Your law firm’s success in 2012 may require considerable ingenuity under extreme pressure just as it did from the crew of Apollo 13 for their safe return to Earth.
Apollo 13 was the third mission in the American Apollo space program intended to land on the Moon. The number 2 oxygen tank in the Service Module exploded en route to the Moon, approximately 200,000 miles (320,000 km) from Earth. The developing drama was shown on television and depicted in the Apollo 13 movie based on the mission.
If you saw the movie, you may recall that the head of Mission Control assembled a team in a conference room and requested that the materials available to the astronauts in the Service Module be brought to the room because they had but a few hours to learn how to make oxygen to save the astronauts’ lives.
By contrast, when the senior leadership team in most law firms meets to explore strategy, there is no sense of urgency. Worse, after extraordinarily bright people come up with some amazing plans, in most firms they are doomed to atrophy due to a lack of execution.
As you consider 2012, I recommend that you:
Take off the rose colored glasses… the apparent good economic news is at best an exercise in extreme optimism and at worst the willful concealment of the truth
Clients have tasted economic power in the lawyer/client relationship and they are not going to give it up. In fact, if you are not exploring legal process management (LPM) in harmony with some of your most important clients, your firm is headed for rough seas.
Make your plans as if they were a matter of life and death because they very well may be. In today’s perilous times, your firm’s fate may be as precarious as that of the 3 astronauts when the oxygen tank exploded.
I confess that I have framed this in a slightly melodramatic way in order to be provocative. The serious lesson I ask you to take from this is that your plans need a deadline and they must be executed as if life itself dependent upon them. That is why in Edge, we make no apology for being obsessed with action.
I received this correspondence from Hoshedar Wadia, a partner in one of India’s most sophisticated law firms, Juris Corp. This firm deals in matters that range up to the hundreds of millions of US dollars in sophisticated areas like Capital Markets, Structured Finance, Securitization and so on. In the spirit of disclosure, I have had the privilege of serving this firm. Do you believe the protocol contained in the following correspondence could serve your firm as well?
"We just shared something with our new recruits as part of their orientation and I thought I would drop you a line cause you have used examples like this very effectively in the past with us.
"There is a game ‘Angry Birds’ that I have on my mobile that is available for PC download as well.
"You have to shoot birds at structures (and at a pig) and make points to go to the next level. Each level is tougher and there seem to be an unlimited number of levels. At each level, you can try any number of times. But in the version available on my phone, after 2 attempts (and failures), it asks me if I want to connect to the internet and see how it is done (on you tube). If you view the link, the task suddenly becomes easier (not easy – but significantly easier).
"Message:
"Like angry birds, in Juris Corp too:
"(i) Please try for yourself to get the results – try once try twice but if you don’t get it by then then seek help (ego and stubbornness have little place in a knowledge-based industry);
"(ii) The reason you must try yourself is because you may come up with a better way of doing something than the internet or ‘online help’ version will show you;
"(iii) The reason you must take help after a few tries is because you owe the Firm and the Client, if any, (a) a quick turnaround (so it is not acceptable that you try and try and try till you succeed); (b) best costs (which means you don’t re-invent) – but always subject to you trying first on your own (the reason you are in Juris Corp is because somebody believes you may find a better way);
"(iv) Look at the online version/precedents, even if you succeed – to see if it could have been done better?
(v) Learn and adapt – the higher levels will always require you to draw from what you have learnt at the lower levels."
Punchline: Too many partners throw their associates to the research and protocol winds with a sink or swim attitude. This policy deprives both associates and clients of what they deserve. I think Juris Corp has it right and I am grateful to my friend, Hoshedar Wadia (Juris Corp partner), for granting me permission to share this with you.
All of the Managing Partners with whom I work are devoured by their "multitasking work environments". "Recovering from information overload" (McKinsey Quarterly, January 2011) authors Derek Dean and Caroline Webb have succinctly laid out their take on the problems and solutions:
Problems (multitasking):
slows us down,
hampers creativity and
makes us anxious and it’s addictive)
Solutions (Coping with the deluge):
Focus,
Filter and
Forget
Perhaps the most valuable part of the article lies in an exploration of how to hit the "reset button".
If you are the Managing Partner (or have any leadership responsibilities in your firm) I suggest you read this article twice, once to assimilate it and next to make your action plan for the parts or pieces you want to implement. Download the PDF or read online.
If you catch yourself making a promise that's been made before, stop. Don't spend a lot of time and effort building credibility with this sort of promising, because it doesn't pay off.
Make different promises, or even better, do, don't say.
Law firm leaders, if you don't know who Seth Godin is, subscribe to his blog and/or read his books. He offers a perspective that you won't get at bar association meetings.
September 24th, 2010
ADR Institute of Canada National Conference September 23-24, 2010
Plenary Session: Optimal Marketing for ADR professionals
Workshop: Effective Marketing for ADR professionals Calgary, Alberta
OCTOBER 2010
October 9th, 2010
Fordham Law School (for Prof Silvia Hodges)
Guest Lecture: Law firm management: Strategy New York, New York
October 14th, 2010
(with Nicole Auerbach a— Valorem Lw Firm))
Making Alternative Fees Work in Litigation: How to Approach and Craft AFAs
Virtual Program… webinar: Find out how to incorporate AFAs for your litigation matters, and how to avoid the many pitfalls that can arise along the way in this information-packed audio conference. During this 75-minute program, our expert faculty will present best practices for approaching, crafting and implementing these highly sought-after engagements. Information & Registration
October 22, 2010
ALPMA summit
Keynote address: Finding Success in a Global Paradox Sydney, Australia Information & Registration
NOVEMBER 2010
November 4th, 2010
Chief Legal Officer Forum, Public Sector Auckland, New Zealand
November 5th - 7th, 2010
Plenary Session: Future Firm Forum 2010
The Management Imperative Tongariro Lodge at the south end of Lake Taupo, on the North Island of New Zealand Information & Registration
November 11th - 14th, 2010
(with Edge partner, Juhi Garg
GROWTH STRATEGIES 2015
LAWASIA 2010 Conference
The session will describe how Asian law firms can prepare for a flourishing economy including strategies and processes required to fuel growth both organically and inorganically. New Delhi, India More Information
My Edge International partner, Jordan Furlong, has done a nice welcome piece on Pam Woldow already (at his Law 21 blog) but I thought I would echo that Edge International is so very proud and delighted to have her on board.
Also, thank you to friends who have joined us in congratulating Pam, like Valorem's awesome founder, Pat Lamb, who expressed delight in his In Search or Perfect Client Service blog post.
Those of you who know Edge International well can be assured that we are intent on growing in strength and capabilities.
Please make sure you follow Pam's new Blog, At The Intersection, for her continuing wisdom and counsel.