LMA’s P3 – The Practice Innovation Conference brings together legal marketers to discuss project management, pricing and process improvement. The thought-provoking sessions and conversations generated in the hallways is a reflection of the subject’s increased popularity.
This year’s P3 Conference takes place June 12-14 in Chicago. Following Wednesday’s pre-conference sessions — including a sold out pricing masterclass from Kevin Doolan — P3 2019 kicked off on Thursday with a keynote address from Dr. Arin N. Reeves, president and managing director at Nextions.
Dr. Reeves presented, “Inclusive Intelligence: Recognizing & Interrupting Implicit Bias in the Legal Industry.” About 80% of our daily processes are unconscious, meaning it takes that much more effort to overcome biases. According to Dr. Reeves, the six traits needed for inclusive intelligence are cognizance, curiosity, cultural intelligence, collaboration, commitment and courage.
But these traits are just one piece of the puzzle. Dr. Reeves shared a number of actions legal marketers can bring back to their firms, including (but not limited to):
- Seek and embrace productive disagreement. Coming to a consensus is not conducive for decision making. It creates false agreement and adoption of the idea will fall by 50%. Everyone’s ideas should be heard and valued, with no “winners” or “losers” on either side.
- Think of new inclusive habits as experiments and not permanent changes. Humans are change-averse, but positioning change as an experiment bypasses the part of the brain that thinks in terms of winning and losing.
- For challenging conversations, choose walking over sitting still. The minute we see someone, unconscious reactions are triggered. Studies show unconscious bias goes away when walking with someone and not looking at them directly.
After Dr. Reeves’s address, P3 was in full swing. Highlights from the day's education include:
- To transform a firm’s culture from revenue to profit, you need data and evidence. Start measuring matters and practices. What you think is good for the firm may not be in reality. (Fireside Chat: Moving the Needle on the Pricing Maturity Model)
- More law firms are using technology to deliver legal services more efficiently (but just barely). Law firms need to let clients know what they are doing. Let them know how your efforts are helping their bottom line. (The Annual Law Department Operations Survey: Decoding a Decade of Data to Map the LDO Journey)
- Invest in good market data and participate in surveys. Define and understand your competitive landscape and follow the data. (Putting Your Market Data to Work)
- Law firms will continue to consolidate. Small- to middle-market firms may be posed for the greatest growth opportunities. (Valeo Partners: Is the Past Prologue? The Next 10 Years)
- A tip for success: Understand the process first. “Process improvement has this magical ability to bring people together to solve problems creatively. If you set the right stage, you have the ability to have everyone be really invested in the answer.” —Steven Smith, WilmerHale (Harnessing OCGs: Using Process Improvement to Create a Holistic Risk Management Approach)
- Data itself is not the holy grail. What questions do you want to answer? What data is available? What is the quality of the data? Would machine learning, statistics or visualization help to get the insight? (Clocktimizer: Pricing and Profitability Insights From Working With the Global Top 100)
- The collaborative solution for practical innovation includes: fixed annual portfolio fee (scoping and regular reviews), next-gen intake process (process-driven, expert system/workflow, extended into client side, with a dedicated LPM resource), use of alternative staffing (with client alignment). (Collaborating to Get to Practical Innovation: A Client/Law Firm Case Study)
- Legal marketers can benefit from recognizing the potential for natural language processing and artificial intelligence technologies to improve the quantity and quality of profiling data. Explore the impact that enhanced profile data can have on pricing, business development and client service efforts. (Using AI to Automatically Profile Prior Work to Support Pricing, Staffing and Business Development)
- Our natural instinct is to find our weaknesses and improve. But when we work to our strengths, our ability to accelerate our development is exponentially better. You’re more likely to enjoy the task and improve upon it. Your odds are greater for success. (Using Talent Analytics to Build Better Teams and Overcome the Barriers to Change and Innovation)
- The Rogers Diffusion Curve demonstrates the process of innovation: Innovators >> Early Adopters >> Early Majority >> Late Majority >> Laggards. Innovators and early adopters do the work, and the rest follow. (The Science of Innovation Adoption: Legal Industry Examples)
- Look to hire LPM professionals who have soft skills, are analytical and have a sales mindset. (The Right Service at the Right Price (Salary): Understanding How Law Firm Pricing Departments are Structured and Compensated)
- Think about the experience you have at Disney or Starbucks (online vs. in person seamless and well thought out). This sets expectations for how we interact with other companies (i.e. not in a vacuum) and ultimately crosses into the law firm (a liquid expectation). Law firms don’t need to be Disney or Starbucks, but should be moving in direction. (Digital Strategy in Law: Setting the Foundation)
- “Not all analytics are the same. You need to be able to look very specifically at a granular level.” —Mike Kramer, Lex Machina (The Future of Law: How Legal Analytics Are Transforming the Business and Practice of Law, Lex Machina Service Provider Demo)
- Are you part of an Information Culture? Characteristics include: open access to data, analytical mindset across the firm, culture oriented vs. project oriented, agility and ability to take advantage of opportunities, and strengthen perspectives. (Demo: Informed Strategic Pricing: Understanding the Intersection of Information and Pricing)
- The legal department perception of value received from law firms is increasing. The average satisfaction rating of value for money has increased 9% over the last five years. [Source: Acritas SharpLegal US] (Partnering with a Client’s Net-New Legal Operations Team (CLOC))
Our brains are hardwired for a fight. To overcome bias:— Cynthia Voth (@CynthiaVoth) June 13, 2019
1. Shift from tolerating differences to seeking and embracing them.
2. Shift from individual knowledge to collective intelligence.
3. Shift from right vs. wrong thinking to accepting multiple rights. #LMAP3 @NextionsLLC
#Disney is reshaping the customer experience by using bands that have hotel key, credit cards and everything you need on the band. Legal should be asking how we can create that kind of experience for our clients. #LMAP3 pic.twitter.com/bL94s8W9z4— Sheri Palomaki Tyler (@sheripalomaki) June 13, 2019
Congratulations to our newest certified White Belts in process improvement and project management. Thanks to our participants for attending & to @LMAintl for the opportunity to collaborate and present at the #lmap3 conference. @CathMacDonagh @lawmgtguru pic.twitter.com/zkJiNYJQRi— LegalLeanSigma (@LegalLeanSigma) June 13, 2019
The education and lessons learned from today’s session is just the tip of the iceberg. Full session recordings will be available for purchase in the coming weeks in LMA’s Learning Store.