Having your cake and eating it

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12 November 2014


 

LawNet board members were joined by head office staff to celebrate the network’s 25 year anniversary

LawNet, the national network for independent law firms, is marking its 25th anniversary with a call for independent firms to innovate.

And that will be the message for the network’s annual conference, when nearly 200 members from firms across the country take part later this month, (November 2014).  A programme of high profile experts will be outlining how to adopt an innovative mindset, develop a strategy and structure the business in a way that put innovation at its heart.

Originally conceived as a collective purchasing group when it was set up in 1989, LawNet is well known for its long established professional indemnity scheme, which helps to stabilise and reduce premiums for firms through a member scheme with £1.2bn of premium buying power.   But twenty-five years on, the network’s offering now extends across quality accreditation, networking, practice development, marketing and CPD learning alongside its buying power.

This will be the first conference for new LawNet chief executive Chris Marston, who previously developed the professional practices division for Lloyds Banking Group.  After taking over earlier this year, he is now spearheading a major growth plan for the network, with a focus on progressive firms who wish to remain independent but want to collaborate on the things that matter.

“As we move into our next quarter-century, our focus is firmly on innovation and helping our firms to succeed,” said Chris Marston.

“We set high quality and management standards for members, and that helps to maintain the parity between our firms, which in turns leads to a cooperative powerhouse effect, where everyone benefits from collaboration and networking.”

“We’ve recruited four new member firms in as many months since my arrival, and that tells me there is value in a mutual model that protects the identity of well-managed SME-sized firms.”

 



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Joint (ad)ventures in the legal sector

Nigel Wallis lo res

We all know that nothing in life is certain. As the actor, director and philosopher Clint Eastwood once said: “If you want a guarantee, buy a toaster.” He also said he’d tried being reasonable and didn’t like it. They should teach this kind of philosophy in law school. One thing in life is reasonably certain though. If you’re a law firm worth your salt, at some point you will be approached by another entity (most probably a work introducer) with a whizzy idea to ‘partner’ with you to ‘help you accelerate your growth’. In commercial speak this means, ‘we’d like to keep feeding you work but we’d also like to share in your profits’. The arrangement may be pitched to you as a joint venture – a win-win no less.

March 27th, 2017