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Patrick J. McKenna

CEO at McKenna Associates Inc

Edmonton, Canada

An internationally recognized authority on professional service firm management, Patrick has, since 1983, worked with the top leaders of premier firms around the globe to discuss, challenge and escalate their thinking on how to manage and compete effectively.

He authored a pioneering text on law firm marketing, Practice Development: Creating a Marketing Mindset (Butterworths, 1989), recognized by an international journal as being “among the top ten books that any professional services marketer should have.” His subsequent works include Herding Cats: A Handbook for Managing Partners (IBMP, 1995); and Beyond Knowing: 16 Cage-Rattling Questions To Jump-Start Your Practice Team (IBMP, 2000).

In 2006, McKenna’s e-book First 100 Days: Transitioning A New Managing Partner (NXTBook) earned glowing reviews and culminated in Patrick conducting a one-day masterclass for new firm leaders, usually held at the University of Chicago. Thus far over 80 new leaders from legal, accounting and consulting firms have graduated from the program.

A prolific writer on firm leadership, his book (with David Maister), First Among Equals: How to Manage a Group of Professionals, (The Free Press, 2002) topped business bestseller lists in the United States, Canada and Australia; was translated into nine languages; is currently in its sixth printing; and received an award for being one of the best business books of 2002. The book Management Skills (John Wiley, 2005) named McKenna among the “leading thinkers in the field“ together with Peter Drucker; and in 2008, In The Company of Leaders included his work amongst other notable luminaries like Marshall Goldsmith. His Serving At The Pleasure of My Partners (Thomson Reuters) was released in 2011 and Strategy Innovation: Getting To The Future First (LBW Publishing) came out in 2019.

His articles have appeared in over 50 leading professional journals, newsletters, and online sources and he has contributed chapters to 38 international books and monographs.

Available For: Authoring, Consulting, Influencing, Speaking
Travels From: International
Speaking Topics: Competitive Growth Strategy, Leadership, Future Trends in Professional Services

Patrick J. McKennaPoints
Academic45
Author540
Influencer35
Speaker6
Entrepreneur0
Total626

Points based upon Thinkers360 patent-pending algorithm.

Thought Leader Profile

Portfolio Mix

Company Information

Company Type: Company
Email: patrick@patrickmckenna.com
Business Unit: Strategy
Theatre: International
Media Experience: 30 years
Last Media Interview: 03/16/2020

Areas of Expertise

Digital Disruption 30.79
Innovation 63.30
Leadership 46.50
Management 50.19
Marketing 30.42
Change Management 40.75
Business Strategy 39.39
Culture 34.65
Risk Management 30.15
Health and Safety 32.80
Healthtech 32.50
Open Innovation 31.25
AI 30.44
Digital Transformation 30.12
Legal and IP 100
HR 30.69
Customer Experience 30.31
COVID19 32.23

Industry Experience

Healthcare
High Tech & Electronics
Media
Professional Services

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Publications

19 Article/Blogs
Hanging Up The Crown
CBA National
March 29, 2020
Taking over from some long-serving firm leader or a founding partner can present an enormous challenge for a new managing partner. In some firms, it gets ridiculously difficult when the new leader is given only a few weeks, or even days, to prepare themselves before having to step into the role -- or when the incumbent is not fully supportive of the transition.
A departing firm leader can undertake a number of actions to make the leadership transition much smoother.

See publication

Tags: Business Strategy, Leadership, Legal and IP

Are You Ready for “The Social Distancing Recession?”
LinkedIn
March 15, 2020
Wise law firm leaders will be balancing dual agendas – with their first priority toward navigating unprecedented challenges while also looking past the storm to a time when valued clients will need help in handing deals that are once again possible and attractive assets that are up for grabs at significant discounts. Most of us are hunkered down, but as markets stabilize and we get used to video conferencing with clients, deal-making promises to kick back into high gear.

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Tags: Business Strategy, Leadership, Legal and IP

Clients Value You Having a “DEEP” Industry Focus: So Do You?
Legal Executive Institute
March 11, 2020
While attorneys tout their deep technical or functional expertise, most clients view that as table stakes. They assume you’re an expert in employment law, international tax or complex litigation. And as clients face increasingly complex business challenges that go well beyond any one (traditional practice group) area of the law, they wonder if you really understand the key aspects of their industry. To be fair – they don’t care if you don’t know the intricacies of making their widgets – but they DO want you to know the idiosyncratic aspects of what they are having to deal with.

