The Intelligence Collaborative
http://IntelCollab.com #IntelCollab
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How Competitive Intelligence
Helps Professio...
The Intelligence Collaborative
http://IntelCollab.com #IntelCollab
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Ann Lee Gibson advises law firms on competit...
The Intelligence Collaborative
http://IntelCollab.com #IntelCollab
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α Use the Questions panel on your
GoToWebina...
The Intelligence Collaborative
http://IntelCollab.com #IntelCollab
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Agenda
1. Overview of professional services ...
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Professional
Services
Industries
Legal Engin...
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100 Largest US Accounting Firms
Source: Acco...
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PS Firms Differ from Other Enterprises
1. Ow...
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Chapter 6 – Attributes Peculiar to the Legal...
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http://www.dni.gov/index.php/about/organizat...
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Individual Empowerment
Nexus of Food, Water ...
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Generational Transition in Professional Serv...
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Global 2030 Game Changers
1. Crisis-prone gl...
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New Stressors on PS Firms
New Technologies
1...
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Challenges for CI Workers in PS Firms
Work c...
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How to Add Value and Advance in PS Firms
1. ...
The Intelligence Collaborative
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How to Minimize “Hey You!” Assignments
1. Ca...
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High Functioning CI Workers in PS Firms
CI S...
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Evolution of Law Firm CI
1. CI functions in ...
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How Competitive Intelligence Helps Professional Service Firms Succeed

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How Competitive Intelligence Helps Professional Service Firms Succeed

