http://www.patrickmckenna.com/blog
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Post #
833 – January 17, 2020
Make
Your 2020 Vision 20/20
According to new survey research released this week,
the number one reason why partners leave their firms is not dissatisfaction
with compensation, but rather a lack of confidence in firm management and
strategy. (http://www.abajournal.com/news/article/lack-of-confidence-in-law-firm-leadership-is-no-1-reason-why-partners-leave-survey)
For anyone in a leadership position and starting a new
decade with today’s pace of change, this research should suggest how important
it is to ensure that your 2020 vision is crystal clear. Therefore, you need to know exactly what you
want to accomplish over the next twelve months; you need to communicate your
goals to your colleagues; and you need to set out for everyone what it will
look like when it is achieved.
What follows are some possible areas for setting some
2020 Goals. Why not start by assessing
how well you are currently performing with each, by using the following self-assessed
grading:
A = We are a dominant performer in this area B = We are certainly ahead of most competitive firms
at this C = We are probably ‘average’ when compared with our
competitors D = This is an area that needs remedial attention F = If we were honest, this is near crisis for us
POSSIBLE MENU OF 2020 STRATEGIC GOALS: 1. Creating
innovative solutions to address client problems 2. Finding
new, efficient ways to lower costs in performing our professional tasks 3. Staffing
projects in ways that render extra value and enhanced benefit 4. Securing
more challenging and complex work from our existing clients 5. Transforming
individual client assignments into long-term relationships 6. Being
better at systematic listening and getting closer to our clients 7. Monitoring
market trends to track emerging client needs 8. Generating
increased awareness of our capabilities across our market footprint 9. Launching
entirely new legal service offerings 10. Developing
a recognized presence in serving new industry niches 11. Attracting
high-quality lateral talent 12. Growing
new partners from junior ranks 13. Collaborating
and sharing knowledge among partners 14. Helping
partners to grow and develop marketable new skills and capabilities 15. Developing
future leaders for our practices
Start with identify only three (3) areas in which you
want to formulate a specific action plan and diligently focus your
efforts. In this year of 2020, let’s
start the decade with a clear 20/20 vision and focus on achieving some tangible
results.
Need help with seeing 20/20? Let’s talk. Shoot me an email, and I’ll be in touch.
Post
#832 – December 27, 2019
2019 Year
End Review
I’m
often asked about my consulting practice, what kinds of assignments I get
called in on, for what sized firms; what I’m currently researching and writing
about, and just generally how I spend my professional time. As always, at
this time of the year, I looked back over my various activities. With
some of these items (like clients served) activity is not a sufficient measure;
results and the client’s satisfaction are really what counts (and to that end,
you can find over 100 client testimonials and endorsements throughout this web
site). But for purposes of looking at where one’s time is invested, here
is what my 2019 looked like:
CLIENTS
/ FIRMS SERVED
•
Geographic Locations: 78%
U.S. Based 22%
International (Europe)
•
Nature of Assignments: 32%
developing / implementing strategic plans 57%
governance and leadership counsel 11%
client relations and marketing advice
•
Firm Size Range: 33%
firms of over 500 attorneys 22%
firms of 301 to 500 attorneys 34%
firms of 100 to 300 attorneys 11%
non-legal firms
•
Special Advisor To The Board of Directors (2015-2019) Attended
and participated in monthly board meetings serving Jackson Lewis P.C. – with
over 900 attorneys in 60 locations nationwide serving clients across a wide
range of industries and recognized as both an AmLaw and Global 100 law firm.
SPEAKING
ENGAGEMENTS
•
Participation in Conference and Workshops -
Co-Chairman – Second Annual Law Firm Innovation Summit (Boston
in November) -
Facilitator – Practice Group Leaders Workshop (Chicago
in August)
OTHER PROFESSIONAL ACTIVITIES
• Advisory Board Member – Legal Business World
Broadcasting Legal
Business World is an international company operating a global platform that
produces and shares publications (articles, eMagazines and eBooks) read in over
32 countries; TV and Radio covering the business of law and development of the
legal profession. Their Legal Knowledge Portal offers over 900 articles,
contributed by over 400 authors, categorized under 40 topics, and appealing to
190K readers a month. Every year LBW chooses Thought Leaders – professionals
who distinguish themselves through: opinionated publications, being recognized
as an authority in a specialized field and/or whose expertise is sought after
and often rewarded.
