A YEAR IN REFLECTION

What an interesting year!

As Pattersons Commercial Law turns a year old, I have reflected on the last year, thought about the things I have learned along the way and planned for the year ahead.

The benefit of a little self-reflection is the ability to understand what worked well with the business plan and to gain a better overview of what could work in 2018.

Reflection

We have worked with some fantastic businesses and inspirational individuals and it has been a pleasure to be a small part of their journey as they continue to build their businesses.

We have stayed true to our word on being able to deliver on time and on budget even if that has meant working around the clock – deadlines are important and coffee helps in times of need!

Our fixed fee model seems to have worked well.  We have found our clients like to know exactly how much their fees are going to be from the start of the matter.  There have only been a few occasions where we have agreed another approach.

I’m pleased to say we have built some fantastic relationships along the way with clients and professional advisors.  Long may these continue.

Some of the types of transactions we have completed include:

Business Sales

 

Contract Negotiations

 

Debt Collections

 

Demergers

 

Employment Matters

 

Leasehold Business Transfers

 

Litigation

 

Management Buy Outs

 

Outsourcing Arrangements

 

Private Equity Investment

 

Share Sales

 

Share Option Schemes

 

Terms and Conditions

 

Some of the industry sectors we have worked with include:

 

Looking Forward

As a commercial law firm, our goal is to challenge the ways in which traditional law firms are set up and to build the law firm of the future.  We want to do this so we continue to provide diligent professional advice, first class client care and value for money.  We’re going to do this by building a team of highly skilled professionals who understand our mission and we are actively recruiting in specific areas.

 

Things I’ve Learned

I’ve learned a few things along this fantastic journey.

 

Have fun

I wake up every day and ask myself what we need to achieve today.  I know the only way to achieve anything meaningful is to have fun with it.  So that’s what I do!

 

Relationships matter

We are a people business and therefore whilst transactions come and go (we like to close deals), what is left behind is the relationship which is the thing that matters.  If we have done a fantastic job for the client and they are happy with the outcome, the relationship will flourish and more work will follow.

 

Be fair

In order to create a successful business and provide exceptional client care, we need to be fair to everyone who makes the business work.  This means being fair with clients when it comes to providing them with a fixed fee option and delivering on time.  This means being fair with suppliers and ensuring they are paid fairly and on time.  This means being fair to our team and making sure they are paid above market rates and on time.  We can do this because of the unique way in which we are established.

 

Support one another

There has been an incredible support network of other SME’s and business owners who have supported us on our journey so far and we too have supported other businesses wherever we can.  This is so important and it is often forgotten.  In a way it connects right back to building long lasting relationships.

 

Plan ahead

It is great to be able to learn along the journey but the most important thing is to plan ahead.  I know where Pattersons Commercial Law is headed and we are taking one step at a time to get us there.  In this context, time doesn’t matter to me and we are not in a rush to get to the destination.  What really matters is building a fantastic business, doing a great job along the journey, building great relationships, supporting my network and clients, being fair and most of all, having fun every day.

 

The Takeaway?

Time to take some inspired action and keep moving ahead.  To borrow a saying from a well-known telecoms operator, the future’s bright…

 

Rik Pancholi

Director and Solicitor