Do you know the biggest mistake that many law firms are making today? Today, more than ever, prospects are searching for subject matter experts and trusted advisors to help solve their problems. So, to be successful, it takes focus, specialization, recognition and authority to stand-out in an overcrowded, highly competitive legal market with risk-avoiding, impatient buyers who can find numerous alternative providers in short order. In other words, you need to have a deep understanding of the critical business challenges, speak the language and have experience in solving the pain points of your targeted clients – most effectively by way of having first-hand industry knowledge.”
International recognized thought leader Patrick J. McKenna shows in his new book Industry Specialization - Making competitors irrelevant exactly what do do, what not to do, how to think, and how to change. With research evidence, and first hand experience, he guides you through the process, shows you the pitfalls and offer solutions. And the best of all, he again has agreed to share this book with readers of Legal Business World at no cost.
The book will guide you in:
the 12 best diagnostic questions to evaluate whether you have a genuine industry focus;
steps to take to form a new industry group;
the best ways to have your people explore any industry’s revenue and growth potential;
7 steps to take to make your industry group efforts worthwhile;
common failings that clients observe and discuss amongst themselves;
4 different kinds of meetings capable of producing high performance with your industry group;
12 actions to position yourselves as recognized industry thought leaders;
10 actions to effectively monitor industry trends;
what to do if a chosen industry initiative falters;
how to utilize sales professionals in representing your industry team to the marketplace;
how to develop a truly multidisciplinary industry team;
AND so much more.
What Leaders say after reading it
“It is very positive to see something written exploring the imperative to move to an “industry first” approach and the related challenges.” Beth Wilson, Canada Chief Executive Officer at DENTONS CANADA LLP
“Your content is absolutely on point and reflects much of our experience over the past 8 years after we aligned our firm into industry business units" (with full P&L responsibility). Paul Eberle, Chief Executive at HUSCH BLACKWELL LLP
“Congratulations on writing an informative, engaging and practical resource!.” Chris Boyd, Chief Operating Officer at WILSON SONSINI GOODRICH & ROSATI
"This is an excellent guide about how to manage, refine and improve already existing industry groups and it makes a great case for having an industry focus.”Gary Sasso, President & CEO at CARLTON FIELDS
“I enjoyed the book. It reminded me of the “One Minute Manager” for law firm industry groups. Hopefully as successful!.” James G. Perkins, Ph.D., Chief Operating Officer at PROCOPIO
“The tone and directness really appealed to me. “Do this, don’t do that. Think about this, don’t forget that” is exactly what is needed and can only come from years and years and the many firms you have seen succeed or fail. No shortcuts, no magic wands but a logical, sustained and committed approach is what’s called for.”Gillian Ward, Global Chief Marketing Officer at BRYAN CAVE LEIGHTON PAISNER
The book is available in our eBook library; or click the buttons to read it
About Patrick J. McKenna
Patrick is an internationally recognized author, lecturer, strategist and seasoned advisor to the leaders of premier law firms; having had the honor of working with at least one of the largest firms in over a dozen different countries.
He is the author/co-author of 11 books most notably his international business best seller, First Among Equals (co-authored with David Maister), currently in its sixth printing and translated into nine languages. His two newest e-books, The Art of Leadership Succession and Strategy Innovation: Getting to The Future First (Legal Business World Publishing)) were released in 2019 and read/downloaded in over 40 countries. McKenna’s published articles have appeared in over 50 leading professional journals, newsletters, and online sources; and his work has been featured in Fast Company, Harvard Business Review, Forbes, Business Week, The Globe and Mail, The Economist, Investor’s Business Daily and The Financial Times. He currently serves as Contributing Editor to Of Counsel: The Legal Practice and Management Report (New York).
McKenna serves on a number of corporate advisory boards including Intraspexion Inc. (AI legal tech); LBW Broadcasting (international media); True Balanace Longevity Institute (health care); Alterity ADR (dispute resolution); and is a BrainTrust Member of Quantumrun, a global research and futurists group. He was acknowledged in 2020 as one of the Top 20 Global Thought Leaders on Business Strategy (Thinkers360).