The difference between value and money

Last week (18.5.2018) Seth Godin published a post on ‘The difference between time and money’. In the post, Seth states:

You can’t save up time. You can’t refuse to spend it. You can’t set it aside.

Either you’re spending your time.

Or your time is spending you.

Very profound. Especially if you work in the legal industry.

At roughly the same time (15.5.2018), the Association of Corporate Counsel (ACC) named its 2018 Value Champions.

One of the quotes – in the accompanying news reports to the announcement – states that, when considering value, the committee/clients give(s) consideration to: “cutting costs, improving predictability of spend, and improving legal and processing outcomes.

For a long time now our industry has used time as a metric of success and tried to equate value with the cost of that time.

What I hope we can take out of these two completely unrelated posts is this:- cost of service may have something to do with how we value something, but more often than not it has nothing to do with it at all.

So if you are looking to be a client-centric value champion ask yourself everyday:-

‘What am I doing to add value to my clients’ businesses?’

Because that’s surely how you will survive moving forward.

rws_01

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