Launching your dream without an instruction manual: A Business Fable

Chapter 4 - The Payoff of a Plan

Welcome back to our series exploring the "Fable Framework," a journey through the hidden pitfalls of growing a professional services firm, told through the story of Bob, a seasoned lawyer, and his wife, Carol. Catch up on the earlier posts here: Beyond "I Can't Take It Anymore", The Cost of a Shortcut. and The Cost of Operating Without a Plan

When we last left Bob and Carol, Bob was finally making real money after his rocky start with Steve ("the jerk"), so much so that he saw little reason to slow down and build the plan he and Carol had agreed they needed. Five months later, that agreement has finally turned into real work: Carol has translated her research into a usable framework, and this chapter puts it to its first real test.

It was January.

Carol had been working hard with Bob over the last 5 months on their planning and she was tired - they both were! Her reading and studying had been put to good use and they had created a framework with which they were comfortable. Their Strategic Intent (SI) had, at first, been something they’d smirked at and seriously questioned why they were wasting their precious time on it. Carol’s reading had talked about “decision filters”, compasses, maps, etc. They both were convinced that these types of concepts were “above their pay grade” or that, as Bob snorted, “We’re gettin’ too big for our britches!”.

Then, Carol read some more.

• She read about how a good SI was useful as a way to determine who should and shouldn’t join your firm.

• She read about how what a business does (in their case, practice law) is something that shouldn’t be left to chance. As Bob said, “pay-the-rent” law is not apractice area.

• She saw the way a properly deployed SI could permeate a firm to the point that it even informed and structured the Partnership Agreement! (Boy, they could have really used this when Bob entered into the unfortunate partnership with Steve (the jerk)).

• She also learned that the SI should be used for the here and now but, ideally, it should also work to guide the business into the future.

What hadn’t been clear to her was how to put it into play; in other words, translating concept to action. Another book had referred to Mission, Vision, and Values (at this point, Bob’s eyebrows were touching his hairline). This, however, was something that Carol could sink her teeth into.  

As she understood it:

• Your Mission was what you did - day in and day out, it was what you provided to your clients.

• Vision was exactly that - what did they hope to achieve? In other words (and the literature she’d studied used the word “aspirational” over and over), what was it that the firm and those working in it dreamed of accomplishing? What was that something that might even be considered to be out of reach but that drove the effort of Bob (and any other future firm member)?

• Values were the distillation of the organization’s culture - they were clear and quick action statements that applied to everyone (both inside and outside of the firm) and should be actively used for decision-making

What did this all mean?

Carol had presented a draft SI that was structured in a mission/vision/values format (because she liked the format but hated saying ‘mission/vision/values’ - sounded too consultant-y). She had elected to do it this way, versus collaboratively, as: 

• she knew Bob, 

• knew his time constraints, and 

• had a good sense of what was going to work. 

Her reading had talked about a more “democratized” way of doing this. Using blank sheets, stickers, etc., a wide net of data was gathered and subjected to multiple iterations of review and synthesizing - both she and Bob weren’t wired to appreciate this (plus, it was just them at this point!).

When she presented Bob with a relatively simple questionnaire, he responded, “When the hell am I supposed to do this!?” He then saw her make the time to fill out hers and was motivated to get his done. Together, they reviewed their answers on a weekend afternoon away from the noise and craziness that was their current state of life. Bob was genuinely appreciative of the time and thoughtfulness that Carol had put into the effort. The questionnaire reflected not only the business/technical side of the firm but also some of the questions she’d posed so many months before. It was evident to her that you neglected the personal side of the equation at the risk of the business.

Sitting at a table outside looking over the fairway (it’d become their favorite thinking place), Carol started the conversation asking “Who showed up today? Strategic Bob or Transactional Bob?”

“What do you mean? I’m me.”

“Okay, I gave you pre-reading of the consolidated data that I prepared - did you read it?”

“Of course I did!”

“Okay, great - now, let’s start at the top: what is the firm’s mission?”

“Easy peasy - Excellent big firm services at small firm prices! See? Easy! What’s next?”

Carol issued a big buzzing sound: “Negatory, my friend. Looks like Transactional Bob showed up! Think..you just got out of a firm that was a sweatshop. Your colleagues and firm management PRIDED themselves on routinely hitting 2,000-3,000 BILLED hours a year. Are you trying to recreate that? Is that what you learned from your years at WORK?”

“Carol, how are you liking all the life upgrades that my “mini-sweatshop” has provided for you? Looking pretty snazzy in your new clothes, haircut, etc.! How do you think we can afford that?”

