Darren Root was jean shopping with his kids and when he picked out a typical pair of jeans, they told him that he was dressing like an old man. This is when Darren realized he was stuck…“not just in fashion, but in life.” A lesson we can take from Darren’s denim fiasco, is that The Modern Firm is all about staying relevant and not getting left behind during times of change. Change will continue to challenge the relevancy of firms, and it is important to acknowledge rather than ignore these changes. Most importantly, we must find a way to adapt. Transforming your business into a modern firm can seem like a daunting task, but, if changes aren’t made, your firm will fall further and further behind.
Transforming your business to a modern firm
1. The importance of a clear vision is still true for The Modern Firm. Your core values set the tone for your operation, your culture and how you treat clients. Defining an inspiring “why” will keep your team focused and motivated.
2. Technology plays a huge role in the transformation from a business to a modern firm. Amazon, Google, Starbucks and Apple are perfect examples of companies that have embraced technology and change. These companies have not only kept up with the times, they have transformed.
3. As you take steps towards your transformation, you need to continue to work ON the firm, IN the firm and WITH your clients. This framework will help move your business away from outdated concepts and processes towards a business model that promotes growth and prosperity.
4. Most importantly, set a goal for your firm. Be sure to track and measure your progress and, ultimately, never lose sight of your firm’s potential.
For more information about The Modern Firm and how to start your transformation, download the Rootworks whitepaper here.
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