The writing on the wall #7 – location, location, location

18 12 2014

Location, location, location...

Let’s for a moment put aside the discussion as to whether an investment by a law firm into premium real estate makes sense. Let’s assume that clients don’t object to funding acres of marble and an atrium full of lush vegetation. This question is about where your firm’s offices are, not what they are.

The location question is very personal. For some firms it might be simply be about growth – we are outgrowing our current premises – do we just need a bigger office, or should we open a second office (and if so, where). For other firms it might be about national expansion, or response to an existing or future competitive threat. However for many firms the stakes are higher, and it’s about international expansion.

It may be an understatement, but international strategy is not easy. Aside from the economics, the cultural, regulatory and language differences, suddenly the complexity and management overhead increases dramatically. Whether the market entry strategy is through acquisition, merger  or lateral hire, you can then throw a whole host of political and personal factors into the mix.

With that in mind, opening a new office seems like a decision to be made thoughtfully, but in a fast moving market that is changing more than ever, how can you make the time you need to really assess where the right locations are for you?

 





The writing on the wall #5 management complexity

15 12 2014

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Firms are getting bigger. Mergers and International expansion may be the main culprits in recent years, bit add the economy slowly returns to growth, plenty of other law firms face the challenges associated with getting bigger.
Some, like the competition for talent are frequently mentioned, but there is another that is less talked about and yet arguably harder nut to crack. It’s the management overhead. Aside from the difficulty and effectiveness of management, how can firms manage the spiralling cost and resource drain?

Whether it’s professional management cost or the time of the most competent partners, it’s easy for it to grow unchecked. What’s the story in your firm?





The writing on the wall #4 – the commodity game

12 12 2014

 

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It seems that whatever the practice area, lawyers talk in hushed tones about their work becoming a commodity. Corporate law, employment law, technology law are among the areas where there is much gnashing of teeth and squeezing of margins.

Much of the debate focuses on whether to do the commoditized elements and if so how to do them profitably, but there is little discussion of what will replace that work at the high end. I suspect the implications of this will be felt in the not-too-distant future.





The writing’s on the wall #2 – scale back your offices?

9 12 2014

Given property is often the second biggest cost of a law firm behind head count, I wonder what the impact would be of scaling back prestigious offices and reinvesting some of the capital in technology that would make a real difference for clients.

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How to find an extra 1,000 hours a year

6 09 2011

I have a confession to make.

The partners were surprised to see Fiona set fire to the firm's library in the name of productivity

I’m an information junkie. All my life I’ve been a voracious consumer of books, magazines and newspapers.

From burying my nose in novels as a child, through reading 3-4 books a week when commuting as a lawyer, to teaching myself to speed-read early in my legal career to keep on top of fast moving professional development, books have never been far away.

Indeed I wrote about how reading more widely can help a lawyer become more rounded and get a wider perspective that can enhance their thinking and advice (and I stand by that idea!).

So what’s the problem?

Well, the quantity, quality and ease of access to information  is so high these days, that reading can take up a disproportionate amount of time.

It’s possible to spend so much time reading, that experiencing life and reflecting on it can take a back seat.

I took some time to reflect on this challenge on a recent holiday, and realised that I was bombarding myself with information pretty much from the moment I open my eyes. Does some or any of this sound familiar…

  • Wake up. Check smartphone for urgent emails
  • Waiting for train – check news and sport headlines on smartphone, check twitter and facebook feeds
  • On train – read newspaper on Kindle, when done move onto ebook (usually business or personal development)
  • Work – check Google reader feeds, work reading, twitter while waiting for meetings, walking to get lunch etc
  • Train home – read ebook (business or personal development)
  • Before bed – read ebook or physical book (could be work or fiction)
  • Repeat.

Aside from the enjoyment I got from reading (an important factor not to gloss over in this discussion), it was apparent that my mind was whirring constantly from the moment the alarm went at 5am. My sense was that while this definitely had benefits in terms of the sheer amount of knowledge I was accumulating (much of which has been very useful), it was also draining a lot of mental energy and limiting the headspace I had for thinking and reflecting, and on balance the negatives were beginning to outweigh the positives.

