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Post #808 – January 15, 2019
Strategic Challenges That New Firm Leaders Face
The recent announcement from Baker
McKenzie that their global chairman would be taking a medical leave due to
severe exhaustion took many by surprise. But Paul Rawlinson is far from
alone, among firm leaders that I have worked with over the years, in having to
contend with a position that has grown ever more demanding with challenges that
are usually not fully recognized when first taking on the role. Most
lawyers have NO idea what the huge scope of this job entails (ever seen a job
description?), how much exhausting travel can be involved, how much time it
really requires, how lonely it can be at the top, and how ill prepared many new
firm leaders are when they assume office!
Post #807 – January 2, 2019
Conducting A Strategic Review Versus A
I believe that instigating a strategic
review is very different from initiating a strategic plan, but the two often
get confused. I see too many firms thinking that they are developing a
strategic plan when they are really investing their time in conducting a
How is a strategic plan
Post #806 – December 30, 2018
Happy New Year
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 2019.
Post #805 – December 10, 2018
Life As A Firm Leader
Here are some interesting stats obtained from my
working with and researching the activities and feelings of firm leaders:
• During the average day,
53% - of time is spent in meetings, usually lasting
from 1 to 2 hours
33% - of time is spent with direct reports
61% - of this is all in face-to-face communications
23% - engaging with my internal colleagues
20% - managing my stress levels
• 41% of Firm Leaders would admit to feeling some
stress every day, with another 33% feeling stress a couple of times a week.
• The key areas where Firm Leaders believe their
role is more difficult that they might have expected include:
50% - driving change
48% - developing my senior team
40% - balancing long and short-term priorities
How does this fit with your experience?
Post #804 – November 20, 2018
Another Great Issue of Legal Business World Magazine
The latest issue include the following articles:
• CodeX and the Future of Legal Tech, Riyanka Roy Choudhury
• Strategic Challenges That New Firm Leaders Face, Patrick J.
• Identity for All | A Crisis in Demand of Input from the Legal
Industry, Aileen Schultz
Are law schools adapting to the paradigmatic transformation of
the legal professions, and how to measure it? Javier de Cendra
• Growth in the Legal sector, Katie McLean
• The Hummingbird Lawyer. Managing time efficiently can generate
an additional hour of availability each day, Richard G. Stock
• The Legal Education Gap, Lucy Endel Bassli
• Legal Tech and Innovation in South Africa, Themba Mahleka
• "A Millennial's Perspective on how law firms can retain
Millennials" or talent …? Mary Bonsor
• A ClariLegal interview with Russ Dempsey, Associate General
Counsel at AIG, Cash Butler/James Johnson
• Your Personal Legal Brand: Why You Need One and How to Begin
Creating, Jaimie B. Field, Esq.
• Taking a leadership role on data security, risk and
governance, Shauna Maguire/Siska Lund
Download your PDF copy: https://docs.wixstatic.com/ugd/b30d31_e90efc88cd6d4441a1205d17ff1debb2.pdf
Post #803 – November 10, 2018
Review Magazine: Fall-Winter 2018
Our Fall-Winter issue
begins with Inside the Corridors
of Firm Leadership. This features the results of the fifth in a
series of surveys I’ve conducted with my highly respected colleague David
A Lesson From The Accountants is a
collaboartion with an old friend, Neil Gower, and addresses how the major
accounting firms exercise good governance practices, perhaps worth emulating.
Rise of the Micro-Niche provides a further look into how the
explosion of data today is forcing professionals to be far more specialized if
they hope to develop a “go-to” personal brand.
What Firms Need To Do To Prepare
For The Future is an excerpt from the mid-year discussions of LIFT, our
international think-tank group collaboration.
You Need to Replace a Practice Leader offers some straightforward guidance
on how to handle the difficult situation when you have to remove a colleague
who is just not doing the job.
Visit the following link to download your copy of my Fall-Winter 2018 practice management magazine: http://www.patrickmckenna.com/pdfs/MIR%20Winter%202018.pdf
Post #802 – November 10, 2018
Legal Leadership: A Handbook for Future
I’m pleased to have contributed a chapter to Legal Leadership, a NEW book
providing relevant guidance from those on the frontline of law firm
leadership and management, to serve as the catalyst for change and
the foundation on which a strong leadership practice can be built.
Drawing on their expertise, the authors – ranging from
behavioral psychologists to senior management figures and professional
coaches – present a wide range of strategies to cultivate as part of a
leader’s personal and professional development.
Whether you are already a member of your firm’s senior management
or in a junior position with big aspirations, this text should provide
some tools that you can put to practical use.
Post # 800 – November 1, 2018
Every New Innovation Can Look Like a Failure in the Middle
"middle," you can overspend resources; both time and money, because
forecasts are always overly optimistic. You should expect to have the
unexpected pop up that no one knew would be there. After all, no one has
been down this path before.
And the middle is when
the critics attack. Opponents start to notice and will offer favorable
comments about the project . . . only when it looks like it might be a winner.
Post # 799 – October 20, 2018
Advent of The Legal Practice’s Micro Niches (Part 2)
Today, firms are facing yet another
structural and marketing challenge, that which I have come to call, “Tech-Driven Hybrids.” These are
practices that are not simply conventional in that they require a level of
expertise that goes beyond any one vertical (e.g., may require
regulatory plus tax, plus IP), and they are practices that extend beyond
impacting just one industry in that their effect will likely be felt in a good
number of different industries.
the micro niches in your legal practice? And how can you use them to find new
clients and better service your existing ones?
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