Wednesday, 29 April 2015

THE MEANING OF WORDS OR RULES OF INTERPRETATION

Your law firm life literally depends on the meaning of the words you use and the meaning you take from the words other people use in conversations with you and in communications meant for you.
This is why the agreed upon definition of a word, phrase or buzzword is so so important. Its meaning is literally what we are talking about.
Words convey meaning and they let you know what can be achieved and what cannot be. They also show you how to navigate from Point A to Point B.

For example, Focus. Should your law firm focus on a few manor clients or industries or should it diversify and spread its risk? You probably have an obvious answer one way or another but that is beside the point. We first have to have a clear and comprehensive meaning of the words focus and diversify that will leave no room for clauses and justifications.
So what is focus? Is it putting 50% on one industry and then what is diversification? Is it about reducing your personal appetite for risk or preempting covering your behind in case there is a reverse up in the future. Then there is the business reality that making bet the company decisions are necessary to living long and great as a business. And all bet the company decisions are totally irrational.

For your law firm, all the above on what meaning you take from words matters very much because your law firm is a business and if you do not accept that it is a business then you will close yourself off from all the beneficial aspects of the business world which will make your firm grow and such.
If you accept that you are a business person, you will hang out a bit more with the pure play business folk, see life as they do and speak their language. This will necessarily help you see why businesses respond to you the way they do and will also carry over into the way you run your law firm.

Or just take the word responsibility. There is no such word, what exists is responsibility + authority so if you have one you have the other and if you imply one then you imply the other. Imagine assuming only one portion of the meaning of this word and all the drama this mismeaning will bring into your affairs, your planning and your putting ideas into play.

But then, it's just the meaning of words. But then again the words express meaning, what you consider possible, what can be done and what cannot be done and how to go about it.

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