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Tags: Leadership, Business Strategy, Legal and IP

Does Your Firm Have A REAL Industry Focus?
Legal Executive Institute
February 20, 2020
Understanding Your Client’s Industry is the single biggest differentiator among law firms. Unfortunately, for too many firms, any pretense of having a real industry focus is simply a list of industries displayed on their website – without any recognition that perhaps clients can discern the difference. Bad News Flash: you are not fooling anyone! Here are a dozen diagnostic questions (not intended to be comprehensive) that you might internally review and discuss, to evaluate where you stand with respect to having a genuine industry focus.

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Tags: Leadership, Business Strategy, Legal and IP

xHow Do You Get Your Practice and Industry Groups Firing on All Cylinders?
Legal Business World
February 15, 2020
You appointed professionals to positions as practice group leader whom you thought would do the job (and who promised you that they would try); you provided them with some basic training; and you endeavored to periodically meet with them all as a group to provide a bit of a pep talk. Despite all your efforts, only a FEW of your groups are functioning as you had hoped. So what to do?

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Tags: Leadership, Culture, Business Strategy

The Art Of Leadership
fivehundred magazine
November 01, 2019
This article is intended to outline for new firm leaders the eight challenges that they often do not expect when first taking the reins and certainly don't talk about amongst their peers.

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Tags: Change Management, Leadership, Risk Management

Strategy Innovation: Getting To The Future First
LinkedIn
July 10, 2019
Download your copy of my new 240-page eBook - Strategy Innovation: Getting To The Future First – https://lnkd.in/grsexeq

If you want your firm to WIN in today’s highly competitive environment you need to possess an unwavering and intentional focus on tomorrow. This book is intended to help you advance your innovative, entrepreneurial, and strategic thinking to develop a thirst for pulling the future forward on behalf of your firm and it’s various competitive practices.

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Tags: Innovation, Business Strategy, Legal and IP

e-Sports Practice
Legal Executive Institute
March 28, 2019
eSports has become a specialized micro-niche of opportunity over the last few years. The stunning rise in the popularity of particular teams of video gamers competing against one another in front of a live and broadcast audience is becoming big business.

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Tags: Business Strategy, Innovation, Marketing

Digital Transformation - Part 2
Legal Executive Institute
February 27, 2019
The US market, the largest and most mature as to digital transformation, is also one of the fastest growing and was the first to go all out in this area. And while law firms have been slow to identify this micro-niche as a lucrative area of focus, the consulting profession has not.

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Tags: Digital Transformation, Innovation, Leadership

Digital Transformation - Part 1
Legal Executive Institute
February 20, 2019
Today, successful companies realize the costs of failing to innovate in a business landscape that is seeing incumbents displaced at an increasingly rapid speed. Intel, which has more than 100,000 employees, holds quarterly innovation days where employees can report the digital threats and opportunities they see in the distance.

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Tags: Digital Transformation, Innovation, Leadership

How Conventional Strategizing Can Be A Waste of Time
Legal Business World
June 09, 2018
Many firms that have been involved in conventional strategic planning are failing to improve their ability to differentiate themselves, their competitiveness or their relative growth, in spite of the investment of time and effort in the planning exercise. One needs to recognize that the typical strategic planning exercise now conducted and infused with massive quantitative data misses the essence of the concept of strategy and what is necessary for being innovative and differentiated.

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Tags: Innovation, Management, Leadership

Developing Your Growth Strategy: Seeking Clear Blue Waters
Legal Business World
June 09, 2018
One of the little ironies I’ve observed over the years is firm-wide strategic plans that get drafted and finalized without any allowance for input from the various business units that comprise your firm. In other words, what I’m proposing here is that what you, as firm leader, are managing is NOT one homogeneous firm but rather a portfolio of very different business units – such that what may be required to develop, market and grow a very successful and profitable Health Care Group will be very different from that required for a highly successful Labor and Employment practice. Like many clichés, this one turns out to be true – a successful firm strategy is largely built around having strong practice groups, positioned in growing market (micro) niches, developing a distinctive presence, doing higher value work.

