PegasusMRA increasingly supports all levels within chambers to develop specific sector specialisms and/or clients; to develop new processes and procedures (such as public access) and to develop new skills. Some examples are: Preparation for an industry-specific client seminar – for a leading chambers This leading chambers sought coaching support to develop and prepare for a high-level and strategically important seminar. The…
The firm approached Pegasus to raise the profile of risk at all levels across the firm. The firm wanted training that would provide a clear indicator and guide for the introduction of Outcomes Focused Regulation (OFR) under the SRA Handbook 2011.
Following a strategic review process that highlighted an inexorably changing market for its services, the firm adopted a new business plan. For this plan to succeed, the firm had to find the delicate balance between retaining the key cultural traits that underpinned and enabled success, while also driving essential change.
While the firm achieved higher quartile profits, its dominant Senior Partner was approaching retirement age with no clear succession plan. Pegasus also identified that despite profitability levels, most work came from a slowly reducing source of existing clients, therefore placing existing profit levels under pressure. We also saw that a lack of clear strategic direction and slow decision-making processes were inhibiting growth.
Pegasus has helped very many professionals on a one-to-one basis, developing their skills both for their benefit and that of the business. This case study features 3 examples.
An amalgamation of two local law firms with different ambitions: one looking for continuance and survival, the other looking to grow. The merger created a team of 5 partners and around 40 staff, working from 3 offices: one profitable, one loss making and the other stagnant. Overall, the firm was undercapitalised, had high levels of lock up, low profitability and under-performing staff.