Learn quickly from 'Death on the High Street.'

As many business owners will now testify, recessions are very unforgiving for poor business models. Look no further than the carnage that has taken place on your local high street. The giant that was Woolworths sold Pick & Mix to people whilst paying premium retail site rates and couldn't make it pay. The guy that took this business online has become a millionaire within 3 years.

However, many retail businesses continue to flourish whilst charging premium prices, so what is the secret? Well Apple supply things that people want and John Lewis provide the necessary levels of customer service. Luxury brands such as Louis Vuitton supply both and are enjoying record sales. At the lower end Primark thrive on filling a certain market segment with 'value' product without much service. The retail sector, like many others, is polarising at both ends. Those retailers stuck in the middle with no point of difference are in a world of hurt. Think of HMV who sell products available cheaper on the internet via stores staffed with average staff to a target audience who prefer to shop online! Ouch.

Remember only 15% of people only buy on price. That means 85% of customers do not. But they still demand value, so what is yours? If you think I am wrong and there is no money to be had in the economy go to a high end retailer and see what occurrs. I can assure you there is no lack of money. 90% of people who were in a job in 2008 are still in one. There are still hundreds of thousands of wealthy potential clients out there with significant disposable income. How are you going to reach them and convey your value message?

The winners will successfully deliver their marketing message and have trained staff who don't just pay lip service to customer service. How will you fare?

What We can Learn from the Success of Google

I recently had the pleasure of witnessing a presentation from Alexis Giles, Head of New Business Development at Google, as to how the company promotes entrepreneurial thinking and creativity within the business. The content kept the audience captivated by it's simplicity and common sense approach yet at the same time highlighted how few businesses outside of California's silicon valley have the courage and forsight to adopt such an approach. I have tried to do the topics justice in the following short messages and I hope some of you might be brave enough to adopt some of the learnings.

1. Ideas come from everywhere and everybody. Senior staff do not have a monopoly on idea creation.How often do you actively encourage and reward all members of staff to contribute to the forward strategy of the business?
2. Share everything you can. Open forums for free information. Credit is given where it is due. Free from politics. £100 Peer bonuses available monthly to all staff to be given to any fellow team member they consider worthy of receiving recognition on a customer service or profit generating work. Many staff awards programmes in addition to this.
3. Get brilliant people when recruiting. Look for long term retention. Friday perks such as free beer or wine given in the afternoon around 4pm. 3 Free meals per day. Breakfast from 7am, lunch and dinner at 6.30pm. Many staff stay and work 12 hour days as a result. Free micro kitchens including Coca Cola and M&Ms at various sites around the offices! Staff go through up to a dozen interviews to ensure they are a good fit with the company culture as well as having the necessary academic credentials.
4. Choose your dreams. 20% time is available to undertake creative projects for the good of the firm. Wide licence to play fuels innovation. Time for product innovation and incubation.
5. Innovation not instant perfection. Launch it even if it’s imperfect and let it evolve. Just ship it. Madonna theory of constant change.
6. Data is Apolitical. Judge ideas by facts. Use research data then “eat your own dog food”. In other words try before you launch.
7. Creativity loves constraint. Adapt a problem solving culture.
8. Always prioritise users over money as money follows users. This is huge as many firms try to make cash from day one of a product or service launch which in many cases is totally unrealistic. Following their purchase of YouTube they drove users well before they tried to monetise the service.
9. Don’t kill projects, just morph them. Regroup and rethink. If it was worth investing all the time and effort to get it to this stage then it must be worth something.
10. Finally, remember anything is possible - think like an American! Forget British negativity and always look for a positive angle.

Whilst Alex confirmed that they do have an office full of lava lamps and travel to internal meetings on a segway, more importantly there is very little heirarchy involved and board members share communal office and dining space with junior staff which promotes cross functional knowledge and ideas throughout the organisation. The attitude is one of there is no such word as 'can't'. How does this compare with your organisation?

'Rock Star' lawyers with Business brains!

Our latest in depth interview with leading Professional Firms and their approach to Business Development sees us arrive in the Criminal Law area with Regional Heavyweights Burton Copeland and their Practice Development Director Harry Ward. As ever, this is just a snapshot from a larger piece intended for future publication in a book covering the top 'Rainmakers' in the Region and a full version can be seen on request.

AM: What do you attribute your success to?