• Advisory Board Member – Intraspexion Inc. Intraspexion
is the world’s first “Deep Learning” service able to provide clients with an
early warning of potential litigation disasters. The holder of 8 Deep Learning
patents, the National Law Journal named Intraspexion® in the inaugural list of
Legal AI Leaders (February 2018). The Artificial Lawyer listed Intraspexion in
the inaugural edition of the AL 100 Legal Tech Directory (August 2018). And
Microsoft accepted Intraspexion into Microsoft for Startups (September 2018)
• BrainTrust Network Member – Quantumrun Forecasting Quantumrun
Forecasting is a research and consulting agency using long-range foresight to
help organizations thrive from future trends and stay ahead of disruptive
market shifts. The Forecaster BrainTrust is comprised of
subject matter experts from a range of disciplines and industries worldwide.
These experts have been individually invited to collaborate on projects to
provide multidisciplinary insights and clients use our services like an
outsourced research, strategy and content partner to provide them with new
ideas and industry intelligence
THOUGHT
LEADERSHIP
In 1675, Isaac Newton said, “If I have
seen further it is by standing on the shoulders of giants.” Every author stands on the shoulders of
giants and I thank all of the giants who boosted my vision.
•
Authored Three (3) New Books: - Strategy Innovation:
Getting To The Future FIRST (240-page eBook – Legal Business World Publishing - The Art of Leadership
Succession (260-page eBook) – Legal
Business World Publishing - When It Comes Time To
Instigate Change (50-page eBook) – Legal Business World Publishing
• Contributed
Chapters to Two (2) New Books from international
publishing houses: - The Lawyer's Guide to the Future of Practice
Management (Ark Publishing, 2019) - Dispute Resolution and Lawyers, A
Contemporary Approach (Interactive CaseBook Series) 6th Edition (West
Academic Publishing, 2019)
•
Authored or Contributed to 32 Articles
in 9 different international Publications including: -
CBA PracticeLink for Law Firm Leaders -
JD Supra -
Intapp.com Blog Post -
fivehundred / Legal 500 Magazine -
Legal Business World Magazine -
Legal Executive Institute -
National Magazine (CBA) -
Of Counsel – Legal Practice and Management Report -
The Legal Intelligencer
•
Two new issues (Spring & Fall) of my INTERNATIONAL REVIEW 24-page glossy
magazine were produced and mailed to 1600 firm leaders.
OTHER
ACHIEVEMENTS
•
Acknowledged: Top 50 Global Thought
Leaders and Influencers on Innovation – Thinkers360
“Our listing includes authors, influencers and speakers who have
curated and shared their thought leadership content – including articles,
blogs, books, keynotes, media interviews, panels, podcasts, social media,
speaking events, videos, webinars and whitepapers.”
• Nominee: 2019 Canadian
CEO Trusted Advisor AwardI have been
nominated for national recognition for my work – the Canadian CEO Trusted
Advisor Award. It was very unexpected
and I am grateful to those clients who made it possible. I am always telling professionals and firms
to celebrate their milestones, so this is me, practicing what I preach. Whether I do or don’t win is
unimportant. What I do find immensely
gratifying is having clients say that what I’ve been doing over the years, has
been so valuable to them. A most sincere
Thank You for your most gracious vote of confidence.
• Qualified: CEO Trusted Adviser – Chief Executive Group
(U.S.)
Chief
Executive Group now helps CEOs find the right expert adviser. The right outside adviser can help you
improve processes, develop new products or provide access to new markets. Unfortunately, the mid-market has been
dramatically underserved by the advisory community. Until now.
CEO Trusted Advisers, newly launched by Chief Executive Group, gives you
speedy access to peer-recommended experts in executive coaching, succession
planning, strategy, talent, operations, technology, finance and M&A and
more.
To
all of my valued clients, colleagues and friends, I want to say thank you for
allowing me to spend time with you; for your confidence, your commitment and
your fellowship. I wish you and your
families the very best in 2020 and the coming decade.
Post # 831 –
November 29, 2019 Acknowledged Amongst Top 50 Global Thought Leaders I’m honored to
be included amongst the Top 50 Global Thought Leaders and Influencers on
Innovation.
According to
Thinkers360 who compiled the listing: “Our
listing includes authors, influencers and speakers who are members of
Thinkers360 and who have curated and shared their thought leadership content –
including articles, blogs, books, keynotes, media interviews, panels, podcasts,
social media, speaking events, videos, webinars and whitepapers – via our
platform.
Our
differentiation from the various influencer leaderboards on social media, is
that we take a holistic view of thought leaders and experts, beyond their
social media activity, and look across all the hats they may wear – such as
academic, author, consultant, entrepreneur, influencer and speaker – and all
the types of thought leadership content they produce.”
https://www.thinkers360.com/top-50-global-thought-leaders-and-influencers-on-innovation-november-2019/
Post # 830 –
November 27, 2019
Want
The Inside Track on What Makes the World’s Elite Law Firms Successful?
fivehundred, the new magazine
from The Legal 500, combines the knowledge of experienced editors and
researchers with expert contributors to give you an insight into the global
themes affecting the legal profession.
