UK Top 25 firm expanding into Europe. The Problem
After a strategic review of its sector driven business our client decided to execute an ambitious European expansion program, aiming to enter already crowded and competitive jurisdictions like France, the Benelux and Scandinavia. The client, which operates a very lean and mean management and business support model, lacked the capabilities and resources to undertake greenfield operations (the preferred option/scenario) at such a scale and asked us to assist with designing and implementing their market entry. Our Approach
Our knowledge of most continental European jurisdictions, experience with projects in those jurisdictions, and our track record allowed us to efficiently and quickly develop viable and realistic “value propositions” for potential candidate teams, (part of) firms and individual partners/fee earners. Our tailored and individualized value propositions provided potential candidates/teams with a high-level, attractive overview of the main practices, the strengths and weaknesses of the firm in question and the market positioning aspired as well as the main strategic priorities of the firm.
Our second step was to engage in a range of in-depth, confidential and structured discussions with selected targets, market leaders and business networks in the respective markets. In parallel, we prepared draft blueprints of the new local offices, designed the business support functions and put together draft business cases, including budgeting plans for the short and medium term (1-3 years). Working our contacts, analyzing the outcomes of interviews and assessing the driving competences/capabilities of potential candidates, we put a lot of effort into establishing the “core team” for the new office, ensuring alignment in terms of practices, sector-specific knowledge and client engagements, thereby making use of psychometric assessment tools and performance data analysis. We then went on to “test” the new service offerings with both existing clients of the firm and potential clients in the new jurisdictions.
The last step was, in cooperation with the client organization and the core team, to ensure delivery and project manage the operational aspects of the market entries, ranging from the design of profit sharing models, turn-key premises, business support functions and governance models. Our Solution
In partnership with the client organization we helped them create and establish fully operational, strong and coherent local offices that are well-positioned in the chosen markets and industry sectors and have been cash-flow positive as from year one. After the respective market entries were realized, we also assisted the client with structured, strategic action plans to ensure the new, local offices and partner groups became well-integrated into the client organization. We designed several “post-merger” or “post-onboarding” integration programs, engaging new joiners in business development and marketing initiatives, training and development programs and key client initiatives, ensuring high-impact interaction at a professional, client and business level.