Equity firms in Covent Garden and Mayfair. And it’s easier for our retail clients to drop by the office now that we’re at the heart of the world’s busiest retail space, tucked in behind Oxford Street.
Looking back now, I think we can pat ourselves on the back with the blue chip client base we have built from scratch. The secret? We have a great team. Our consultants have almost all been raised at the large consulting firms and our home-grown graduate stream is making a difference.
Our aims for the next 12 months?
Lighthouse will be making appearances at the World Economic Forum at Davos in 2007 and at INSEAD’s private equity conference. I regularly give web seminars and speak at conferences. We also support some of the training programmes of professional associations in our specialist sectors.
On the client front, it’s about more of the same. We're going to keep focused on the analysis that our clients want and need.