The strategy tool to ensure the best disruptors in GRC services continue to boss the market. Ten key questions, 114 detailed issues analysed with clear guidance from current market econometrics.
Find out:
- What it will cost to do that, and by when
- Market penetration by client company size
- Client acquisition cost; market spend pa
- Current renewal rate and lost client value pa
- Rate card pricing per service and client size
- Your current M&A valuation multiple
- Average annual client value
- Growth & profitability norms for the market
- Staff and fee earner costs and benchmarks
- Top 20 rankings and the ones to watch
Current challenges take years to tackle
The market’s shifted - you need to too
The upsides need grabbing, now.
Clients need you more than ever.
Standing still is going backwards, at pace.
Here’s a cost-effective way to get it done...
#Regulatoryconsulting
#HSE #EL #HR #OH #GRC #Risk #Safety #SSIP #Procurement #2030 #Compliance #Regulation #legalservices #insurance #tribunal #FFI #UK
2. The Non-Exec Audit ned
your virtual non-exec
Regulatory Consultancy
Services to 2030
3. Why do you need a Non-Exec Audit? ned
your virtual non-exec
The Non-Exec’s Audit: Regulatory Consultancies
1. What Do You Do? Brand Strengths and Service Mix
2. Who Do You Do It For? Addressable Markets & Penetration
3. Why Do They Need It? Pressures on Clients Quantified
4. How Can You Grow It? GTM, Renewals, and Pricing
5. Why Do You Do It? Stakeholder Value Extraction
6. What’s It Worth? The EV Discipline
7. What Does It Take? Entrants and Investment ROI
8. What Does Winning Look Like? Market Financials & Budget Metrics
9. How Well Do You Do It? Operational Benchmarks
10.What’s Stopping You? Competitive Dynamics
4. ned - Why now?
nedLegal.co.uk T&Cs apply confidential 4
Well, it’s that ‘cobblers-shoes’ thing, or ‘physician-heal-thyself’ perhaps.
Every client here gets an HR audit or Safety GRA. Managing GRC technicalities
‘governance, risk and compliance’ - for owner-managers or in-house pros is tough.
The non-exec’s job is to see the Big picture, so you keep your plans adaptable.
For a decade, for example, Peninsula and Citation deliberately took client acquisition
costs high as a ratio of client acquisition cost to client annual cashflow. The smart
money moved up market ... Where the issue was technology investment. Some said it
took big 7-figure numbers, both in internal process automation and client-facing
service delivery. The GTM challenge was a long mixed martial arts fight; the tech one
is that and more, ongoing. Many were pre-occupied with service development, seeking
the definitive mousetrap that would bring clients flocking to their door. Others looked
to industry specialisms or building national reach.
The point is it’s all about perspective – and the Audit is how you get that.
Simply put, we bring you the discipline any decent non-exec will bring to the table.
- and we put all the current metrics at your finger tips.
You’ll know from clients that it’s hard, but worth it; and it’s only getting harder.
So start here; and start now.
David R Johnston
I first came across this industry when it was stealing my lunch.
What turned out to be a nightmare for law firms in market terms, started
as a clash between insurance companies and publishers. Hambro, Royal
Sun and Willis all had a go; Tolley, Gee, IHS and Barbour dabbled. But
Croner was my team, and we eventually put together the first group to
target the ‘mid-market’ based around IRPC and SBJ brands. It gives us
decades of perspective; we have the bruises to show for it too.
The private equity interest here started with small funds like August and
Lyceum, but upward flipping has now brought several of the biggest
players to the table, running over a quarter of the market’s annual
revenues. A few false starts with AIM and listed companies have now
resulted in a determined effort by Marlowe to lift investment here too.
The driver here, however, has always been the entrepreneurs. Law firms,
insurance companies, accountancies, engineers and bankers have
typically found it hard to get the balance right. But individual lawyers and
especially HR and safety consultants, have made this market their own. It
took a lawyer to build mid-market services in Ellis Whittam. It took
Peninsula to take insurance ‘captive’ to underpin fixed fees. As quickly as
firms like Marlowe and Citation snap up entrepreneurs, more emerge too.
This is not a market for the faint-hearted. The early land grab among
SMEs was brutal … the technology investments chaotic ... the skill
shortages are endemic. What worked yesterday is not going to hold for
tomorrow.
That’s why it’s important to audit where you are, where you want to be
and how to get there. Here’s the econometrics to help you back your
hunches – there’s no right answer (but there are some tired ones).
You do it for your clients – be as disciplined with your own risks.
Any queries, just email dj@nedlegal.co.uk
The Long View
Why do you need an audit?
5. Back to basics ned 1 What Do You Do?
Do you solve People problems,
Property problems
(and/)or Procurement ones?
6. Market econometrics ned 2. Who do you do it for?
Addressable market % penetration,
professionalisms, specialisms and niches?
7. External perspective ned 3. Why do they need it?
GRC distraction costs, the cost
of failure, the cost of lawyers…
8. Hard, real benchmarks ned 6. What’s it worth?
Timing, multiples, active buyers
and hot spots?
9. The unvarnished truth ned 7. What does it take?
Investment, guts, timing,
new starts/new services?
10. The Non-Exec Audit ned
your virtual non-exec
Check
these
out
What it will cost to do that, and by when
Market penetration by client company size
Client acquisition cost; market spend pa
Current renewal rate and lost client value pa
Rate card pricing per service and client size
Your current M&A valuation multiple
Average annual client value
Growth & profitability norms for the market
Staff and fee earner costs and benchmarks
Top 20 rankings and the ones to watch
11. The Non-Exec Audit ned
your virtual non-exec
Why now?
Current challenges take years to tackle
The market’s shifted - you need to too
The upsides need grabbing, now
Clients need you more than ever
Standing still is going backwards, at pace
Here’s a cost-effective way to get it done
12. The Non-Exec Audit
Order here
Pete Byrne: CEO: ‘I just wanted to say a big personal
thankyou to you for all that you have done for
me and the business! I will never forget your
personal guidance, support and belief in what
we were doing as a business (when many others
told me [it] would never work)...’
ned
your virtual non-exec