stevesm.jpg Steve Matthews, of “Vancouver Law Librarian Blog” fame, titled his post today: Kay, MacEwan & Riskin on KM ROI (Knowledge Management — Return on Investment). Steve summarizes comments made by Stuart Kay from Baker & McKenzie, Australia, Bruce MacEwan, known in the blogosphere as Adam Smith Esq., yours truly, with an honorable mention of David Maister. I do not want to do Steve Matthews a disservice by trying to further summarize the already superb summary in his post so I will let it speak for itself. A tangental point: As far as “Kay, MacEwan & Riskin” is concerned, that is the beauty of the blogosphere. We can collaborate, learn from each other and come together in any combination or permutation in an instant… everyone/anyone can. For now, you can experience Kay, MacEwan, Maister Matthews & Riskin (alphabetical order) at Steve’s post — I think that is very cool — do you?

golfsunset-1.jpg Here’s the punch line of the question (position) posed to David Maister at his web site:

[Knowledge Management] in fact is an iffy investment … long term investments… are not necessarily the right thing to do… Putting the cash into image, marketing and golf may pay off more… (JH of CT)

sizeD50_hFliped.jpg David couldn’t believe it! He begins his reply:

“It is hard to believe I have just read the conclusion as written here”

You can see his entire well reasoned response on his web site (IS IT ALWAYS WORTH IMPROVING? (scroll down to it)). The questioner also opined:

If the firm thinks client demand is inelastic — lowering prices won’t increase volume enough to make up the revenue loss — then KM is a net loss (although societally valuable). If the lawyers don’t have to work as many hours to turn out a contract, then they have to bring in even more business by taking it from other firms.

Here are my questions of you, reader: Do you agree with JH’s views? (Do you think lowering your cost is self-defeating?) Do you think that reference to “elasticity” proves JH is not a lawyer? Why do you think people hold these peculiar views? Where do you think competitive advantage resides?

Here are some of the participant comments: images-8.jpg

[This is] where the theoretical meets the practical. Could not have spent the two days doing anything better on behalf of my firm. A must for any new or experienced managing partner. The small group interactive format was great. Very useful program filled with practical, ‘how to’ tips. An A-Z of those issues that every managing partner will confront during his or her tenure. The vision is reflected right in the firm’s name – Edge. The tremendous competitive advantage that comes from slight improvements in important areas is something that should appeal to every law firm. Once you attend, they deliver. The dialogue among managing partners at similarly situated firms promoted invaluable, otherwise inaccessible, information. Edge International representatives led insightful and provocative discussions.

Our MP Boot Camps are not advertised and enrolment is restricted to ensure that participants at each two-day event have an opportunity to fully participate and learn from each other as well as our faculty. If you are a Managing Partner and interested in a future session, please let me know. (Sessions are held several times a year and are organized by firm size so those in attendance can relate to each other’s challenges.)

Diversity consultant Jacob H. Herring, President and CEO of Creative Culture Changes, LLC, argues that the diversity “movement” has been growing, not only in numbers, but, in intensity. He indeed warns:

Who knows what the next Bill Gates will look like. Such a person may not look at all like the current Mr. Gates: e.g., that person maybe an immigrant woman of color.

jacobpic.jpg Mr. Herring issues this challenge:

Do you trust that your partners are aware enough of their own feelings and prejudices to: 1. Keep you and the firm out of trouble (e.g., avoid a discrimination suit at worst, or not lose an important business opportunity, at best) 2. Maximize business opportunities (e.g., spot talent and business potential of people different from themselves who haven’t, yet, actualized their full potential).

PunchLine: Mr. Herring is precisely correct and those firms who don’t pay some attention to their diversity will be the truly disadvantaged ones. Read the full article at PM Forum USA: Recruiting and Marketing Effectively with a Diverse Workforce

newlogoheader_short.jpg I am honoured to be particpating in the upcoming MBL Seminar on the topic of Reputational Management in London on October 20th. Presenting with me will be Sue Stapely of London and Larry Smith of levick Strategic Communications in the USA. In today’s “media jungle” ill-prepared law firms are vulnerable to unanticipated newsworthy events. Everybody present will learn from this highly interactive session — including me.

On Moday September 26th, Steven Matthews posed some questions in his post: Legal KM Economics & Realization Rates (Some Questions…) stevesm.jpgSteven Matthews is the Knowledge Services Director at the Vancouver law firm Clark Wilson LLP. In this role, Steve combines his skills as a web developer with the administration of the Law Library and KM initiatives within the firm. From conceptualization to coding the final product, Steve has been responsible for all Clark Wilson LLP Intranets and public websites since 1998. sizeD50_hFliped.jpgDavid Maister’s response is captured in Steven’s subsequent post: David Maister Speaks and I’m Listening! David Maister calls it

[getting] sucked into a very old “short-term impact v. long-term impact” debate.

…and is unassailably correct when he argues:

Is it ever worth getting more efficient than your competitors? The answer must be yes, surely?

FastForward: So why do we have these interminable debates? Because law firms strip mine — taking as much as possible for today. Few trust how revenue will be distributed tomorrow. The same attitude reduces a good deal of the long term investing that would yield competitive advantage over time.

Deneys Reitz is a top South African law firm that thinks as much about others as it does about itself. I had the privilege of helping this great firm through a retreat last weekend at The Castle Kyalami near Johannesburg. castle-09.jpg Deneys Reitz has gained strength in numbers and in practices under the leadership of its very able Chairman, Michael Hart. The business program was his brainchild as the issues before the firm were discussed by randomly selected break out groups from across the firm’s offices in South Africa. Facilitators gave punchy 4 minute reports that the firm could then discuss in the plenary. Michael_Hart_intranet_small.JPG.jpgMichael Hart After capably exploring options for the future, but before concluding the retreat, the firm made time to hear from one of its own, Director, Patrick Bracher, who explored with his fellow Directors how the firm might breathe more life and focus into its social responsibility to its communities. He proposed increasing the firm’s already sizable charitable contributions and the exploration of special charitable projects that Deneys Reitz could use its considerable talents to coordinate thereby involving others and dramatically leveraging the impact of its philanthropy. Patrick_Bracher_small.jpgPatrick Bracher I was moved to see that this firm made time on its already busy agenda (and even delayed its concluding time on day two), not for itself, but for others… others who may ultimately be beneficiaries of the firm’s generosity but who likely will never know about the depth of effort behind it. All I want to say about it is: “Bravo, Deneys Reitz”.

I know that ideas from outside the legal profession are suspect — and for good reason — you have been disappointed so many times before by concepts that simply don’t apply — so why waste your time. jjantsch.jpg John Jantsch from Duct Tape Marketing What if this is true (and, by the way, it is): “If you expect your clients to be thrilled with your services – they will” “If you flat out expect your clients to refer business your way – they will…” “…Have you ever found yourself so excited about a … service that people [retained] you because they almost had to?” PUNCH LINE: Many professionals do not believe in the value of their services nor do they get sufficiently enthused by them. That’s just plain wrong. The reason is that professionals have trouble seeing and quantifying the value. Quantum Mechanics Physics will not let you down. Humour me — read (and re-read) this Duct Tape Marketing post called “The Power of Positive Expectancy” by John Jantsch. Suspend the cynicism and reflect.