HW: Superior client service, integrity in business and financial dealings, and striving, with some success, to be better than the rest. We have a solid management base and are able to take opportunities as they arise. We have excellent brand recognition and often appear at number one in the leading legal directories. Our culture and reputation precedes us as we have won a number of high-profile cases.

AM: Can you share an example of your entrepreneurial approach?

HW: Recognising that private road traffic work was distinct from the general crime side of the practice and needing a more consumer-based approach. We realised we needed to create a brand and a new marketing strategy involving a new website and the promotion of the individuals within the Department. The result is www.drivingoffence.com, which has been hugely successful.  We look on this as bringing a ‘product’ to the consumer rather than a legal service especially now the market appears to be saturated. Clearly the domain name is key.

AM: What differentiates Burton Copeland from other firms? 

HW: We have an outstanding reputation for integrity and results within our field. We also benefit from having some ‘rock star’ lawyers among our successful team.

AM: What are the largest challenges that you currently face?

HW: Managing a law firm dependent to a large extent on public funding regimes is a constant challenge. Government policy also means constantly moving goalposts, which makes it really difficult to create long-term strategic plans. We will have to deal with cuts to Legal Aid as part of the reforms recently implemented by the Ministry of Justice. Again dealing with the effects of these reforms on profitability whilst at the same time attempting to cope with increased regulation and quality requirements given the fact that there will be little likelihood of an increase in support staff.

AM: Who has inspired you along the way? Any mentors?

HW: Mike Mackey who is the managing partner here, is a good lawyer but also has business brain, I’ve not come across many in my career. I also have a lot to thank Ivan Lee for; he was my MD when I was in the dental industry. He got me involved and gave me opportunities despite my lack of formal qualifications at the time.

AM: What role do you see technology playing in the future? 

HW: Technology has been a significant factor in the development of the firm over the years. We are committed, as a strategy, to employing the most up-to-date infrastructure and systems, without doing that in the legal aid market you would not survive. Increasingly, consumers are buying goods and services electronically and there will be some expectation from them that law firms will do business to some extent in the same way. Whilst that may not always be practical, firms need to ensure that technology can at least match their client’s perceptions and expectations. As rates are between £48 and £95 per hour compared to corporate law rates, we clearly need to have good case management software in place. Our other back-office systems allow us to also have a ratio of only one secretary to six fee earners to keep our overheads down. We are also currently looking at introducing an iPhone application for the practice. 

AM: What advice would you give to other firms looking to bring about change? 

HW: Forget the past, the legal market is changing and you have to change with it by developing a good business model, having a plan and sticking to it. Too many people in the profession said the Carter changes would never happen and are now paying the price.

Why The Next 30 Days are Critical

The next 30 days are critical to your success. There are very few times during the year that are as important as November.

The window of opportunity is short and you have to take full advantage. By the third week of November many prospects and customers go into holiday mode. We begin to hear that all too common phrase, "call me in the new year." This response can be a winner or a killer. If you work really hard through these next 30 days with tons of prospect appointments, your schedule will be packed through the end of the year, so prospects who put you off until next year won't negatively impact your success. In fact, you have two possible scenarios with these people. Either they genuinely have no interest, or they have a legitimate reason to buy in January, February, or March.

The next 30 days can determine your success for up to the next 6 months! Use this time to give everything you've got—where you feel like you've got nothing left to give—knowing that when the holidays come around, you'll have time to rest, recharge, and have a powerful pipeline awaiting your return in January!

What truly sets You apart from the Competition?

The more people I meet in business, the more I realise so few of them do themselves justice when telling potential clients what they do. Whether at an informal networking event or in the boadroom very few people have mastered the art of verbalising the benefits of their products or services.

The 3 most common reasons given for choosing one supplier over another are price, quality of staff or product and the ubiquitous claim about superior customer service which in most cases is nonsense. Taking the pricing issue first it seems that there is always some idiot prepared to do it cheaper than you. Proving the quality of staff or product is difficult without third part testimony via case studies and testimonials or guarantees. As for claiming 'good service', well just try and write down on a piece of paper what you think you do that none of your competitors do. Not easy if your honest with yourself is it?

I cannot tell you how much easier your lives will be if you work with your colleagues to answer the following questions:

Why do I need your products or services at all? Why should I buy from you rather than someone else? and finally, Why should I buy it now? Let me know how you get on.