As the Tao Te Ching says (verse 48) “learning is daily accumulating, the Way is daily diminishing”  (and yes I realise that’s a quote from a book!).

Sometimes less is more.

So I decided to do an experiment – I’d go on an information diet.

The first thing I did was cut out reading a daily newspaper. I’ve read a newspaper pretty much every day for the last twenty years. Give or take a few minutes, it takes me about 30 minutes to read the whole thing in my very methodical way. News headlines, sport, UK news, overseas news, business news, features and culture. Bish bash bosh.

Now giving this up might seem a small step, but psychologically I wondered what the effect would be – would it hamper my ability to hold conversations in the office? What about at social events? Would I go to meetings and find I didn’t know what people were talking about? Would this damage my personal competitive advantage? Would I become (perish the thought) less interesting?

The reality – important news found me. I didn’t have a complete news black out – quick checks on the BBC mobile news, trends from Twitter, and of course conversations have so far (four months and counting) brought me all the news I seem to need.

What I didn’t anticipate is that where I have needed to find out about something (and this has been very rare), simply asking the person who’s raised the issue to tell me what’s happened had led to some rich conversations and elicited opinions I might not have got if I’d already known the detail.

The other thing I noticed, is that when I pick up a newspaper, I now see how much news there is that really has no impact on my life (in any capacity), which is generally depressing, but which  I would have consumed anyway in my pre-information diet days.

On a similar note, a former journalist I met with last week mentioned that he was continually frustrated by his inability to block out which contestants are currently appearing on Celebrity Big Brother because despite his total lack of interest in the subject, it seeps into his consciousness through the media.

So far so good. I’d reclaimed three and a half hours of time per week (182 hours a year  sounds more impressive!). Assuming I used that time wisely, that was a real productivity boost.

The next step was to stop reading other books.

So for the last three and a half months, the only book I’ve looked at (which I mentioned in my post The Tao of Law Firm Strategy) has been the Tao Te Ching – the classic Chinese text which is best described as a cross between philosophy and poetry. Read for five minutes, ponder for an hour.

So for all intents and purposes, my reading has gone from say 3 hours a day, to zero. That’s over 1,000 hours a year. Or one and a half months.

Pretty drastic? Maybe.

Permanent? Don’t know.

One of the important points (in my eyes anyway) is that not only have I reduced the information I take in, but I’ve chosen not to replace that activity with another. It’s just white space and  I definitely appreciate the extra time I now have to think things through (work and personal) and also just be.

There are times when less is definitely more.

It’s also made me much more conscious of where I choose to focus – Davenport wrote a great book called The Attention Economy about the value of attention (related article  at Brainpickings if you’re interested), and having some extra time and space to allow you to step back and re-prioritise is surely a good thing.

So what’s the reading end-game for me?

Well, I think I will welcome books back into my life at some point, although I feel no rush to do it right now. When I do I think I’ll be more selective about what I read – to offer me greater benefit that the space I’ve freed up, it’s going to have to be quite a book!

So for busy lawyers, while I can’t free you from the tyranny of the timesheets (the market will do that in time…), by limiting the amount of information you take in outside the office, you might find yourself more productive.

Just don’t spend the time you’re freed up watching television. Please!

 





Why law firms need a CLO (chief listening officer)

12 08 2011

When I started my legal career in the mid/late 90s, no-one ever talked of the CEO or the CFO. There was a Managing Partner, probably a Senior Partner, and a Finance Director.

Eric's campaign for Managing Partner was based largely on the popularity of his beautifully formed ears

While looking at job titles may seem simplistic, it actually throws up some interesting trends (and I’m not repeating my rant about putting the words “equity partner” on your business card). In some firms, the adoption of the CEO and CFO titles genuinely represents a shift to a more corporate structure, where the executive have more authority. This was required as firms became more complex and more distributed – the slow, consensual nature of partnership was hampering firms’ ability to move at the pace required by the market, and a changing governance structure was one response.

