20 years of astonishing growth have transformed the commercial legal profession beyond recognition.
It’s now a highly competitive, international industry generating billions in fee income. But a return to better times on the back of recent M&A activity has failed to hide some chronic issues for the growth strategies of firms of all sizes.
Lighthouse’s own research among in-house counsel shows that the dominance of the Magic circle firms is under a sustained threat from a number of quarters. Silver circle, City firms face some tricky strategic choices. National firms have opportunities to win higher margin work and reach into Europe. Specialist and regional practices enjoy differentiation but search for a scale that doesn’t dilute their reputation.
The playing field is more crowded and more competitive than ever. When it comes to finding growth opportunities, some firms risk a merger before addressing their current market positioning. Other firms who prefer to grow organically, will need to allocate resource to the most effective business development tactics.
These challenges require an enlightened approach to strategy, marketing and business development.
It’s now a highly competitive, international industry generating billions in fee income. But a return to better times on the back of recent M&A activity has failed to hide some chronic issues for the growth strategies of firms of all sizes.
Lighthouse’s own research among in-house counsel shows that the dominance of the Magic circle firms is under a sustained threat from a number of quarters. Silver circle, City firms face some tricky strategic choices. National firms have opportunities to win higher margin work and reach into Europe. Specialist and regional practices enjoy differentiation but search for a scale that doesn’t dilute their reputation.
The playing field is more crowded and more competitive than ever. When it comes to finding growth opportunities, some firms risk a merger before addressing their current market positioning. Other firms who prefer to grow organically, will need to allocate resource to the most effective business development tactics.
These challenges require an enlightened approach to strategy, marketing and business development.
Lighthouse works with law firms to identify and exploit opportunities for growth in their markets.
It’s our job to provide you with the business intelligence on which to base good management and marketing decisions. We can help you clarify your strategic objectives and align your internal structure and culture accordingly. We offer detailed insight into the needs and expectations of prospects and clients and develop profitable propositions to meet them. We’ll help focus your business development, identify which markets to enter and suggest strategies to build a premium client base with resilient fee margins.
This is a business we know inside-out. Our founding partners trained and practised law at Freshfields before establishing Lighthouse to advise the legal sector. We’ve since built a track record with leading firms. We understand the culture, the working style and the decision-making process that is unique to partnerships.
We’re one of a handful of truly specialist consultancies advising the legal sector today. You won’t need to get us up-to-speed on your business environment. Far from it. We hope that you’ll benefit from our insight - right from the start.
It’s our job to provide you with the business intelligence on which to base good management and marketing decisions. We can help you clarify your strategic objectives and align your internal structure and culture accordingly. We offer detailed insight into the needs and expectations of prospects and clients and develop profitable propositions to meet them. We’ll help focus your business development, identify which markets to enter and suggest strategies to build a premium client base with resilient fee margins.
This is a business we know inside-out. Our founding partners trained and practised law at Freshfields before establishing Lighthouse to advise the legal sector. We’ve since built a track record with leading firms. We understand the culture, the working style and the decision-making process that is unique to partnerships.
We’re one of a handful of truly specialist consultancies advising the legal sector today. You won’t need to get us up-to-speed on your business environment. Far from it. We hope that you’ll benefit from our insight - right from the start.