http://www.patrickmckenna.com/blog

Firm Leadership

Rants, Raves, Rebuttals, Reflections, Revelations & Ruminations


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Post #834 – January 20, 2020

 

Don’t Miss Out on Reading One of My Latest eBooks

 

At different times during this past year, I released three new eBooks through the kind folks at Legal Business World – all of which remain available free for you to download.

 

This morning I received some Net Reader Metrics – the online reader counts together with stats from each visiting country.  A HUGE thank you to all of those who participated in reading and downloading copies of my work.

 

Change

When It Comes Time To Instigate Change  (54 Pages)

http://www.changenow.legalbusinesslibrary.com

18,446 Total Readers

Top countries: US, India, Turkey, United Kingdom, Germany

 

 

Leadership

The Art of Leadership Succession: How To Select Your Next Firm Leader  (264 Pages)

http://leadershipsuccession.legalbusinesslibrary.com

48,596 Total Readers

Top Countries: US, United Kingdom, Netherlands, Canada, India

 

 

Strategy

Strategy Innovation: Getting to The Future First  (242 Pages)

http://www.strategyinnovation.legalbusinesslibrary.com

43,079 Total Readers

Top Countries: US, United Kingdom, Australia, India, Netherlands





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 Award

I 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 


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