Another interesting change was the emergence of the COO, showing in many firms a need to separate the day to day operations from the other issues such as people, strategy and technology. Strange thought it may seem now, twenty years ago it would not have been common for a firm to have an HR Director, a Business Development Director or an IT Director. These emergence of these new roles is partly a response to the increased scale of law firms, but also a recognition that to be successful in law these days, there’s more involved in the business than simply providing legal advice.

More recently still we’ve seen the rise of the CKO (chief knowledge officer) and CIO (chief information officer) in law firms, and also the CLO (chief legal officer) as an alternative to general counsel in the corporate world.

And this brings me to the title of the post – an alternative meaning for CLO. The answer comes in a post (set out below in italics) from the prolific and thought-provoking legal blogger, Julian Summerhayes about the role of the managing partner.

To my mind, listening, the critical skill Julian references, is critical for all lawyers, not just in their legal work, but also in their selling (see number one in my list of top lawyer sales fails). So whether you’re a managing partner or not, read on and reflect on how practising and developing this skill might help you:

Most managing partners that I have met describe their role as like herding cats.

You know the score: two lawyers can’t agree the time of day. And you magnify that up to include the plethora of issues, including the big one – PEP – and is it any wonder that poor old managing partner feels like s/he is dealing with a swarm of angry bees?

What do you think is the role of your firm’s managing partner? 

  • Leader?
  • Visionary?
  • Communicator?
  • Motivator?
  • Political strategist?
  • Tough negotiator?

I’ll give you my view:

CHIEF LISTENING OFFICER (CLO).

And not the sort of listening you normally observe which, at best, skims the surface and never really understands the issue. No, someone who is so intensely focused on listening to you that it is scary.

Scary in what sense?

Scary in the sense that you know they deeply care about you and your needs. They are not constantly scoping the conversation to make their point, or talk in firm speak or make you feel (like a lot do) that you are inferior to them (or at least your ideas).

People skills, being human and wanting you to succeed should be the only selection criteria for managing partners.

The problem for a lot of managing partners is that they take on too much.  Their focus is ameliorated to such an extent that they never get time to address the fundamental people issue.

Of course most large firms will have a Human Resources department but my experience of such departments is that they are more focused on making sure the correct procedure is followed than listening to people. In fairness they don’t really have the power to make a difference – they know that any major decision will be deferred to one of the partners.

Without wanting to name any of the managing partners that I worked under, the one that stands out was the one who took time to stop by whenever he was in the office, put his head around the door and simply say “Hello Julian. How are you?”

There was no agenda. He seemed genuinely interested, and didn’t automatically jump the fence and ask “Are you busy?” As if I was going to confess to surfing the Net all day because I was bored out of my mind doing crap work!

No, this managing partner made me feel, dare I say, special.

Listening is a strategic skill.

It should be taught at every level from undergraduate to senior partner.

As a skill set it is matchless.

How many courses have you attended on it? I have been on loads where you are taught the art of speaking but not listening.

Isn’t it wonderful when you come across someone who intensely listens? Someone who focuses their attention on you.

As I mentioned in yesterday’s post the people we find most interesting are the people who are most interested in us.

Try it for yourself. Next time you meet with someone just listen.

Don’t do anything else.

Try not to focus on what you think they are about to say.

Don’t steer the conversation in any one way.

Let one question follow on from the next.

Be humble.

Be patient.

And don’t finish the conversation until the other person has finished what they have to say.

Summary

If you still want a managing partner then fine but how about changing the job specification to include CLO?

Slow down and listen.

Find out something new about your staff and remember it. Better still act on it, if there is something to act on.

It is the small detail (if you can call listening ‘small’) that can often make the biggest difference.

 





The epic failure of the world’s best presenter

30 05 2011

Over the past few weeks I’ve been out and about in the legal community and seen a number of presentations from eminent QCs.

The verdict was in. EPIC FAIL!

Now for those of you outside the UK, Queen’s Counsel (QCs) are the creme de la creme of that part of our legal profession that performs in court.

As a result, they need to be super persuasive, brilliant communicators, and able to influence the toughest of judges and juries.

