What I have learned from 40 years of practice

I was recently asked by a graduate apprentice what I had learned about a career in the legal sector and what advice I could offer from my almost 40 years of experience. A good deal of luck, timing and fortune have informed my career choices, often shaped by factors beyond my control. But how you react to those changes is within scope. 

I count myself incredibly fortunate to have remained at one firm from trainee to partner. That may sound unambitious to some. I also acknowledge that there is absolutely nothing wrong with a career moving from firm to firm, and in some cases, such moves are essential. However, I have had an equally rewarding experience by not moving and have been lucky to help shape our firm.

Despite remaining at one firm, my career has been one of change, adapting to new circumstances and, to an extent, good fortune. I have also had the benefit of working alongside many talented and insightful people, both within the firm and outside it, including clients who helped or supported me along the way.

I have always said that I have worked within several different versions of a firm. During my career, the firm I joined evolved and changed significantly, in part a reflection of the legal sector over that time. 

The firm I joined as a trainee in the late 1980s was a general practice with several branch offices in and around Bristol. In the 1990s, that firm moved into one central location in Bristol. That version focused more on commercial law while remaining connected to its legacy and new clients. Then at the end of the 1990s, we merged with another similar-sized firm to become a combined organisation of 20 partners and 180 staff. I was one of the founding partners of that new firm. 

At the merger, we all bought into creating something new as a product of the best of both firms. We hoped the outcome of the combination would be greater than the sum of those parts. I recall one local competitor saying: ‘If they think by doing that [merger] it will make a difference, they are very mistaken.’ I owe that person a consultancy fee because it doubled our resolve to succeed. So, for nearly 20 years, I became managing partner and, along with everyone at TLT, we began to shape that new firm.

Over the past 25 years, TLT has grown to 1,800 people and a revenue rapidly approaching £200m without a significant merger. The firm operates as a national commercial legal practice with a focus on key sectors, based in seven locations in major cities across the UK, with a growing international reach. Others have done similar and been equally successful. Some firms that did not adapt or were unlucky with timing no longer exist. 

There are no guarantees, but you can improve the chance of success by adapting and recognising the external forces at play and by listening to clients. Over my near 40 years, there have been major corrections in the economy, political change and regulatory shift. Each of those moments presented opportunity as well as threat.

Being in a growing and progressive environment with sound values has been a critical factor. In my experience, you need to be in a firm with opportunities if you want to succeed. At the same time, being clear about the values an organisation lives by is vital. Retaining and enhancing those values as an organisation grows can be difficult. However hard it is, you must work at it. It remains part of what you are and why people will choose to work with you.

So, my advice is always consider: am I in the right environment to be as successful as I can be? Do the values of the organisation and the people in it align with my own? Will my influence count? Will I be able to take opportunities to help shape the firm I am part of? In short, am I in the right place?

If you remain open-minded and highly adaptable, you will increase your chances of being successful. Be authentic about your values, work with as many people from as diverse backgrounds as possible, and always learn to listen to those within and outside the firm.

Much has been written over the past 40 years about the future demise of legal practice as a business model. So far, history has proved that death to be mostly overstated. Yes, it is a heavily fragmented and mature market. Differentiation is difficult at all market points, but not impossible for those with creativity. 

The pace of change is accelerating. New ways of working and technology offer both success and disruption. 

That does not mean you cannot be successful. It does mean that you need to work out what you want to be famous for and have a clear plan of execution. Size does not necessarily limit your capacity for success as an organisation, but it may limit the number of areas in which you can be successful. The same is true of your own career. Be deliberate and curious, and spot those lucky moments because they sometimes come along when you least expect.

David Pester was managing partner of TLT from 2000-2020, and subsequently TLT’s head of strategic growth