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Future-proofing your law firm

By Andrew Hedley, Director, Hedley Consulting

20 August 2014

This is the first instalment of a new monthly Managing Partner column in which I shall examine how law firms can position themselves to create a future that is both profitable and sustainable – the concept of ‘future-proofing’. Achieving this future will mean being prepared to take decisive actions today (which some may regard as being unnecessary or overkill) to ensure that we are able to cope with that which is appearing on the distant horizon, as well as whatever is just around the corner.

For the managing partner, this presents a number of challenges – cultural, strategic, operational and financial – in convincing partners of the need to invest in the future when the burning platform for change may not be fully ignited.

Take, for example, the need of most firms to build their balance sheets, both to create more robust businesses and...

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