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Tags: Innovation, Management, Leadership

Leading to the Future: Evolution of Blockchain and Its Impact on Your Clients
Legal Executive Institute
April 26, 2018
It was only back in mid-2015, while speaking at a couple of legal conferences (including one on Client Growth Strategies), that I would ask, “Show of hands, how many of you have heard of blockchain?” only to confront an audience that had no idea what I was talking about. Fortunately, I would speculate that most of these same folks have now heard of blockchain and have some notion of what the label refers to… but do they really?

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Tags: Blockchain, Innovation, Fintech

Sound Advice for New Law Firm Leaders (Part 2)
Legal Executive Institute
March 27, 2018
If you are like most who have traveled this route, I guarantee you that you will go through several distinct stages in the early days of your leadership transition. It starts with anticipation, where you are eager, excited, and thinking to yourself, “I guess my partners really do think that I can lead our firm to greater heights.” Unfortunately, it may not be long before your initial excitement gets bogged down by the reality of daily tasks as the urgent crowds out the important, and you now find yourself thinking, “What the hell did I get myself into?”

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Tags: Business Strategy, Leadership, Management

Sound Advice for New Law Firm Leaders (Part 1)
Legal Executive Institute
February 21, 2018
Over the years, I’ve had the privilege of conducting research and one-on-one interviews with at least 50 law firm leaders who provided their real-world perspectives and experience on all aspects of becoming a firm leader — from the agony of deciding to take on the job, to making the difficult transition from just practicing law, to also leading an entire firm. All of my work unhesitatingly confirms for me that there are some critical actions that new leaders will need to take to ensure a successful tenure at the top.

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Tags: Business Strategy, Leadership, Management

The Challenges in Sharing Leadership
Legal Executive Institute
June 01, 2017
The job of leading a law firm may certainly be demanding enough for two professionals; but the test is selecting the right two people to share the role. From my vantage point I have witnessed multiple examples of attempts to split the firm leadership job that led to clashing egos and crippling power struggles, especially if one of these two partners conceals any ambition for holding the position alone.

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Tags: Business Strategy, Leadership, Management

The Myth of Visionary Leadership
Legal Executive Institute
October 03, 2016
While almost every book on leadership suggests that a true leader needs to have a vision (with more than 400 books listed under “Visionary Leadership” on Amazon) I think it is nice in theory, sounds profoundly intelligent as a concept, but is absolute nonsense in its application with highly talented professionals.

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Tags: Business Strategy, Innovation, Leadership

Solving the ‘Commitment Drift’ Frustration
Legal Executive Institute
July 28, 2016
If there is one single frustration that I hear from firm and practice leaders on a continual basis it is trying to determine how to deal with the “commitment drift” of those partners who make promises but don’t always follow through. In other words, how do you ensure task completion on important projects when your partners agree to do something at the implementation stage, and you’re uncertain that you will see the necessary committed follow-through?

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Tags: Business Strategy, Innovation, Leadership

Involving Firm Leaders in Selecting their Successors
Legal Executive Institute
June 06, 2016
Firm chairs and managing partners can play a very critical role in identifying and developing leadership talent within their firms — most specifically those lawyers ready to head up offices, practice groups and industry teams. But in my experience, there are a number of reasons why I would be cautious about having your current firm leader choose his or her successor.

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Tags: Business Strategy, Innovation, Leadership

8 Books
The Art Of Leadership Succession: How To Select Your Next Firm Leader
LBW Publishing
April 15, 2019

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Tags: Change Management, Culture, Leadership

When It Comes Time To Instigate Change
Legal Business World Publications
March 20, 2019
Every few years a new theme emerges in law firm management. There was a time and perhaps it still exists where we witnessed resistant attorneys being forced to take the marketing of professional services seriously. We have all since observed initiatives like total quality management, branding programs, alternate billing methods, and project management assume center stage. Meanwhile, many of our skeptical and often times, senior partners have chosen to sit on the sidelines.

So why is it that these professionals are so skeptical?

From understanding the “Challenges of Implementing Your Initiatives” and “Helping Your Partners See The Need to Change” to “Helping Your Partners Take Action” and
“Nurturing Your Partners To Follow-Though” this 50-page eBook provides advice and counsel on how to convert best intentions into best practices.

