Succession planning – Is it possible?

Most lawyers fail to plan for succession because i) they think they’re immortal; ii) they live in a system (most law firms) in which they

In my work with lawyers, few actually believe they have something of value they can sell to another lawyer. They don’t believe they have goodwill that can be transferred, thus there is even less willingness to share the current value of their attorney-client relationship, even with others in their own firm.

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Rod likes this definition because it is client-centric, as he says, and it is also personally beneficial (profits). Though, as Rod continues, it begs the question a bit.

My own definition, though broad, is: Marketing is the process by which we seek to persuade others of the merits of our beliefs.

I believe most everything we do has a marketing element, from the way we speak to people, the way we dress, even the way we eat. All of our activities impacts others in one way or another. Some of our actions may “turn people off” while other of our actions persuade them to come closer to us and actually engage us.

This definition accepts the proposition that there is both a negative as well as a positive aspect to our marketing efforts. Our hope is that our efforts create only positive results, i.e., causing people to want to engage us.

Categorized in: Management