Now I have to admit, other than a trip to see the House of Lords (the judicial arm, not the political chamber) when I was a law student, I’ve never actually seen any of them live in action, as litigation was never my area of practice as a lawyer. That said, I have no reason at all to suspect their professional abilities are anything other than tremendous – I suspect the market for their services would have found them out well before they reached the top if they didn’t cut the mustard.

However, my recent exposure to their presenting abilities was not in the familiar setting of a courtroom, but the cold, harsh reality of the seminar circuit.

These, were very much “away” matches and not comfortable home fixtures.

The most astonishing presentation was from an eminent QC who had thoughtfully prepared for his audience a 90+ page summary of the recent developments in the law in his area of practice over the last twelve months.

“Great”, I thought to myself as I settled down before the seminar began, “this means I won’t need to take notes during the lecture, and I’ll be able to really concentrate on what he’ll say”.

As our presenter took the stage to applause, and the audience settled down in anticipation, my expectations were high. After a few brief, humorous anecdotes, it was time to get down to business.

Our presenter then produce his own set of notes, identical to the audience’s, but heavily highlighted and with a massive amount of post-it notes poking out all over the place. They looked like a giant, fluorescent hedgehog, and my spidey-sense began to tingle. Something was wrong.

“If you’ll all please turn to page 4 of your notes, we’ll begin with paragraph 16…..”.

The presenter then began to read his notes.

Yes. Really.

We then had, I kid you not, 75 minutes of this heavyweight QC reading his notes out to an audience of at least 200 delegates. It was truly painful. Did he not think we could read them ourselves? What value did he think he was bringing to the written material? Did he think about the audience at all? It was truly astonishing.

The other QC presentations (different events) were a marginal improvement, but continued on a central theme. All the others involved powerpoint (which as a tool can be very useful, but is often grossly misused IMHO) , and typically the presentations were built using a standard Microsoft template with the chambers logo hastily cut and pasted on the last slide. They all used bullet points and seemed to be a font size of about 16, which meant the writing was (just) legible for those at the back of the auditorium, but small enough so the QC could pack enough text on to simply read out for 30-45 minutes.

All of the presentations were, by today’s standards, epic failures of the highest order.

You’ll have gathered that nil points were awarded for presentation style. But on top of that, the content itself was so dry and dusty, cobwebs began to form on my ears as I listened. These people are often at the absolute cutting edge of legal developments in the areas they were speaking about, and so surely (surely!) must have had some practical examples they could have shared, some war stories to make the law seem a little more “real”? A little human warmth to bring things alive?

The other unifying theme through all of the presentations, and for me, the final nail in the coffin was the timing. Each of the presentations finished in a huge rush, with material at the end of the talk being either run through at a million miles an hour, or skipped entirely.

Now I appreciate there are undoubtedly times when time can be difficult to manage in a presentation – when you are presenting towards the end of a conference, other sessions have overrun, and as a result your time is compressed. Fine. Or perhaps if you are taking questions as you present, and either some really interesting debate arises, or you have a particularly difficult audience member.

But in the examples I’m describing, these factors weren’t present, it was just bad time management from the presenters.

What made this even more unforgivable, was that I saw two of the QCs take questions at the end of their presentations, and both were brilliant. Utterly fantastic.

They came alive – their personalities shone through, they were engaging and their mastery of their subject matter became crystal clear. Difficult questions were not brushed aside, but met head on with relish and grace. Stories and really useful hints and tips came tumbling from their lips.

It was like night and day.

In short, they became (as I expected from a QC), truly world-class presenters.

But, in my mind, this only made their performance during the main presentation even more surprising.

Let’s be clear, they are far from the only people who have given poor presentations. I know I’ve presented and not lived up to my own standards, and I also know there are plenty of people who present and do so either being absolutely terrified, or do so without being given appropriate training or experience.

Regular readers will know I’m a big fan of an approach called “Presentation Zen” by Gary Reynolds, but just following the presentation basics would have worked for the QCs in question.

Think of your audience. Build a story. Structure your message. Work out the timings. Practice.

You don’t need to be a QC to shine.








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