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Tags: Innovation, Leadership, Change Management

Strategic Challenges That New Firm Leaders Face
Legal Business World magazine
January 14, 2019
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! There are a number of common questions that I find are asked about leadership transitions and the challenges that new firm leaders often face and so I have identified those with my observations and experience with respect to each

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Tags: Business Strategy, Innovation, Leadership

The State of Law Firm Leadership
Legal Executive Institute
August 09, 2018
This extensive White Paper is based on a comprehensive 30-question survey, distributed in June and July to a group of about 300 law firm leaders, many among the Am Law 100 and 200 ranked firms. The data uncovered some surprising and potentially valuable findings

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Tags: Innovation, Leadership, Legal and IP

Leadership Lessons From The Trenches
Legal Business World
June 20, 2018
This 120-page book is a compilation of some 34 concise, leadership tips containing pithy, pragmatic and sometimes, provocative advice on everything from how the best leaders get exactly what they expect to being a good coach to your colleagues (contained in Part One: In The Trenches With Colleagues) – and – from how to signal what you value as a leader to why those supposed ‘best practices’ are not always best (in Part Two: In The Trenches With Your Team).

These meanderings were inspired by those I’ve had the honor of working with, were fun to write and so I hope equally rewarding to read; but more importantly provide some guidance on how you can make your leadership journey more meaningful for those you serve and more personally gratifying for yourself.

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Tags: Innovation, Leadership, Management

The Fearless Leader’s Advisory Board
Legal Executive Institute
December 19, 2017
More than just a sounding board or a chance to schmooze, a carefully selected and trusted Advisory Board can help a law firm leader avoid potential problems while solving existing ones, fine-tune strategies and stimulate some new and innovative ideas.

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Tags: Innovation, Leadership, Legal and IP

Serving at the Pleasure of My Partners: Advice to the New Firm Leader
Thomson Reuters
March 15, 2011
Serving at the Pleasure of My Partners: Advice to the New Firm Leader provides straightforward guidance about your tenure as manager – your leadership style, compensation, time management, and responsibilities – and the people you manage.

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Tags: Business Strategy, Leadership, Legal and IP

First Among Equals: How to Manage a Group of Professionals
Free Press
April 04, 2005
Professional service gurus David Maister and Patrick McKenna have created a practical handbook on how to lead professional colleagues or peers when you lack formal authority. Harvard Business School’s Working Knowledge calls it “a timely, easy to read work leavened with action plans and examples.”

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Tags: Innovation, Management

2 Book Chapters
Proactive Leadership: Conducting a Strategic Plan “Premortem”
Legal Executive Institute
August 14, 2017
Having worked with members of your law firm’s Strategic Planning Committee (SPC) for a number of months, you’ve finally come to the point where you have a draft of a strategic plan that has been approved by the partners and now just needs some attention directed toward how certain components will actually be implemented.

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Tags: Business Strategy, Innovation, Leadership

The Challenges Inherent in Assessing Law Firm Leader Performance
Legal Executive Institute
March 20, 2017
The first challenge that needs to be addressed is the fact that most leaders of large law firms don’t have a formal written job description, so how can you evaluate someone unless they are clear on what the job is?

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Tags: HR, Leadership, Legal and IP

8 Conference Publications
Legal Micro-Niche: Anti-Aging & Regenerative Medicine.
Legal Executive Institute
November 08, 2019
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; the global longevity industry is primed to reach $17 trillion this year and on track to crack $27 trillion within the next five years.

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Tags: Healthtech, Health and Safety, Legal and IP

Lucrative Micro-Niche: Synthetic Biology
Legal Executive Institute
September 18, 2019
Biology is already changing the way we live, eat, manufacture, and treat human health. In the next few years, synthetic biology — a $40 billion industry — will be the premier technology of the 21st century that will be used to solve real-world problems facing millions.

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Tags: Business Strategy, Digital Disruption, Open Innovation

Lucrative Micro-Niche: Deep Learning
Legal Executive Institute
July 10, 2019
The amount of data we generate every day is staggering — currently estimated at over 2.6 quintillion bytes. 2.6 quintillion! It’s a number so large that 2.6 quintillion pennies would, if laid flat, cover the entire Earth… five times. And that number is only growing with the increasing number of devices being made available and being used. If data is the new oil, what new products can we make? That’s where deep learning comes in.

