It was announced recently that Metamorph Law has the ambition and strategy to acquire up to 60 high street firms around the UK and the below the line comments (see Legal Trolling article for further thoughts on this) are almost exclusively skeptical, denial or victim syndrome. What if this could actually work and how do you get involved? Rather than looking at the downside of this, why not look at the opportunity?
In my experience, even the most anachronistic law firms acknowledge that the market is shifting and there are worries about being left behind but rarely am I asked how they can come along for the ride and share the benefits. What if you had access to a board that could effectively run all non-legal aspects of your business, look after the SRA, compliance, marketing, HR issues etc? These are exactly the reasons that (90% of 1-5 partner firms tell Ortus Group) underpin their desire to be taken over or exit the business altogether. There are costs involved of course but these are not necessarily financial as increased returns can compensate for a diminished share in the business or indeed guarantee a salary as an employee that you would be delighted to have most years as an owner. The main cost is loss of control and for many, they have to lose it before the realise how happy this can make them.