Bruce Stachenfeld, an Above the Law Columnist writes about  the purpose of the business of a law firm, basing his analysis on the writings of the management consultant, Peter Drucker.

According to Mr. Stachenfeld, according to Drucker the purpose of a business is to “create” a customer.  The key point is that you don’t just go out to “get” customers, you “create” them…… and that is your true purpose.

In this regard, there are only two things that every business MUST do. Everything else is white noise. If you do these two things, you have a chance at great success, and if you don’t, then most of the time the converse.

The two things are very simple:

  • To innovate.
  • And to market.

For more, see Reinventing The Law Business: Creating Customers – Peter Drucker « Above the Law: A Legal Web Site – News, Commentary, and Opinions on Law Firms, Lawyers, Law Schools, Law Suits, Judges and Courts + Career Resources.

Posted by Lewis J. Saret, Co-General Editor, Wealth Strategies Journal.