The Law Firm Relevancy Checklist for 2020

Transcription

1 The Law Firm Relevancy Checklist for 2020 WSG Annual Meeting September 21, 2018 Founder, Edge International Gerry s Blog: Amazing Firms Amazing Practices Edge Newsletter: Edge International Communiqué Edge website: New Edition: The Successful Lawyer (Kindle/paperback) Skype: gerryriskin Leadership and Management Structure Strategy Client Relations Education Technology Succession The Future What I recommend for your firm!1

2 The Honourable Pam Webster, Managing Partner, Leader of the Opposition in the Anguilla house of Assembly!2

3 !3 Judith Whitehead Managing Partner

4 The Law Firm Relevancy Checklist for 2020!4 Leadership and Management Structure Strategy Client Relations Education Technology Succession The Future What I recommend for your firm

5 !5 The Lawyer s Unique Traditional Mindset

6 !6 Lawyers Ferociously Independent Critical and Analytical Tense Perfectionists 100% (minimum) Never finished Never prepared (enough) Business People Compliant with Vision Creative Manage Projects OK to make Mistakes 66% (awesome) Creating Next Version Ready Enough to Act The Lawyer s Unique Traditional Mindset

7 !7 READY READY AIM FIRE FIRE AIM The Lawyer s Unique Traditional Mindset

8 !8 The Lawyer s Unique Traditional Mindset

9 !9 Estée Lauder I am not famous for my ideas but rather for what I have done The Lawyer s Unique Traditional Mindset

10 !10 Winners ACTION Losers The Lawyer s Unique Traditional Mindset

11 The Law Firm Relevancy Checklist for 2020!11 Leadership and Management Structure Strategy Client Relations Education Technology Succession The Future What I recommend for your firm

12 Leadership!12 Leadership and Management

13 Management!13 Leadership and Management

14 Lawyers Only Myth!14 Law Firm of the Year award at the 2017 Australasian Law Awards Australia s Fastest Growing Law Firm Leadership and Management

15 The Law Firm Relevancy Checklist for 2020!15 Leadership and Management Structure Strategy Client Relations Education Technology Succession The Future What I recommend for your firm

16 !16 Structure

17 !17 Structure

18 !18 Structure

19 !19 Structure

20 !20 BRISBANE DUBAI grown by 700% in 5 years HONG KONG LONDON MELBOURNE MUNICH NEW YORK PERTH SINGAPORE SYDNEY Structure

21 !21 Partnership Structure Structure

22 !22 Partnership Structure Creates Weak Link Problems Structure

23 EY, Proving Itself to Be a Leading Disruptor of Legal Services,!23 Acquires and Expands Riverview Law Globally Following the acquisition of Riverview Law by EY, a new entity named EY Riverview will expand the accountancy firm s legal-services reach into the global marketplace. Riverview Law s growth could lead to an increase in staff from its current 120 to as many as 3,000, to be located at offices around the world. with in-house teams under scrutiny to drive down cost/improve efficiency, providers like EY Riverview Law will be in their thinking. job that requires volume contract remediation to be undertaken caused by reg change or events such as Brexit. Law firms would essentially have to outsource that work to a third party as they lack the tech to do it in-house. With our acquisition of Riverview Law, we can do it all under one umbrella. why use another external vendor when you can do it all with us the most important element is the strength of the EY brand and the associated level of comfort to global organisations Would you feel comfortable as a GC employing what are largely start up legal tech providers, or would you feel more comfortable recommending one of the Big 4 to work on your project? Structure

24 The Law Firm Relevancy Checklist for 2020!24 Leadership and Management Structure Strategy Client Relations Education Technology Succession The Future What I recommend for your firm

25 !25 Overthinking it! Strategy

26 !26 Inward thinking Strategy

27 !27 Afraid to look at the right data Strategy

28 !28 A POWERFUL QUESTION What would have to be true for that to be the right decision? Strategy

29 The telephone test!29 Encourage members of our group to act like owners Recruit more intentionally Enhance our group s profile on our website Love our clients Strategy

30 !30 Strategy

31 The Law Firm Relevancy Checklist for 2020!31 Leadership and Management Structure Strategy Client Relations Education Technology Succession The Future What I recommend for your firm

32 !32 Knowledge Client Relations

33 Skill!33 1.Show Me 2.Break it into steps 3.Practice 4.Feedback Client Relations

34 !34 Listening Client Relations

35 !35 Beyond Listening Body language: a form of nonverbal communication, which consists of body posture, gestures, facial expressions, and eye movements. Humans send and interpret such signals subconsciously. Client Relations

36 !36 Beyond Listening Empathy: the capacity to, through consciousness rather than physically, share the sadness or happiness of another sentient being. Client Relations

