How often does a potentially powerful competitive weapon come along for the legal profession… and, more importantly, will law firms recognize it when they see it?

Recorded Future, the world's first Temporal Analytics Engine, is a new predictive analysis tool that allows you to visualize the future, past or present.

Start by reading their blog post today Law Firms and Recorded Future.  Then sample their video explanation on their home page. 

My Prediction:  Very few law firms will do an exemplary job of exploring this technology.  Those who do will likely meet considerable resistance internally from those who are slow to trust technology and especially revolutionary technology.  I am completely OK with that. 

What excites me: is that a few law firms that see the true potential of this technology and will use it in imaginative ways.  At Edge International, our core business is helping clients who are committed to achieving competitive advantage.  You can bet we will be exploring this with our clients, and maybe some prospective ones as well.

1.    Ropes & Gray
2.    Williams & Connolly
3.    Morrison & Foerster       
4.    Fitzpatrick
5.    Shook, Hardy & Bacon
6.    Hughes Hubbard & Reed          
7.    Jones Day
8.    Davis Polk
9.    Paul, Weiss
10.  Skadden, Arps

View the entire 2011 Vault Law Firm Quality of Life Rankings.

ROPES & GRAY REPEATS AS BEST LAW FIRM TO WORK FOR; LAW ASSOCIATES AT WILLIAMS & CONNOLLY MOST SATISFIED

Punchline:  CMS Cameron McKenna has 122 Equity Partners and employs over 1,000 fee earners in 10 offices.  They are big enough and influential enough to be a tipping point in their own right.  Those other law firms who ignore Alternative Fees and Value Pricing because "they just won't ever take hold" are in grave danger of playing catch up or even missing the boat altogether.  You don't need your own pricing team today but what you do need is a team within the partnership to start exploring how your firm will enter this game and when (not if).

Thank you to Gavriel Hollander at The Lawyer for the original story

(Please pass this forward to 2 and 3rd year law and lateral candidates.)

According to Claude Sheer, CEO of Vault.com., “The Vault/MCCA Legal Diversity Career Fair will offer a hands-on insider’s perspective of the progress that top firms are making to increase diversity and to advise minority, women and GLBT law students and associates on their legal career options.”

“MCCA is delighted to partner with Vault to offer this wonderful opportunity for organizations seeking to attract talented, diverse candidates and underscore their commitment to building more inclusive workplaces,” said Veta Richardson, Executive Director of MCCA.  “We are enthused that in the midst of a recovering economy, there is such enthusiasm around reaching out to highly-qualified, diverse talent.”

The Vault/MCCA Legal Diversity Career Fair will take place from 8 a.m. to 4 p.m., with representatives of over 30 legal employers available to meet with candidates.  The event will kick off with a special breakfast where Vault will unveil its 2011 Law Firm Diversity Rankings, the result of its annual Law Firm Associate Survey.

Earlier this year, more than 15,000 law firm associates rated their employers on a variety of issues, including diversity with respect to minority, women and GLBT attorneys.  Vault representatives will be on hand to reveal these diversity rankings and honor the Top 20 law firms who were the most highly rated by their own associates for their commitment to hiring, retaining and promoting diverse attorneys.

“Vault’s diversity rankings are unique in that it is the law firm associates themselves who rate their employer’s commitment to a diverse and inclusive workplace.  Lawyers are a tough crowd; these firms have cleared a high bar,” noted Brian Dalton, Managing Editor at Vault.com.  “According to its own associates, the top firm ‘treats diversity as a priority’ and ‘is not simply following a trend’—and this is reflected in our rankings.”

Following breakfast, candidates will have the opportunity to meet and present their resumes to hiring partners and recruiters from top law firms, government agencies, and corporate law departments during recruiting hall hours, before and after lunch.  The career fair is designed for minority, female, GLBT, and candidates with disabilities.

In the midst of networking, candidates will have the opportunity to recharge during a keynote lunch featuring Carolyn B. Lamm, President of the American Bar Association.  President Lamm was named one of the 50 Most Influential Women in America by The National Law Journal in 2007 and one of Washington's Top 30 Lawyers by Washingtonian magazine in 2009.  She has worked tirelessly to ensure equal opportunities in law and will speak about her efforts, goals and outlook for the future of diversity in the legal profession.

