{"id":964,"date":"2016-01-11T10:00:48","date_gmt":"2016-01-11T10:00:48","guid":{"rendered":"https:\/\/www.edwarddrummond.com\/?p=964"},"modified":"2021-12-06T11:53:59","modified_gmt":"2021-12-06T11:53:59","slug":"due-diligence-and-market-research-post-recession-and-the-threat-of-missed-opportunity","status":"publish","type":"post","link":"https:\/\/www.edwarddrummond.com\/due-diligence-and-market-research-post-recession-and-the-threat-of-missed-opportunity\/","title":{"rendered":"Due diligence and market research post-recession and the threat of missed opportunity."},"content":{"rendered":"

The Moving Finger writes; and, having writ, Moves on.<\/p><\/blockquote>\n

The New Year is firmly upon us and, with it, the symbiotic conveyor belts of risk and opportunity again whirr into life and move, ever relentlessly, forward. To paraphrase\/butcher the words of Omar Khayy\u00e1m<\/em> (see top and foot of document), there are no second chances at a first attempt\u2026 so the pressure is on!<\/p>\n

Back in 2010 the moments of real \u2018buzz\u2019 in the Due Diligence research team at Edward Drummond often came about through establishing that a particular client was very likely to follow a potential lateral hire should they move firms or, perhaps even more so, that they categorically would not; \u2018we have saved our client a fortune today\u2019 <\/em>was probably then the most satisfying feeling to go home with. In 2015, when we uncovered BD opportunities for a potential hire not considered in the initial Business Plan, created a clearer view of integration requirements or identified a gap or change in the market which our client could exploit, we went home saying \u2018this information will really help our client to grow and to out-compete others\u2019<\/em>; a different, but equally warm, feeling.<\/p>\n

The observations above are reflective of the changing nature of our clients\u2019 focus over the last 6 years and the fact that, through our Due Diligence and broader Market Research work, we have seen the dial of legal practices gradually move further away from risk and more towards opportunity. Where in 2010 the often almost sole focus of a DD report was \u2018could this Partner bring a bankable following?\u2019<\/em>, now our clients are often more interested in the personal and professional characteristics of a given lateral \u2013 \u2018We know the market is there, we need to understand who has the right personality and relationship capital to potentially work with us to exploit it\u2026 and, assuming they do, can you generate information regarding the best way to go about approaching the market together\u2019.<\/em><\/p>\n

The Due Diligence provision in our business was forged through client led necessity; in the heat of a recession where risk needed to be managed as tightly as possible and firms simply could not afford to get it wrong. This appreciation for and focus on risk will always underpin our value to clients, but the genesis of our research business from that point (across not only Due Diligence but also Benchmarking Exercises, Market Mapping, Feasibility Studies, Competitor Analysis etc..) sees us ever more closely allied with our clients in focusing on data driven opportunity identification \u2013 <\/em>As one Sector Head of a Silver Circle firm recently commented at an 6 monthly review of ED services \u2018It\u2019s not really a question of \u2018we mustn\u2019t get it wrong\u2019 anymore, in a growing market it\u2019s more a question of one of \u2018we need to get it right faster than the competition\u2019\u2026 in reality that\u2019s where we see the most value from your reports\u2019.<\/em><\/p>\n

At ED Consulting we do two things well:<\/h1>\n

1) Research and understand markets from a structural perspective.<\/p>\n

2) Speak to senior people in a credible way to understand the flow of relationship capital which acts across and within these structures.<\/p>\n

Generate <\/em><\/strong>and Interpret Data. Minimise risk. Maximise Opportunity<\/em><\/strong>.<\/em> We aim to provide our clients with the information they need to minimise risk, and realise opportunity, across senior level hiring initiatives and broader business growth\/development projects<\/em><\/p>\n

2015 saw ED Consulting continue to work across the globe, privileged to count some of the world\u2019s leading legal practices as our clients, delighted to be involved in significant lateral hires and fascinating market research projects. We work with you to generate information to help get it right, first time. 2016 is The Year of Opportunity, let\u2019s make the most of it\u2026<\/p>\n

“…nor all thy Piety nor Wit, Shall lure it back to cancel half a Line”<\/p><\/blockquote>\n

Gareth Ward
\nPartner
\nEdward Drummond & Co
\ng.ward@edwarddrummond.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The Moving Finger writes; and, having writ, Moves on. The New Year is firmly upon us and, with it, the symbiotic conveyor belts of risk and opportunity again whirr into […]<\/p>\n","protected":false},"author":1,"featured_media":849,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4,14],"tags":[],"acf":[],"yoast_head":"\nDue Diligence and Market Research Post-Recession and the Threat of Missed Opportunity - Edward Drummond & Co.<\/title>\n<meta name=\"description\" content=\"Due Diligence is changing. Find out more about how Edward Drummond has adapted to best limit risk for our clients. 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