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Tags: AI, Digital Disruption, Innovation

A Lucrative Micro-Niche: The AgTech Practice
Legal Executive Institute
June 06, 2019
Imagine driverless tractors tilling acres of crops, produce growing in massive climate-controlled warehouses, and seeds genetically altered to require less water. These and other modern marvels are among the high-tech innovations changing, or about to change, the centuries-old face of agriculture.

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Tags: Business Strategy, Leadership, Management

A Lucrative Micro-Niche: Climate Change Practice (Part 2)
Legal Executive Institute
May 02, 2019
Oil companies are taking climate change litigation cases very seriously. Exxon Mobil, the world’s largest, launched a million-dollar push in 2018 for carbon tax legislation that includes immunity from climate change-related lawsuits. Exxon is also facing lawsuits for allegedly misleading investors about the risks of climate change to its business as well as the risks of future climate regulations.

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Tags: Business Strategy, Leadership, Management

A Lucrative Micro-Niche: Climate Change Practice (Part 1)
Legal Executive Institute
April 24, 2019
In 2016, the nations of the world created the Paris Agreement, an international call to action in the battle against a rapidly changing climate. The agreement outlined limits to greenhouse gas emissions and other major changes to economies and infrastructure — the kinds of things that might be inconvenient but worth doing when the alternative is widespread climate catastrophe. Nearly every country in the world signed the agreement. But today, nearly every country in the world is falling short of its commitments — and the science behind those commitments is getting scarier.

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Tags: Business Strategy, Leadership, Management

The Advent of the Legal Practice’s Micro-Niche, Part 2
Legal Executive Institute
October 18, 2018
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.

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Tags: Business Strategy, Leadership, Management

The Advent of the Legal Practice’s Micro-Niche, Part 1
Legal Executive Institute
October 04, 2018
I have a new word that I share with lawyers whenever I’m speaking at conferences — “Infobesity.” It is meant to help them try to conceptualize that we now live in a time where we all suffer from an information epidemic, wherein we are exposed to the digital equivalent of more than 176 newspapers worth of data every day!

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Tags: Business Strategy, Leadership, Management

2 eBooks
Strategy Innovation: Getting To The Future First
LBW Publishing
July 10, 2019
Download your copy of my new 240-page eBook - If you want your firm to WIN in today’s highly competitive environment you need to possess an unwavering and intentional focus on tomorrow. This book is intended to help you advance your innovative, entrepreneurial, and strategic thinking to develop a thirst for pulling the future forward on behalf of your firm and it’s various competitive practices.

See publication

Tags: Innovation, Leadership, Business Strategy

First 100 Days: Transitioning A New Managing Partner
NexBooks
March 15, 2006
This text provides prescriptive counsel to new firm leaders on what actions they might consider as they begin undertaking their initial responsibilities. Included is the experienced wisdom and real-world commentary of some twenty law firm leaders.

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Tags: Leadership, Legal and IP

2 Influencer Awards
Strategy Innovation: Getting To The Future First
Legal Business World
July 15, 2019

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Tags: Business Strategy, Innovation, Leadership

Top 10 Most-Read Blog Posts on the Legal Executive Institute Blog in 2018
Legal Executive Institute
January 04, 2019
We at the Legal Executive Institute blog thought we’d get into the game by offering our “Top 10 Most Viewed Blog Posts of 2018”.
One of my articles was identified as the #2 Most-Read!

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Tags: Culture, Leadership, Legal and IP

1 Journal Publication
A Lucrative Micro-Niche for Lawyers: Additive Manufacturing / 3D Printing
Legal Business World
July 12, 2019
When one hears the term 3D printing, it is just natural to think of it as a way to produce a small plastic desk accessory or toy you might pick up in a gift shop. But 3D printing is instead, part of a broader range of revolutionary technologies known as additive manufacturing (AM). 3D printing is a process where a physical object is created from a digital blueprint of something that’s “sliced” into thin horizontal layers and uploaded to a printer.