“Whoa. Deep breaths. What I am saying is that we have a UNIQUE opportunity to build something better than what you left. Wouldn’t it be great to enjoy the benefits that a higher income provides AND also have a higher degree (or, in your case, A degree) of fulfillment in what you do?”

Bob’s mouth snapped shut and he got pensive.

“I guess I’ve been operating like those are two mutually exclusive concepts.”

“Ya think?”

“I assume you have a better idea than what I had offered?”

“As a matter of fact, I do. But first, confirm some things for me since I am not in the day to day of the firm and am not a lawyer (they recited the rest in unison out of habit) …though I play one on TV:

• You are ALL about the client, right? I mean it’s at the root of why you work as much as you do (yes, I know you do it out of love for us primarily), why you answer calls, texts, emails, etc. at all times of the day and night, right? It’s one of the reasons why you didn’t get along with Steve (the jerk) right? He was just in it for the almighty dollar?

• Continuing on this thread, one of the reasons that you have wanted to grow, add other practice areas and partners, and have a larger presence comes from this desire to really care for your clients in as comprehensive a way as possible.

• Your natural talent, then honed at school and in the trenches, is to find a way to not only WIN but to get the judgment PAID.

Am I missing anything?”

Bob took a deep breath and stood up - leaning against the rail, he looked at Carol. Seeing Bob really leaning into this, she got up and looked back at him. They both felt that they were at an important juncture in the firm’s trajectory and wanted to get this right.

“I think that’s all correct, Carol. Whew, this feels like we need to get this right!”

“We do, but we also can shift and tweak over time - this isn’t a final exam!”

“Okay, in that case, how do one of these grab you?

“Carol - you’re killing me! They’re ALL awesome! Which one do YOU like??”

“Well, it kinda depends on what you really want to do with the firm. If it’s going to stay small and really be you plus maybe one or two other attorneys, that’s one thing. If you’re serious about getting bigger (in multiple senses of the word), I would go for the last one as that enables you to contemplate a host of different things.”

“The last one it is! Do we need to do vision and values now? I’m whipped!”

“Ha - let’s go home and give your Mom a break - I think we both need to “roll up our sleeves” and pay attention to the kiddies!”

It felt like it was years ago!

Looking at the clock, it was almost time to get in the car to pick up the kids from school. Putting her laptop away and standing up from her desk, she wondered how ANY business was able to function without these basic business tools. Almost immediately after that sunny day at the club, they had had their first opportunity to put the SI into play…

“Carol, check this out: looks like Steve (that jerk) has done it again! This time, he partnered up with Neal from WORK and poor old Neal is already looking for a lifeline after only 30 days with Steve. He reached out to me for “coffee” (you know what that means) - any insights on how best to let him down gently? I mean I want to help him out but I also don’t want to chew up my day.”

“Hold on a second - wasn’t Neal your “go-to” guy at WORK? Didn’t he like to do all of the crap work you didn’t like and vice versa?”

“Yeah, and?”

“Do I need to draw you a picture?”

“Relax - no need to get ugly. I pick up what you’re settin’ down. Can we afford it?”

“Can we NOT afford it? You have a physical limit as to how much you can work - if you can delegate some of what you’re bringing in to him, it’s a win/win.”

“You know, I remember us having lunches in that crappy WORK cafeteria and talking about what we liked to do outside of the firm. Can you believe he does wills and stuff like that on the side? I’m gonna see if he wants to explore doing that as well if he comes onboard.”

“Hey, now we’re talkin’!”

Neal had brought on a calm, professional presence to the firm. Bob’s delegation of work to him and Neal opening up Bob’s schedule was a tide that lifted EVERYBODY’S boat. Carol had reminded Bob (whose “switch” had already flipped on the decision to bring Neal on) to run Neal through their SI. There had been a moment of doubt when Neal had indicated a desire to just focus on the work in front of him and not get involved in “partner and politics” stuff; Carol seriously doubted that Neal would be a good partner fit. That was when Bob, correctly, pointed out “He doesn’t need to be a partner - he just needs to be Neal!”.

Sliding into the car, Carol started the car and reflected on how selecting the right person for the right job had made a material difference for them (both Bob and Carol as well as Neal and his family).

About Author

Alex Muñoz, Principal & Co-owner at CSR, is a seasoned entrepreneur with over 30 years of experience in driving strategic growth. Known for challenging norms and fostering significant ROI, Alex's diverse background spans from manufacturing to non-profits.