big interview

Acumen: a law firm with a twist (or two)

Just a stone’s throw from Hove seafront lies a law firm with a difference. CEO Penina Shepherd explains how Acumen Business Law and Acumen People Solicitors broke the mould.

Back in 2007, Penina decided it was time for change in the legal profession – change that it was reluctant to embrace.

Having been a high-flier in several top 100 law films, she was genuinely frustrated with the prevailing ‘fuddy duddy’ outlook. “The world of business was modern and agile,” she explains, “but the legal profession was lagging behind.

“I wanted to offer a different kind of service, but it was like pushing water up a hill. The feedback was, well, this is how things have always been done.”

So, while on maternity leave with her third child, Penina decided to strike out on her own. “I was determined to shake off the aloof image associated with the industry, and offer an unpretentious, approachable service – something that was truly unique.” Even setting up Acumen was unconventional. “Generally, solicitors setting up a new law firm will bring clients with them. But when I opened my office (15 years ago this September), I had a desk, a chair, a computer… but no clients! “

This soon changed. Despite facing a sudden double whammy of serious illness and global recession, Acumen Business Law quickly found its feet with its friendly, down-to-earth approach. “At first I thought my business couldn’t survive the initial obstacles, but then I just picked myself up and carried on,” Penina reflects. “To spread the message about what set us apart I networked nonstop and wrote blog after blog about legal issues long before it was trendy.

“The very first thing I did once I set the firm up, was replace the traditional client hourly rate with fixed fees for all noncontentious matters. Fifteen years ago, this was revolutionary. I felt that had to change because, under the hourly rate charging system, clients felt unable to even indulge in pleasantries as the clock was ticking and it cost them money!

“I didn’t want to base my customer relationships on that perspective, so now the initial meeting is free of charge, we scope the work and set a fixed fee for all non-contentious matters.”

When Penina took on her first employee (who is still with her today), another legal trait went out of the window – the office hierarchy. Acumen’s internal workings had to be a breath of fresh air too, so the official pecking order was scrapped.

It’s this kind of dynamism that earned Acumen a listing in the FT’s Top 50 Groundbreaking & Innovative Lawyers in the UK and Europe, a UK Rising Star vote by The Observer, and many local business accolades. (As if that’s not enough, Penina is also bestselling author of The Freedom Revolution … and a headline speaker to boot!) “I wanted to make work fun and professional, and have everyone run the business together, right down to choosing office equipment,” Penina adds. “That eliminates the ‘water cooler terrorists’, the people who complain behind your back and cause ‘them’ and ‘us’ divisions. If everyone has a say, this doesn’t happen!”

Indeed, Acumen Business Law’s expansion into legal services for private individuals -- Acumen People Solicitors – came about through an office chat. “Normally this kind of decision is made by the partners and announced to staff, but it was a collective agreement to branch out and it’s been a huge success.”

Today, Acumen Business Law and Acumen People operate as two separate offerings with different websites and marketing, but with the same ethos, behaviours and values that make the firm so successful overall.

They also share unique branding. “We are obsessed with zebras,” Penina says. “They feature in our marketing collateral, in a

Penina Shepherd

CEO

The Acumen Team

massive boardroom mural, there’s even a life-sized model in the lobby.

“The zebra stands out in the wild because it’s black and white. It’s a head turner among all the brown and grey on the savannah. We like to think Acumen stands out in the legal world in the same way. It also works because people often think the law is black and white but, in practice, it is more than 50 shades of grey...!”

Penina reflects on how she thought it was ‘game over’ when lockdown hit. But once the shock subsided and the team regrouped, they realised the local business community needed them more than ever. “We provided free Covid related legal helpline advice and regular updates, plus any Covid related legal work was done at cost. The attitude was ‘Let’s get through this together’.

“I freely admit I was in the depths of despair to begin with, but it ended up being our second most profitable year ever – totally unexpected, but so rewarding.”

Community spirit is very important to Penina, which is why she launched the Acumen Business Convention back in 2009. This colourful event, featuring keynote speakers, networking, entertainment - and zebras, of course - returns to the Grand Hotel Brighton on 8 June 2022.

“Our last convention in November was a sellout,” Penina concludes. “This year we are excited to have Heather Mills as our keynote speaker! As always there will be lunch, drinks, live entertainment and an inspiring line of speakers.” Super Early Bird tickets are sold out, but there are still some early bird tickets left at acumenbusinessconvention.co.uk.

More details about Acumen’s services can be found at Acumen Business Law and Acumen People.

“The zebra stands out in the wild because it’s black and white. It’s a head turner among all the brown and grey on the savannah. We like to think Acumen stands out in the legal world in the same way. It also works because people often think the law is black and white but, in practice, it is more than 50 shades of grey...!”