Morgan Lewis is the Platinum Sponsor for the Legal Diversity Career Fair and lunch.  “As we gear up for entry-level hiring, sponsoring the Vault/MCCA Legal Diversity Career Fair is one of the ways we will continue to make diversity a priority at Morgan Lewis,” said Firm Chair Francis M. Milone. “Our goal is to attract entry level lawyers from diverse backgrounds who have the skills our clients most value, including hard work, responsiveness, problem solving ability, and a commitment to teamwork.”

The event will also offer opportunities for job seekers to obtain resume and cover letter review and advice from Vault Career Experts and access computer terminals to view Vault's Career Insider and Vault/MCCA Law Firm Diversity Database, a fully-searchable online tool featuring comprehensive data on diversity performance at nearly 300 law firms nationwide.  Registration is still open at http://www.vault.com/legaldiversity.

Greg George, Managing Partner of top security firm GTI Advisors Threat Management Practice Group has created a comprehensive due diligence report — among his many recommendations, he suggests that businesses consult a law firm  - is your law firm ready to answer that call?  SECURITY may be a lucrative future-oriented practice area awaiting your firm.

I recommend:

1)  Check out GTI Advisors Threat Management Practice Group

2)  Download (free) and read Beyond Due Diligence

3) Note the section "Qualified Legal Counsel Is Worth Every Penny" on page 18.

4) Discuss this in your firm and explore an appropriate strategy before you are left in the dust by forward thinking firms that will.

Footnote: Determine if you are the cobbler with no shoes (when it comes to security) — perhaps your law firm could use a few of the amazing ideas in this document as well.

Note:  For international clients, this piece is clearly written for American audiences but I believe the vast majority of the content will be useful regardless of your location.

Enjoy, and better yet have your associates look at this.

Compensation has been the tool of choice in law firms to reward good performance, punish the absence of it and drive change.

You will not want to believe what you are about to hear and see…  ask yourself why?

If you are enlightened, gather your management team and start thinking about how to harness the learnings to create peak performance and lower turnover in your firm.

Appreciation is not assumed — it has to be communicated…  if you think your clients know you appreciate them, ask your self "how would they"…  Make it explicit and you'll separate yourself from the masses !

I’ve witnessed first- hand increases per participant ranging from hundreds of thousands of dollars to millions of dollars.

Download this article (or read on line) with my compliments. (Click on image)

So says that wonderful blog: Neuromarketing: Where Brain Science and Marketing Meet in a post called: Heat Up Sales – With Coffee!

After years of experience,  we tend to trust our judgment but good old research can offer a competitive advantage, if we pay attention.

Many of your competitors will either not know about this research or think its balderdash (and continue to offer those cold drinks). 

Punchline: Perhaps "Can I get you a beverage" should be replaced by: "How do you take your coffee?

What do you think?  More importantly, what will you do?

We are very proud of our latest Edge International Review.    For a complete downloadable version (or just the articles you want) click on the cover or go to EdgeInternationalReview.com

If you have any questions , comments or suggestions, please shoot me a note.

(You can also check out our Edge International web site at Edge-International.com)

The report contains:

• 115 pages of detailed factual competitive intelligence
• 126 charts, graphs and illustrations
• 8 States and 10 Metropolitan Areas
• Information on 215 law offices

Cities included:

• Chicago
• Milwaukee
• Detroit
• Indianapolis
• Cincinnati
• Minneapolis
• Columbus
• Buffalo
• Cleveland
• Pittsburgh

I think this is a fantastic deal.  If your firm tried to pull this together on your own, you’d spent months and tens of thousands worth of time doing your due diligence which would include analyzing the firms, clients and economics of the region.  I expected the price would be around $7,500 but it offered at $2,995

I was also impressed by the Guarantee of Satisfaction - if your firm is disappointed (you won't be) you can pull the trigger on the guarantee.