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Tags: Business Strategy, Innovation, Leadership

6 Media Interviews
New Insights from Managing Partners On a New Kind of Crisis
LinkedIn
March 26, 2020
No one knows what to expect. But the near term is not good – or worse depending on who you talk to. This week I was pleased to have the opportunity to join Michael Rynowecer, President of BTI Consulting to see what we could learn from leadership partners about what law firms are doing and how they are thinking. We canvassed about 25 managing partners (or equivalent) at firms with more than 500 attorneys. Here are key insights from their thinking, together with a few of our observations:

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Tags: Innovation, Leadership, Business Strategy

Law Firm Pay Cuts, Layoffs Will Likely Multiply
Law360
January 04, 2020
The reports on cost-cutting measures taken by midsize and large law firms will likely flood in as firms realize the gravity of the economic downturn caused by the COVID-19 pandemic.

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Tags: Leadership, Business Strategy, Legal and IP, COVID19

When Your Strategic Plan Needs to Get Implemented
Legal Business World Publishing
February 27, 2019
Whenever I think about the effort that is required to go into implementing your firm’s strategic plan, I’m reminded of a particular business book title that grabbed my attention when I first saw it . . . Hope Is Not A Strategy! To effectively transform your best intentions into tangible action, there are several common hurdles that you may need to overcome. Thinking through the following will help you make the leap.

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Tags: Business Strategy, Innovation, Leadership

Innovative Metrics to Stimulate Innovative Action
Legal Business World
November 26, 2018
At a recent gathering of firm leaders, while bemoaning the flat demand for legal services and the increasing power of clients, one discussion centered around metrics – financial and performance-oriented measures. While we are all familiar with the usual billable hour, collections, matter profitability, and so forth, this discussion provoked me to think about some of the more unorthodox, but vital metrics that I believe law firm leadership should ALSO be looking at. Here are a five unusual metrics that I think are worth taking a very serious look at in your firm.

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Tags: Business Strategy, Innovation, Leadership

The Power of What Your Client’s Say
Legal Business World
December 05, 2017
It’s hard to deny: clients today are particularly skeptical. So, one difficult challenge each of us as professionals face, is coming up with a convincing response to one critical question (whether it is articulated or just being thought about): “As a prospective client, tell me please, why should I choose you (your firm or your practice group); what makes you distinctive and what added-value do you bring to my business matters … that I cannot get anywhere else?” (and please do notice those last six words).

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Tags: Business Strategy, Customer Experience, Marketing

What Leadership Messages Are You Sending?
Legal Executive Institute
January 09, 2017
One of the more profound things I’ve learned and try to pass along to new leaders (be they managing partners or practice heads) is to “act like you are on stage at all times… because you are!” Everything you do and say will send messages, set a tone, establish expectations and communicate direction about what is of priority to you.

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Tags: Business Strategy, Innovation, Leadership

2 Speaking Engagements
How As A Firm Leader You Can Harness Innovation
Legal Business World
December 16, 2019
Pick up the firm brochure or visit the web site of most any professional services firm and you will see somewhere in the content, “We are acknowledged for our ability to find new, creative and innovative solutions to solving our client’s problems.” And in most firms that statement is neither puffery, nor a crass exaggeration. Your leadership challenge becomes one of redirecting some of that innovation that your colleagues just naturally display in solving client problems, to innovation in running the business side of the practice. What that all means is that “innovation” is now being added to the long list of competencies that you as a firm leader are expected to be conversant with and to eventually master implementing within your firm. So here are some things that you as a firm leader, interested in developing your firm’s capacity for being more innovative, need to know to take some of the mystery, and misery, out of innovation within your firm.

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Tags: Business Strategy, Innovation, Legal and IP

How As A Firm Leader You Can Harness Innovation.
Legal Business World
December 16, 2019
Pick up the firm brochure or visit the web site of most any professional services firm and you will see somewhere in the content, “We are acknowledged for our ability to find new, creative and innovative solutions to solving our client’s problems.” And in most firms that statement is neither puffery, nor a crass exaggeration. Your leadership challenge becomes one of redirecting some of that innovation that your colleagues just naturally display in solving client problems, to innovation in running the business side of the practice. What that all means is that “innovation” is now being added to the long list of competencies that you as a firm leader are expected to be conversant with and to eventually master implementing within your firm. So here are some things that you as a firm leader, interested in developing your firm’s capacity for being more innovative, need to know to take some of the mystery, and misery, out of innovation within your firm.

