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The Law Firm Value Proposition
Often, when my friends talk about finding a significant other, they have a long list of must-haves that someone has to fulfill in order for them to consider that person for a partner. I sit, a little amused, wondering, if the roles were reversed, how many of those bullet points would they themselves be able to meet? Everyone seems to have a long list of must-haves — but very few can live up to those lists if asked of themselves. These relationship must-haves aren't limited to the romantic; a business relationship often starts off with a similar list of criteria. The difference is that business must-haves come in the form of a position description, featuring a laundry list of desired skills and experience. But while a law firm asks for specific education, experience, contacts and portables at certain law firms, what if the candidates were to ask for their own list of must-haves? How would a firm measure up?
Lateral Hiring
Every firm I meet with has a long list of must-haves when it comes to potential lateral hiring, yet very few have defined their value proposition or can live up to an equally long list of offerings for a lateral partner to consider them. The most important thing for any relationship to succeed is first to define what we bring to the equation. What makes your firm attractive? What sets your firm apart from the competition? If both sides would focus on that first, then more relationships would succeed. Saying “we're the best” is not enough. Your firm needs to show self-awareness and give a partner a reason that he or she should sit down and have a conversation with you.
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