For many leaders, the most important and imponderable question relates to the timing of the recovery — one of the elements of this report is

• “Prognosis for timing and extent of legal market economic recovery”

My enthusiasm for The “2010 Legal Market Analysis Great Lakes Region” is based on these simple premises:

1. The team that created it has many decades of law firm experience
2. The sources of data are impeccable
3. Ed Wesemann (architect of this publication) is a truly gifted analyst and law specialist

The downloadable prospectus including full Table of Contents will give you an idea as to how well organized this work is.

At the very least, this analysis is an important reality check.  Many firms have skewed views of their own markets based on prejudices or outdated data that tends to stick in the minds of firm leaders.

Here is an excerpt from the free  downloadable prospectus showing the nature of the contents of the report:

A detailed competitive analysis for each city providing:

• Comparative reputation within the specific legal market
• Detailed descriptions of competitive situations
• 2010 depth counts of lawyers in the local office and firm-wide

An accurate and up-to-date economic analysis of each metro area including:

• Projections of the growth of key drivers that affect the legal market
• Prognosis for timing and extent of legal market economic recovery
• 2010 Assessment of stability of leading industries and top employers

Assessment of demographic, businesses and market data for each state and metro area including:

• Size of legal markets
• Business friendliness, job growth, cost of doing business and other important indicators
• Strength, Weakness, Opportunity and Threat (SWOT) Analysis for large firm legal practice in each metro area

Download the prospectus and see for yourself.

Note:  I know the people behind this initiative very well but want to make it clear that I have absolutely no financial interest in their venture — I am posting this based on receiving a review copy. I believe this is an extraordinary offering and far more valuable than its price would reflect.




    

   
 

Friday, January 22, 2010  Noon EST

The Shifting World of Associates: Making Sense of New Models

Range of Topics:

Identifying the drivers of the shift in current associate models
Trends in client demands and law firm reactions
Models other firms have adopted or are considering
Risks and issues related to each model
Key indicators a firm should change…or not
Building buy-in within the firm for a new model
Keeping associates motivated and engaged throughout the process

Our Distinguished vPanelists:

Phil Donnelly, Chief People Officer, White & Case, London, UK
Liz Price, Professional Personnel Partner, Alston & Bird, Atlanta, GA
Gerry Riskin, Edge International
Pam Woldow, Principal, Altman-Weil, Newtown Square, PA

vModerator:

Paul Trout, CEO, Shift Worldwide, Chicago, IL
Schedule (all times in EST):

11:45 a.m. – Noon: Log on to vPanel
Noon – 12:05 p.m.: Introduction of vPanelists
12:05 p.m. – 1:00 p.m.: vPanel Discussion
1:00 p.m. - 1:30 p.m.: Interactive Q&A session

(Fee Required) Registration

You do not need a web cam to participate in the vPanel.

Nearly three decades ago, in the early days of Edge International, there was only one writer in the area of managing a professional firm that commanded our unqualified respect and attention. That was David Maister.

“Managing the Professional Services Firm” is the Bible, according to many leaders of some of the largest professional service firms in the world. “True Professionals” spoke to the firms for whom dignity and quality service were the engines of success. And he wrote so much more in collaborations and articles.

In Edge, we were lucky enough to find ourselves presenting at a few conferences in common with David, in various places around the world and one day ended up having a very private informal retreat. This led to the creation of PracticeCoach®, an extraordinarily comprehensive video-based resource to help law firm leaders around the world. It stars David.  What a joy it was to create with him.

His philosophy was so in harmony with ours.  For example, we loved his guarantee of satisfaction (and were proud that we offered one as well even before we knew he did).

There were some very cool things I learned from David:

• David loves his wife, Kathy, with such passion and always treats her as his trusted advisor and coach. (She's the Guru's Guru.) With Kathy, David taught my wife, Bethany, and me how to travel for weeks internationally without checking luggage. “IMPOSSIBLE!” we said standing on the curb in front of their place one morning with four huge suitcases’s while David and Kathy had their little rollers behind them. “You just need to learn how to pack properly…” they replied, and during our next visit we got the tutorial. (Actually, David and Kathy, if you wrote a book based on that tutorial….) Bethany and I owe David and Kathy the moon for that advice.