I am pleased to have the authored the cover article, "The Art
of Leadership" for this issue.
You can download your copy of
the entire 56-page issue here:
https://indd.adobe.com/view/fe2752c1-6b51-44bd-a9e3-3d99827913b4
Post # 829 –
November 22, 2019
Download
Your New Issue of Legal Business World
I’ve recently returned from co-chairing a two-day Law
Firm Innovation Summit with over 125 attendees.
For some prescriptive counsel
on this subject, read my 18-page guide entitled, “How As A Firm Leader You Can
Harness Innovation”
PDF
version: https://lnkd.in/edHUXEX
Post # 828 –
November 11, 2019
Legal Micro-Niche: Anti-Aging & Regenerative Medicine
Make no mistake,
it is NOT efficiency that produces new wealth . . . but insight – insight into opportunities in pockets of emerging
demand. An attorney or group that gets
an early start in accumulating knowledge and experience serving some
micro-niche and then continues to learn faster than rivals can build an almost
insurmountable lead – irrespective of size.
A Chinese
scientist who announced that the first set of CRISPR-engineered female twins
had been delivered; stem cells that can now grow eye retinas; a collagen
bioprinter that should soon provide 3D printed lungs; this particular
micor-niche, the global longevity industry is primed to reach $17 trillion this
year and on track to crack $27 trillion within the next five years. There is even a fascinating new book that
just came out, by a Harvard Genetics researcher and professor called “LifeSpan”
which has been getting a lot of attention, largely because it is about not just
slowing or stopping – but actually reversing the aging processes.
We are edging closer to
a dramatically extended healthspan—where 100 is the new 60. So, what will you
create, where will you explore, and how will you spend your time if you are
able to add an additional 40 healthy years to your life?
This is the eleventh in
a series of articles I have been 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-anti-aging-regenerative-medicine/
Post #827 – October
14, 2019
The Lawyer’s Guide to the Future of Practice Management
I am pleased
to have contributed a chapter to this new book intended to provide guidance,
and market knowledge on what today’s legal marketplace might look like
tomorrow.
The Lawyer’s Guide to the Future of Practice Management
provides law firm leaders with expert opinion on the very latest guidance
and market knowledge on what today’s legal marketplace might look like
tomorrow, organized into four crucial areas of practice management –
technology, people and culture, finance and strategy – before taking a
horizon-scan of the future, and what law firms need to be aware of in the
coming months and years.
https://www.ark-group.com/product/lawyer’s-guide-future-practice-management#.XaSwxK3MxE4
For my part,
this represents the 37th book that I have contributed to over the course of my
career. For a complete list of all of
the various books that I have authored chapters for, you need only look here:
http://www.patrickmckenna.com/PatrickJMcKennaBrainmatterCreations10.aspx?ID=49&NavID=127
Post
#826 – September 21, 2019
NEW Issue of
Legal Business World is Now Available
It
will provide you with 19 articles and 108 pages of authentic and valuable
insights into the changing face of law, the opportunities and challenges that
technology represents, and the possibilities for meaningful innovation.
I’m pleased to have contributed a piece
entitled “Lessons For New Leaders On Where To Invest Their Time.”
Read online: https://lnkd.in/ed8vVHT or Download PDF: https://lnkd.in/eRkChnU
Post
#825 – September 18, 2019
Legal
Micro-Niche: Synthetic Biology
This is another in a series of
articles I have been doing, this one with Jennifer Burnett, 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.
In the newest issue of Corporate
Board Member magazine (Fourth Quarter 2019), Nicholas Negroponte, technology
visionary and co-founder of the legendary MIT Media Lab, talks in a feature
interview about some of the tech trends that he sees “around the corner” and
Negroponte names Synthetic Biology as the one that will “change our basic understanding
of nature.” With input from Jennifer, who practices in the area, we have
provided a brief glimpse into what is transpiring for lawyers in this
micro-niche:
http://www.legalexecutiveinstitute.com/micro-niche-synthetic-biology
Post # 824 –
August 13, 2019
Our Second Annual Law Firm Innovation Summit
Join me at the
Harvard Club in Boston on November 13 & 14 where I will be co-chairing the
2nd annual Law Firm Innovation Summit
with over 30 speakers from a broad range of Law Firms, Legal Service Providers, Academic
Institutions, Corporate Counsel, and Subject Matter Experts.
https://www.lawfirminnovationsummit.com
We will address critical
innovation topics ranging from Why Innovation Should Start with Process
and not Technology to Client Innovation Needs, Innovative Revenue-Building
Strategies to Innovation Governance and Prioritization, Barriers to Innovation
through to Design Thinking and Design Action, and much more…
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