http://www.patrickmckenna.com/blog

Firm Leadership

Rants, Raves, Rebuttals, Reflections, Revelations & Ruminations


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Post #822 - July 4, 2019

Strategy Innovation: Getting to The Future FIRST

Download your copy of my new 240-page eBook - Strategy Innovation: Getting To The Future First
https://lnkd.in/grsexeq

This book is intended to help you advance your innovative, entrepreneurial, and strategic thinking so your firm can WIN in today’s highly competitive environment.

FIRM STRATEGY
Schedule Time For Strategic Thinking
32 Strategic Innovation Questions
How Conventional Strategizing Can Be A Waste of Time
Conducting A Strategic Review Versus A Strategic Plan
Bring Your Strategy Process To Life
Efficiency Is NOT The Competitive Advantage
Beware of Being Afflicted By Strategy Viruses
On Having A Strategic Focus

BUSINESS UNIT STRATEGY
Developing Your Growth Strategy: Seeking Clear Blue Water
Understanding Industry Dynamics
The Tech-Driven Hybrid Practice
Importance of The Micro-Niche
Some Lucrative Micro-Niche Practices
Six Elements of Meaningful Differentiation
Perspectives on Strategizing

IMPLEMENTING YOUR PLAN
When Your Strategic Plan Needs To Get Implemented
Consider A Strategic Plan Premortem
Getting Committee Members To Follow-Through on Their Commitments
The Dangers of Competitive Plagiarism


Post # 821 – June 10, 2019

Would You Rather Lead Strategically?

Whether you are the designated leader of a practice group or industry team, your ability to lead that group, especially if they are a challenging collection of mavericks, makes you one of the most essential players in helping your firm achieve its long-term profitability and market success. 

Join me at the University of Chicago on August 22nd for a one-day, very intensive workshop to explore techniques and build skills to unleash your practice group’s highest potential.

We will explore how best to:
• create a strong cohesive group out of a collection of bright, intelligent, autonomous professionals?
• identify specifically what it is, that you can do, that is likely to actually affect the competitive success of the group you lead?
• find the means to develop a strategic direction and have your colleagues actually want to work together?
• lead effective meetings that result in concrete action plans being formulated and colleagues willing to take responsibility for actually doing something?

Register to attend before July 3rd, 2019 to receive your 15% early-bird discount:
https://lnkd.in/djsjseF



Post # 820 – June 5, 2019

Legal Micro-Niche: AgTech

There are numerous law firms that hold themselves out as having agribusiness practices but only a few are exploring being the go-to firms in the agriculture technology (AgTech) micro-niche.  Total investment in 2017 in this micro-niche was reported to have exceeded $1.5 billion.  The “digital transformation” of agriculture is necessary if we want to continue filling our baskets with healthy, affordable food.   Imagine: driverless tractors tilling acres of crops, produce growing in massive climate-controlled warehouses, and seeds genetically altered to require less water are among the high-tech innovations changing, or about to change, agriculture.  Meanwhile, America’s first autonomous robot farm officially launched last October.

This is another in a series of articles I'm doing on what I call micro-niches - slivers of lucrative opportunity for attorneys and practice groups that care to invest non-billable time in developing themselves as the "go-to" experts.

http://www.legalexecutiveinstitute.com/micro-niche-agtech-practice/



Post #819 – May 29, 2019

How Do You Select Your Next Firm Leader?


Get your copy of my free 260-page eBook:
https://lnkd.in/eZbyNbW

It is doubtful that any firm contemplates the replacement of its firm leader with enthusiasm, even when the departure is expected.  Most Executive Committees and Boards are often unprepared for the challenge and time consuming nature of planning and executing the managing partner selection process.  Which is probably not at all surprising given that they only have to do it about once every decade.  Nevertheless, there are huge consequences.  Every partner is watching closely and the process is intensely personal, political and demanding.

So, how do you orchestrate this selection process?  Will certain approaches make the task easier and more efficient?  

The necessity for determining a succession process that will work for your firm is critical.  What I have attempted to do in this eBook is outline a comprehensive process.  While every situation may be somewhat unique, best practices would suggest that there are five very distinct phases and each phase has a number of steps.

Get your copy of my free 260-page eBook, The Art of Leadership Succession: https://lnkd.in/eZbyNbW



Post # 818 – May 24, 2019

Legal Micro-Niche: Additive Manufacturing / 3D Printing

This is another in a series of articles I'm doing on what I call micro-niches - slivers of lucrative opportunity for attorneys and practice groups that care to invest non-billable time in developing themselves as the "go-to" experts.

