Finance Simulation for Partners
Background
VWV have provided legal advice to the public sector for over 25 years. They have experts specialising in property, planning, governance, standards, prudential borrowing and investment powers, employment law, TUPE, pensions and tax advice. They also have a dedicated public procurement and subsidy control team.
From their offices in London, Watford, Bristol and Birmingham, they have been providing advice and support to clients for many hundreds of years, and are proud of their long standing relationships.
Training Need
The specific need for this project, was to create a training intervention for new partners in the area of understanding finance. They needed to increase their awareness and understanding of how the firms finances work and the responsibilities of new partners.
Rather than just do some sort of presentation they wanted to bring finance to life with a workshop style event.
Activity
We created a workshop based on our finance board game. Partners worked in teams to create and manage the finances of their firm. We tailored the content to precisely match the needs of the firm and their internal financial tools.
We worked with the finance team in designing the session and in delivering it on the day.
The agenda
1. Objectives for the session.
2. Key financials in running a law firm.
3. Introduction to the simulation and the market.
4. Your law firm name, objectives & strategy.
5. Q1 decisions – results & Quiz
6. Q2 decisions – results & Quiz
7. Q3 decisions – results & Quiz
8. Q4 decisions – results & Quiz.
9. End of year summary
10. Summary & personal actions.
Outcomes
Each of the new partners left with detailed actions for them to work on straight away. These were specific to their practice areas and their teams.
Participant Feedback
The partner feedback was outstanding.
“The training was really useful, really brought to life finance in a law firm so thank you very much!”
“Many thanks Martin. Really enjoyed the session.”
“Thank you so much for a great session.”
Client Comment
Martin produced and provided an absolutely excellent session for our new Partner intake a few weeks ago. It focused on the financial fundamentals that new Partners would need to know as they move into the Partner role. The half day session received excellent feedback from all attendees – 9 in total. They really liked Martin’s style and found him really knowledgeable and engaging. They found the session itself extremely useful. They said the content was interesting, relevant, informative and delivery was well paced. Martin himself was really good to deal with. We wanted a number of elements of the session bespoke for our particular needs and he was more than happy to do so.
Possibly one of the best compliments you can get as a training provider is commitment to commission the workshop again. This they have indicated they wish to do for next year.