  1. 1. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by How Competitive Intelligence Helps Professional Services Firms Succeed Dr. Ann Lee Gibson Dr. Craig Fleisher A Complimentary Webinar from Aurora WDC 12:00 Noon Eastern /// Wednesday 9 July 2014 ~ featuring ~
  2. 2. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by Ann Lee Gibson advises law firms on competitive intelligence and business development. She consults, teaches, and coaches in the areas of firm growth strategies, high-stakes business competitions, and sales presentations. Dr. Gibson also helps law firms develop CI and proposal systems. Since 1998, she has helped law firms compete for and win over $800 million in new business. agibson@annleegibson.com Twitter.com/@annleegibson www.annleegibson.com The Intelligence Collaborative is the online learning and networking community powered by Aurora WDC, our clients, partners and other friends and dedicated to exploring how to apply intelligence methods to solve real-world business problems. Apply for a free 30-day trial membership at http://IntelCollab.com or learn more about Aurora at http://AuroraWDC.com – see you next time!
  3. 3. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by α Use the Questions panel on your GoToWebinar control panel, and all questions will be answered in the second half of the hour. α You are welcome to tweet any comments on Twitter where we are monitoring the hashtag #IntelCollab or eavesdrop via http://tweetchat.com/room/IntelCollab α Slides will be available after the webinar for embedding and sharing via http://slideshare.net/IntelCollab α To view the recording and download the PPT file, please register for a trial membership at http://IntelCollab.com. Questions, Commentary & Content
  4. 4. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by Agenda 1. Overview of professional services firms 2. How professional services firms differ from other enterprises 3. Growth and challenges of professional services firms 4. Wide-ranging CI roles, functions and work in PS firms 5. Are you well suited to succeed in these firms? 6. Summary, Q&A and discussion
  5. 5. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by Professional Services Industries Legal Engineering Management Consulting Accounting Architecture 1. 2013 Revenue $277 B $207 B $153 B $94 B $38 B 2. All Employees 1,350,000 1,100,000 1,200,00 518,000 260,000 3. Businesses 411,000 147,000 590,000 109,000 98,000 4. 2009-14 Growth Rate 1.1% 1.1% 5.1% 2.8% 1.6% Representative Large Firms 1. 2013 Revenue $2.2 B $27.3 B $7.8 B $13.9 B $116 M 2. Professionals / All Employees 1,670 / 4,300 ? / 38,000 7,500 / 14,000 50,100 / 60,900 440 / 550
  6. 6. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by 100 Largest US Accounting Firms Source: Accounting Today Owner Partners 16,900 All Professionals 128,300 Staffing Leverage 6.6 : 1 Revenue Per Professional $390,000 Top 100 US Law Firms 2013 Revenue 100 Largest US Law Firms Source: The American Lawyer Owner Partners 20,100 All Lawyers 92,000 Staffing Leverage 3.6 : 1 Revenue Per Lawyer $841,000 Industry Consolidation Varies Greatly Total Revenue $77 B Top Firm $2.5 B 25th Firm $975 M 100th Firm $310 M 75% of Revenue 53 firms Top 100 US Accounting Firms 2013 Revenue $0 $5.0 $10.0 $14.0 $0 $2.5 Total Revenue $50 B Top Firm $13.9 B 25th Firm $450 M 100th Firm $31 M 75% of Revenue 4 firms
  7. 7. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by PS Firms Differ from Other Enterprises 1. Owners Many … highly educated … empowered … elevator assets … not normal 2. Cultures Traditional … hierarchical … relationship-based … lofty 3. Regulation Licensed … governmental protections … ethical codes 4. Leadership and management Home-grown … unprofessionalized … political 5. Decision-making processes Slow … distributed … consensual … black-box
  8. 8. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by Chapter 6 – Attributes Peculiar to the Legal Industry and Law Firms (Free to Webinar participants) ► Size and scope of the legal industry ► What law firms compete for ► Law firm competitors ► How law firms organize to provide legal services ► Lawyers and other people who work in law firms
  9. 9. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by http://www.dni.gov/index.php/about/organization/national-intelligence-council-global-trends
  10. 10. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by Individual Empowerment Nexus of Food, Water and Energy Diffusion of Power . Changing Demographic Patterns. 1 2 4 3
  11. 11. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by Generational Transition in Professional Services Firms → Culture Shifts and Diversity of Talent and Clients
  12. 12. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by Global 2030 Game Changers 1. Crisis-prone global economy 2. Impacts of new technologies 3. Governance gap 4. Potential for increased conflict 5. Wider scope of regional instability 6. Role of the United States
  13. 13. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by New Stressors on PS Firms New Technologies 1. Big data access, analysis 2. Better KM tools 3. Better work processes 4. Better project management tools 5. Bigger, better, faster, more reliable Internet access 6. Approaching technological singularity and task automation New Competitive Forces 1. Buyers requiring more fixed costs 2. Bundled services are disintegrating 3. New outsourcing competitors with substitute inputs 4. New investment capital for new entrants 5. Second World is producing new competitors 6. Fewer regulatory protections
  14. 14. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by Challenges for CI Workers in PS Firms Work challenges 1. Your firm has many competitors— scores, hundreds. 2. Firm clients come from all sectors, industries, locales. 3. You must learn the profession’s services, processes, rules. 4. You must build an internal firm network and an external industry network. Culture challenges 1. You’re “not a professional.” 2. You must learn how CI clients think and decide. 3. They confuse info and intel. 4. They will seek out mistakes and re-analyze your information. 5. They will debate strenuously your intelligence/conclusions. 6. Your reporting styles must mirror their reporting styles.
  15. 15. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by How to Add Value and Advance in PS Firms 1. First, find a CI client who makes decisions and needs your help. 2. Know / learn what your client already knows. 3. Do good work. Then do better work. 4. Disseminate differently (a) the intel that confirms what your clients know and (b) the intel that will surprise them. 5. Find a chronic problem and the person who worries about it. Collaborate with them to find a way to make that problem go away. 6. Find high-status, high-value clients with strategic decisions to make. 7. Evolve your role to focus on the highest-risk, highest-value decisions.
  16. 16. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by How to Minimize “Hey You!” Assignments 1. Catalog and code every CI assignment—time spent, estimated value, results, and all project documents. 2. Build templates for simpler assignments and teach others to do them. Automate as many intel products as possible. 3. Avoid responsibility for weekly, monthly info report updates. 4. Find and train others at the firm who have potential for CI work. 5. Prepare an annual calendar for strategic CI projects tied to known strategic decisions. 6. Find a high-status protector with high-value, high-risk decisions to make.
  17. 17. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by High Functioning CI Workers in PS Firms CI Strengths / Skills 1. Familiar with industry, players, competitive forces 2. Active listener and strong humint elicitation skills 3. Strong analyst—all kinds 4. Persuasive writer 5. Good report designer and creator 6. Dual affections for (aligned) strategy and tactics 7. Good teacher, mentor, team builder Personal Attributes 1. Very fast learner 2. Not defensive or easily intimidated 3. High attention to detail 4. Politically astute 5. Boardroom presence 6. Comfortable with ambiguity 7. Enjoys role of an internal consultant 8. Enjoys firm culture and working with “professionals”
  18. 18. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by Evolution of Law Firm CI 1. CI functions in law firms started in late 1990s. 2. Law firm CI functions range from very basic to very sophisticated. 3. Law firm CI functions lag those in large accounting firms. 4. Firms initially recruited home-grown CI talent from within industry. 5. CI first focused on BD, sales, key client relationships. 6. Then law firm CI turned to lateral recruiting, new offices, mergers. 7. Firms are now focusing on broader competitive strategies and issues—services, processes, structures, new kinds of labor. 8. Firms now recruiting strong CI talent from outside the industry. 9. Firms are locating strategic CI resources in the C-suite and keeping more tactical CI resources in marketing and library.
  19. 19. The Intelligence Collaborative http://IntelCollab.com #IntelCollab Powered by Thank you! Now, how about a little Q&A? Web: www.annleegibson.com Email: agibson@annleegibson.com Blog: www.lawfirmci.blogspot.com Twitter: @annleegibson

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