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Tags: Business Strategy, Innovation, Leadership

Radar

2 Trends
Equity Crowdfunding Micro-Niche.

Date : September 12, 2020

While Covid-19 may be decimating many businesses, it is already creating scores of new ones and serving as a catalyst for improved sources of “alternative financing” – and one notable micro-niche within alternative financing is equity crowdfunding (or Reg CF). By way of a small example, take a look on LinkedIn at #crowdfunding to see that there are already 86,350 followers. On July 10 I noticed a posting from Jose Montero, a California-based CEO, announcing the official close of “our crowdfunding campaign” after maxing out early with 3800+ investors reaching his funding goal of $1.7 million (the regulated cap) to finance Blue, a smart business card and mobile app.

See Radar

Social Media Influencer Micro-Niche

Date : September 12, 2020

Among a number of micro-niches that I have been monitoring is one that received high-profile attention on June 30th by way of the forming of their own lobbying group. Apparently, a collection of “TikTok tastemakers and IG mavens banded together to launch a trade group, the American Influencer Council.” Part of their stated goal is to legitimize influencing as an industry, fund market research into the influencer economy, and build a mentoring program for rising stars.

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Blog

1 Article/Blog
Are You Interested In Getting To The Future . . . FIRST?
Thinkers360
February 03, 2020
If you want to win in today’s highly competitive environment, you need to possess an unwavering and intentional focus on tomorrow. Think about this:

The future is no longer a timeframe; the future is a mindset!

The greatest handicap with the conventional planning process is that it works from today forward and implicitly assumes, whatever the assertions to the contrary, that the future will be more or less like the present. The leading minds know that the future will not be an echo of the present. Getting to the future first requires that you be deliberately farsighted.

One of the acid tests you might reflect upon is – “does our current strategic plan have our firm differentiating itself in some meaningful way, show us doing anything different from the three or four significant competitors in our marketplace; and cause other competitors to see us as a ‘leader’ in some particular niche areas?

Many are satisfied if they can get a handle on their clients’ current needs. But, this is not the answer. You must also think far ahead of the curve. You must lead the pack by anticipating clients’ needs before clients even know those needs exist. Thus, the question is NOT, “how might we better serve our clients?” That is an example of working from what is. To work from what could be, the central question becomes, “What service might we provide that clients are not yet asking for?”

How many of you, as you are reading this, understand the potential influence of Synthetic Biology, or Graphene, or CRISPR Genomics, or Biometrics, or IoT and how any one of these will profoundly affect your future? Your strategy should only be concerned with looking externally, looking to the future, and looking for growth opportunities.

###

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 excerpt comes from Strategy Innovation: Getting to The Future First
(242 Pages, 43,079 Total Readers, Top Countries: US, United Kingdom, Australia, India, Netherlands)

See blog

Tags: Digital Transformation, Innovation, Business Strategy

Opportunities

2 Businesss
Imagine Having Your Own CEO Advisory Board

Location: International    Date Available: September 12th, 2020    Fees: TBD

Submission Date: September 12th, 2020    Service Type: Service Offered

According to one very extensive study “an advisory board brings tangible benefits, such as an external perspective and expert advice. Almost by definition, the board requires a firm to be more reflective and pushes it to build a long-term vision. This leads us to believe that those with advisory boards likely develop greater rigor, and are better able to strategically orient their firms and take the necessary steps to reach their objectives.” I can help you achieve results.

Respond to this opportunity

Non-Executive Director / Advisory Board Member

Location: International    Date Available: May 14th, 2018    Fees: Open to Discussion

Submission Date: May 12th, 2018    Service Type: Service Offered

My experience includes 30+ years of being a strategic and leadership advisor to professional service firms, primarily law, but also including some of the largest international consulting and accounting firms; and to corporate and government legal departments. This work has taken me to 47 different countries. I also proudly serve as a non-executive director (NED) or advisory board member with a variety of professional service firms and incorporated companies. My aim is to instigate innovation, provide independent strategic insight drawn from my years of experience, and support effective governance.

Respond to this opportunity

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Patrick J. McKenna