Welcome to your financial simulation!
On this page you will find everything you need to be able to enjoy the session on the 26th July and get the most from working with your colleagues as you will be placed in the position of running your own legal practice.
What you will need on the day:
- A workbook which you will need to save to your device. Please find the workbook here
- A calculator (always handy – the firms finances are in your hands!)
- Computer/tablet so that you can access the meeting on Zoom (a link to log on will be included in your calendar invitation)
The Simulation
You have boldly chosen to establish a new legal firm with two of your colleagues and create a three partner firm that will compete in the marketplace with other firms of a similar size. Over the course of four hours (with a few short breaks in the middle) you will need to consider carefully all the decisions that govern a typical firm (including Ashurts) such as:
- Recruitment of staff
- Contract pricing as you will be competing in a marketplace with other firms – also very keen to win and put you out of business
- Investment in Business Development and time to spend building your presence in the market place
- Gearing of your firm, bank loans and generating enough cash to ensure you are confident of managing your firm’s financial hygiene.
A series of rounds
Most of the time you will be working in breakout rooms with your colleagues making the decisions and learning how successful you have been in terms of the bidding process and your financial performance as you navigate a series of practical challenges. There will be a number of rounds that represent 3 months trading – a typical quarter, each with a slightly different focus designed to challenge your team to manage the firm effectively.
Cameras On!
Your team will need to see you and hear you if you are going to have a voice at the board meetings, so please do keep cameras on unless bandwidth makes this impossible.
We look forward to welcoming you on Wednesday and guiding you through what should be a fun experience that enables you to learn and master some of the most important financial lessons ensuring you are always a high performer in your career.
Prefer a written brief?
Have a read through of our simulation guide here. It will explain each round and some of the challenges you will face so you are well prepared.
Having Trouble?
We look forward to seeing you then and if you have any questions about the simulation contact: kate@thegrogroup.com or text her on 0044 7800 617206.