When one hears the term 3D printing, it is just natural to think of it as a way to produce a small plastic desk accessory or toy you might pick up in a gift shop.  But 3D printing is instead, part of a broader range of revolutionary technologies known as additive manufacturing (AM).  AM is now being adapted to a stunning array of different materials that will dramatically disrupt the future of manufacturing and at least 25 other different industries that I’ve been monitoring.  So to simply say that you aspire to be your client’s “trusted advisor” rings hollow, should they ask you what you know about additive manufacturing and all you can muster is a shrug of your shoulders.  Alternatively for those who care to explore this as a micro-niche to specialize in, the opportunities are beyond description.

Read Online http://www.lbw2019us5.legalbusinesslibrary.com/ 
or in PDF: https://docs.wixstatic.com/ugd/b30d31_cf3579d22cc14122a0678a1d7855aa2d.pdf …



Post #817 – May 11, 2019

When Needing To Engage in Critical Thinking

Here is a one-page cheat-sheet that is a good tool when we find ourselves facing a rather novel situation.





Post #816 – May 2, 2019

Lucrative Micro-Niche Practice: Climate Change  (Part 2)

How can lawyers and law firms stake a claim in the potentially lucrative practice surrounding climate change?  Part 2 continues to discuss ways firms can find new business in these Micro-Niche areas

As climate disruption continues, insightful attorneys might also expect to see (and serve) a huge groundswell of startups from providers of AI-powered weather prediction data to companies focusing their efforts on capturing, storing and converting carbon emissions into salable products.

Read Part 2 of the article here: http://www.legalexecutiveinstitute.com/micro-niche-climate-change-part-2/    



Post #815 – April 18, 2019

Lucrative Micro-Niche Practice: Climate Change (Part 1)

This is another in a series of short articles that I am doing on what I call micro-niches - slivers of potentially lucrative opportunity for those attorneys and practice groups that care to invest the non-billable time in building the necessary skills to develop themselves as the "go-to" experts

Today, at least 14 US cities, five counties, one state, and a group of children are suing some of the largest Oil and Gas companies for selling products that contribute to global warming while misleading the public (reminiscent of tobacco litigation) about the harm of their products.  It is estimated that more than 1,400 climate change litigation cases have been filed to date around the world, covering 25 countries and a variety of issues, claimants, and defendants.  This current wave of litigation is raising new legal questions in the context of climate change for the first time.

Read Part 1 of the article here: http://www.legalexecutiveinstitute.com/micro-niche-climate-change-part-1    



Post #814 – April 1, 2019

Lucrative Micro-Niche Practice: Esports

This is another in a series of short articles that I am doing on what I call micro-niches - slivers of potentially lucrative opportunity for those attorneys and practice groups that care to invest the non-billable time in building the necessary skills to develop themselves as the "go-to" experts

For the uninformed, esports law is an amalgamation of multiple disciplines – labor and employment, contracts, endorsements, sponsorships, gaming, intellectual property and all the things that come with those arrangements.  Potential clients are likely to include individual gamers, but also the game publishers, organizations building potential leagues, sports competition venues, media, entertainment, and advertising companies, and let’s not forget potential investors and private equities.  The esports industry is expected to reach $1.1 billion this year, based on projections; with a growth rate of 22.3 percent year over year.

http://www.legalexecutiveinstitute.com/micro-niche-esports-practice



Post #813 – March 20, 2019

When It Comes Time To Instigate Change

Every few years a new theme emerges in law firm management.   There was a time and perhaps it still exists where we witnessed resistant attorneys being forced to take the marketing of professional services seriously.   We have all since observed initiatives like total quality management, branding programs, alternate billing methods, and project management assume center stage.   Meanwhile, many of our skeptical and often times, senior partners have chosen to sit on the sidelines.

So why is it that these professionals are so skeptical? 

From understanding the “Challenges of Implementing Your Initiatives” and “Helping Your Partners See The Need to Change” to “Helping Your Partners Take Action” and “Nurturing Your Partners To Follow-Though,” this 50-page eBook will provide advice and counsel on how to convert your best intentions into best practices.

Download: https://docs.wixstatic.com/ugd/b30d31_2a6954e0292d4db4bc7ccee8eae7952b.pdf

Online Reader: http://www.changenow.legalbusinesslibrary.com


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