• David exemplifies passion. He loves his wife and his music collection which is of a magnitude that makes it the 8th wonder of the world…and he’ll sing till dawn. :-)

• David has energized audience after audience…forcing thought about important issues and even more importantly, sometimes with the help of voting machines, making them actually decide on things.

I am not surprised by the awards and accolades* he has received… just delighted.

The good news is that this is not a eulogy (even if it sounds like one). David and Kathy’s infectious smiles will remain available to us for many many happy years to come.

If there is a sad note in this homage, it is that David's retirement represents a loss to my beloved legal profession and all the other professions he served so well.  However, his books and programs live on. As I write this, I am helping a prominent South American firm to use the study in his book, “Practice What You Preach,” to help them analyze and choose the most fruitful areas of focus for their continued improvement.

Maybe David’s and Kathy's retirements will be like some famous souls who preceded them who were coaxed back into the game for an important gig or two.

By the way, Kathy retired from one of the most incredible video enhanced blogs in history: startcooking.com where you can still experience valuable lessons - check it out !  This is not an amateur undertaking - you will find broadcast-quality production values.

David and Kathy, Bethany and I treasure you and I know if we gathered those of like mind we’d need a mighty big arena.

Retire in good health!! Well earned - BRAVO!

*awards and accolades

Nicole Auerbach is one of the adventurous Big Firm refugees that founded Valorem, a genuine "Alternative Billing Arrangements" firm.  Here's a quote from Nicole's bio:

The billable hour is an antiquated, inefficient and a potentially unethical measure of value provided.

To be named one of the Top 50 Women Lawyers in Illinois in the 2010 edition of Illinois Super Lawyers, Nicole was evaluated on 12 indicators of peer recognition and professional achievement, including verdicts, settlements, representative clients, honors and awards, and other achievements. 

So the quality of the best alternate fee firm is unassailable and Nicole's objective recognition makes her a safe choice in addition to being a wise choice.

BRAVO Nicole - BRAVO Valorem !

Disclosure:  I proudly sit on Valorem's Advisory Board because I believe in what the firm is trying to achieve.

(The video is 8 minutes - watch at least the first full minute then more if it grabs you)

Law firm leaders

You don't need to embrace social media or love technology or even be a gadget freak to have a peak at how we'll all read magazines and papers soon… I thought a second reason to show you this was to have you think about the publications your firm produces from articles to brochures.

I am not suggesting you blaze the trail but you had better have your design team monitor the progress of this technology and make it available to you as soon as it is affordable.

Gerry

PS  I will be asking our own team to look hard at this for future versions or our Edge International Review which will be published soon.

SOURCE: Digital Magazines: Bonnier Mag+ Prototype excerpt:

This conceptual video is a corporate collaborative research project initiated by Bonnier R&D into the experience of reading magazines on handheld digital devices. It illustrates one possible vision for digital magazines in the near future, presented by our design partners at BERG.

So, law firm leaders, as you think about excellence in 2010, enjoy this message delivered by one of my heroes, Tom Peters (in under 2 minutes).

I hope you'll take hours to reflect on its meaning in your context.

Gerry

PS  If you have partners who won't look at the video , here's a transcript

May this New Year bring you peace, joy and prosperity…

Take a few moments at the beginning of your next (executive, practice group, industry group, client team) meeting and watch this piece from Australia's George and Margaret Beaton (Beaton research and Consulting).  They have been friends for a long time and not only built an amazing high end consultancy but have done it with panache and imagination.  You will see some data that will act as a catalyst for the thinking of your leadership team.

Enjoy:  The Big (Legal) Picture video

Punchline:  The legal Profession absolutely refuses to stay the same so don't let your partners treat it like it will.

Pat Lamb's added this commentary at his awesome Blog,  In Search of Perfect Client Service:   You'll like irrelevance even less

This is a private password protected copy of my Social Media slides for the Social Media Presentation to the LPM (Law Practice Management) Section of the American Bar Association in St. Maarten on Oct 19, 2009.  Those in attendance can obtain the password from Tom Grella.

Many thanks

Download Here