Create Your Own Future: An Introduction to Planning

Most lawyers now agree-although some still grudgingly-that "law is a business," and that they need to pay attention to traditional business factors that many have ignored up to now. Many attorneys begin to realize that they are in trouble only when the money ceases to come in the door. However, cash flow cessation is usually the last symptom of a downward spiral that started long before.

Warning Signs & Examples

Look at an example of warning signs from the world of sports. Your law practice is like an athlete who is exercising in hot weather. Hydration-maintaining adequate body fluids-is critical to an athlete's performance and even his health. In fact, dehydration (losing water) can lead to serious medical problems like heat exhaustion, heat stroke, and ultimately death.

Most lawyers now agree-although some still grudgingly-that "law is a business," and that they need to pay attention to traditional business factors that many have ignored up to now. Many attorneys begin to realize that they are in trouble only when the money ceases to come in the door. However, cash flow cessation is usually the last symptom of a downward spiral that started long before.

Warning Signs & Examples

Look at an example of warning signs from the world of sports. Your law practice is like an athlete who is exercising in hot weather. Hydration-maintaining adequate body fluids-is critical to an athlete's performance and even his health. In fact, dehydration (losing water) can lead to serious medical problems like heat exhaustion, heat stroke, and ultimately death.

Unfortunately, the body's ability to detect dehydration is slow. There is a lag time between when the body is starting to become dehydrated and when it sends a signal (thirst) to head to the nearest water fountain. Knowledgeable athletes anticipate this problem by drinking plenty of fluids before and during exercise, even if they are not thirsty.

A law practice works the same way. The point when the cash has stopped coming in the door is much too late to start wondering if you may have a problem. You do. The seeds of the problem were undoubtedly sown weeks, months, or even years earlier.

Criticisms of Planning

Why do lawyers seem to have so much trouble accepting the concept of business planning? Studies show that there are four main objections or excuses. Planning is demeaning or "unprofessional," lawyers don't have the time or the desire to learn business skills, planning is complex and boring, and there just isn't enough time to spend on non-legal matters these days. Let me counter these criticisms directly. First, "business" is not dishonorable at all. Doctors do it, architects do it, every successful person does it. Anyone who does not understand that the practice of law is a business is living in the past. Second, with regard to training, any reasonably intelligent lawyer can learn the basics of planning and sound business practices without having to get bogged down by the details. Third, planning can be simple and understandable. Fourth, and I know this may sound threatening, you had better find some time to think about the business of your practice, or time may be all you will have left!

The future is not a result of choices among alternative paths offered by the present, but a place that is created-created first in the mind and will, and created next in the activity. The future is not someplace you are going to but one you are creating. The paths to it are not found, but made. The opportunity for utilizing the primary tool of good management-effective business planning-is here and available. The question is: What do you plan to do about planning for your success?

Unfortunately, the body's ability to detect dehydration is slow. There is a lag time between when the body is starting to become dehydrated and when it sends a signal (thirst) to head to the nearest water fountain. Knowledgeable athletes anticipate this problem by drinking plenty of fluids before and during exercise, even if they are not thirsty.

A law practice works the same way. The point when the cash has stopped coming in the door is much too late to start wondering if you may have a problem. You do. The seeds of the problem were undoubtedly sown weeks, months, or even years earlier.

Criticisms of Planning

Why do lawyers seem to have so much trouble accepting the concept of business planning? Studies show that there are four main objections or excuses. Planning is demeaning or "unprofessional," lawyers don't have the time or the desire to learn business skills, planning is complex and boring, and there just isn't enough time to spend on non-legal matters these days. Let me counter these criticisms directly. First, "business" is not dishonorable at all. Doctors do it, architects do it, every successful person does it. Anyone who does not understand that the practice of law is a business is living in the past. Second, with regard to training, any reasonably intelligent lawyer can learn the basics of planning and sound business practices without having to get bogged down by the details. Third, planning can be simple and understandable. Fourth, and I know this may sound threatening, you had better find some time to think about the business of your practice, or time may be all you will have left!

The future is not a result of choices among alternative paths offered by the present, but a place that is created-created first in the mind and will, and created next in the activity. The future is not someplace you are going to but one you are creating. The paths to it are not found, but made. The opportunity for utilizing the primary tool of good management-effective business planning-is here and available. The question is: What do you plan to do about planning for your success?