37 !37 Handling Telephone Inquiries Client Relations

38 !38 Courting Prospective Clients Client Relations

39 !39 Meeting Prospective Clients Client Relations

40 !40 Requesting Retainer Fees Client Relations

41 !41 Expectations Client Relations

42 !42 Delegating Client Work Client Relations

43 !43 Asking for referrals Client Relations

44 Cross Selling!44 Client Relations

45 !45 Transferring the Client Client Relations

46 !46 Accounts exceeding estimate Client Relations

47 !47 Handling Client Complaints Client Relations

48 !48 Building Rapport Client Relations

49 !49 Presenting Advice Client Relations

50 Alternative Billing Arrangements Are Influenced By Quantum Mechanics!50 Client Relations

51 !51 Importance to meeting face-to-face Client Relations

52 Pull up a Chair: The Virtual Lunch Meeting!52 Client Relations

53 The Law Firm Relevancy Checklist for 2020!53 Leadership and Management Structure Strategy Client Relations Education Technology Succession The Future What I recommend for your firm

54 !54 Skill 1.Show Me 2.Break it into steps 3.Practice 4.Feedback Education

55 !55 Personal Responsibility Education

56 !56 Values are what we Value High Performance Freedom & Responsibility Context, not Control Highly Aligned, Loosely Coupled Pay Top of Market Promotions & Development Education

57 Enabling!57 The meeting has begun Business plans are due The meeting is resuming Education

58 !58 Voluntary Education the clients will enforce Education

59 The Law Firm Relevancy Checklist for 2020!59 Leadership and Management Structure Strategy Client Relations Education Technology Succession The Future What I recommend for your firm

60 !60 Technology

61 !61 Technology

62 !62 Technology

63 !63 Technology

64 !64 Technology

65 !65 Technology

66 !66 Technology

67 !67 Technology

68 !68 Neota Sept 17, 2018 Technology

69 !69 September 19, 2018 Technology

70 !70 September 19, 2018 Technology

71 !71 September 19, 2018 Technology

72 !72 September 20, 2018 Technology

73 !73 Technology

74 !74 Legal Innovation: Revolution or Evolution? Technology

75 The Crow s Nest (Skunk Works)!75 AI Disruptive Service Offerings New law firm structures Apps (Shake) New Firm location Remote Working Disaster Recovery Plan Secure Emergency Technology

76 The Law Firm Relevancy Checklist for 2020!76 Leadership and Management Structure Strategy Client Relations Education Technology Succession The Future What I recommend for your firm

77 !77 Succession

78 The Elephant in the Room!78 Mandatory Retirement Start the transition conversation early How comp rewards transition Explore other options Of Counsel? On contract? Succession for accidents and unexpected events Succession

79 !79 Succession

80 The Law Firm Relevancy Checklist for 2020!80 Leadership and Management Structure Strategy Client Relations Education Technology Succession The Future What I recommend for your firm

81 !81 What does the Future Hold? The Future

82 !82 Jeff Bezos, founder: amazon.com Net worth US$159.3 billion (September 20th, 2018) The Future

83 Jeff Bezos revealed September 29th, 2018 that Blue Origin will put people in space in 2019!83 He said that he wants to set up a human colony on one of the poles of the moon In March, he revealed that Amazon will send deliveries to the moon by 2020 The Future

84 What Wrong Question does the Future!84 Hold?

85 That s the wrong question!85

86 What remains the same?!86

87 What Matters now?!87

88 Business Problems (not Legal Problems) know my business be results oriented provide quality provide value be responsive!88 Keep me informed

89 The Law Firm Relevancy Checklist for 2020!89 Leadership and Management Structure Strategy Client Relations Education Technology Succession The Future What I recommend for your firm

90 !90 Successful Firms Implement The Seven Immutable laws of Change What I recommend for your firm

91 The Seven Immutable laws of Change!91 1 Propose imperfect change initiatives abandon perfection in favour of action What I recommend for your firm

92 The Seven Immutable laws of Change!92 2 Create a vivid picture (vision) of where this initiative leads 2 Years $5,000,000 increase What I recommend for your firm

93 The Seven Immutable laws of Change!93 3 Paint the first step in clear colours What I recommend for your firm

94 The Seven Immutable laws of Change!94 4 Create cult-like, internal promotional communications What I recommend for your firm

95 5 The Seven Immutable laws of Change Ask for commitment not agreement Commitment does not require the absence of doubt; often commitment means acting in spite of your doubt.!95 (From Larry Anderson's One Sentence Journal.) What I recommend for your firm

96 The Seven Immutable laws of Change!96 6 Tell the world What I recommend for your firm

97 The Seven Immutable laws of Change!97 7 Turn a spotlight on your initiative and leave it on What I recommend for your firm

98 Needs!98 What I recommend for your firm

99 !99 1. Get your lawyers out of their chairs What I recommend for your firm

100 ! Require Rapid Response What I recommend for your firm

101 ! Project Effort What I recommend for your firm

102 ! Create Client Teams What I recommend for your firm

103 ! Listen to everyone What I recommend for your firm

104 The Law Firm Relevancy Checklist for 2020 WSG Annual Meeting September 21, 2018 Founder, Edge International Gerry s Blog: Amazing Firms Amazing Practices Edge Newsletter: Edge International Communiqué Edge website: New Edition: The Successful Lawyer (Kindle/paperback) Skype: gerryriskin Leadership and Management Structure Strategy Client Relations Education Technology Succession The Future What I recommend for your firm!104