A mid-size law firm in suburban Melbourne has a strategy for competing against CBD competitors.
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Entrepreneur: Murray Baird, Senior Partner
Company: Moores Legal
Business type: Full-service law firm
Founded: 1971
Employees: 70 staff, including 12 partners
Turnover: (2004 - 2005) About $10M
Head office: Box Hill, Victoria; branch in Melbourne CBD
Contact details: +61 3 9898 0000
The Moores Legal Story
It is amazing how many people think that a business in the suburbs could never compete with a big, CBD-based organisation. Murray Baird, a senior partner at Moores Legal, says he is often asked why a full-service firm with 35 lawyers is based in the Melbourne suburb of Box Hill - about 30 minutes east of Melbourne’s CBD - rather than in some glass tower in the city.
Baird has three answers: overheads in the suburbs are much lower than what his city competitors pay (and so are fees), access is easy for staff and clients, and the size of the firm encourages more personal service. Moores now attracts clients that would previously have gone to expensive, prestigious city law firms.
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Key learning points:
- Local advantage - Seek the best place - not the most prestigious - for your corporate head office.
- Opportunities - Do not snap at every opportunity; consider whether it fits your strategy. Focus on what you do best and aim for steady, strategic growth.
- Good staff - Many people prefer organisations that are convenient, flexible and friendly, whether they have a nationally known name or not.
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Moores was founded in 1971 by a former policeman, Alan Moore. Baird joined the firm in 1977 and when Moore died in 1985, the firm was renamed Moores Solicitors. Baird says the name change honoured Moore and made clear that Moores was not just a one-man firm. “We wanted to create a firm badge without needing to have twelve partners’ names on the letter-head.” It was renamed Moores Legal in 1999.
The Challenge
To turn a small, suburban law firm into a full-service operation that is recognised by clients and lawyers as a provider of high-quality legal work. To compete against prestigious CBD law firms.
The Solution
Moores has expanded rapidly in the past five years by careful strategic planning, by marketing its advantages to clients and staff, by promoting good corporate citizenship and by enabling staff to have flexible working arrangements and a sought after work/life balance.
Five years ago, as part of Moores’ growth strategy, it employed a full-time marketing manager, Lee Newnham, who previously worked for a big city firm. Newnham has marketing expertise and contacts, and she also coaches all staff to be ambassadors for the firm. Everyone is on the marketing staff.
Moores encourages staff to get involved in local business networks and community organisations. All partners hold positions on the boards of commercial, professional and community organisations. For example, Baird is on the board of an insurance company and consults to the boards of some clients. He is also a Rotarian and on the boards of a local school and church.
Careful strategic planning has helped Moores to achieve its target of 15% annual growth. Baird says: “We don’t go on frolics that will bring us down - such as deals with clients or venturing into providing accounting or financial planning services. We do what we do best. We have remained trusted legal advisors with close relationships with our clients.” Baird says that communicating this strategy to staff so that they understand the firm’s direction is essential.
Mergers with small specialised practises have been part of Moores’ strategy of being a full-service law firm. In January 2005, Moores wanted to strengthen its tax and estate planning and structuring areas. It brought in Allan Swan and Jennifer Dixon, who had a Kew-based national estate planning and structuring practice with a tax emphasis. Moores got the expertise it needed and was able to provide the commercial and private client services that Swan and Dixon required.
Easy access for staff and clients, close working relationships and flexible work arrangements have made Moores a popular workplace. In an industry notorious for its long working hours, Moores has helped its lawyers improve their work/life balance by investing in technology that enables them to do some work from home. Moores provides a friendly and collegiate learning environment with extensive professional development opportunities.
The Result
Moores Legal has grown quickly in the past five years, increasing its number of lawyers from 28 to 35 and doubling its revenue to about $10 million. In addition to its local base of clients, it has won larger corporate clients in the eastern suburbs of Melbourne.
In 2003, Moores was named Best Large Business in the City of Whitehorse Business Excellence Awards. Most partners live within ten minutes of the office and it has not had a partner leave in fourteen years.