The Practical Entrepreneur: Lawyers and Starting Out in Business, Part III

By Manny Drukier Created: Aug 6, 2009 Last Updated: Nov 7, 2009
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Practical Entrepreneur - Manny Drukier

Perhaps you'll be one of the few people in the business world who are public-spirited and wish to take an active part in the political arena. (Photos.com)
Whatever business you are in, you will need to deal with city hall on matters such as zoning, parking, garbage collection, parks, schools, noise, pollution, and so on. If you feel strongly about certain issues do not hesitate to organize a protest or support group from among your neighbors, competitors, and other concerned citizens.

Of the three layers of government, the municipal level is the least rigid. There you have an excellent chance to affect change. Being vocal and persistent at this level often works since municipal politicians must be attuned to their constituents' legitimate concerns. Relatively speaking, even a swing of a few dozen votes may reduce a sitting alderman to a private citizen.

We are told that education is the key to success. Still, the best and brightest in today's high-tech economy don't necessarily win. That they should be promoted and rewarded is the meritocratic ideal and we persist in the illusion that high-tech skills are richly rewarded. If that were true one would see astro-physicists growing spectacularly wealthy instead of bond traders, corporate presidents, and merger lawyers, whose skills have nothing to do with technology.

Because research can now be farmed out, we find software coming out of Russia, Poland, and Bangalore, India. But there is a virtual closed shop of litigation lawyers, bankers, and derivative traders who are informally organized into something akin to the guilds of medieval Italy or Holland. Since we are sold on the global economy, why pay $350+ per hour to a local lawyer when Internet communication makes it possible to have a legal brief written by an Indian lawyer in Mumbai? After all, $50 an hour for expert legal help is about right in a declining economy.

Inevitably you will be drawn to participate, on a volunteer basis, in the national association relating to your product or service.

The mandate of the paid personnel is to lobby the appropriate ministry on the industry's behalf. You will find though, that the real movers and shakers in your industry are too busy to bother making a personal contribution, thus leaving the job to the paid personnel and a number of second echelon windbags. After assessing the situation you may decide to join the executive and thus be able to nudge the group into action.

Let me warn you first: make sure that top executives from other firms come on board as well. Otherwise, you will be doing all the work—unpaid of course. If you feel strongly about an issue and your input can make a difference, go ahead and take the plunge. You may even get to like the action. Perhaps you'll be one of the few people in the business world who are public-spirited and wish to take an active part in the political arena.

If you do get involved, you would need to brush up on the current lingo. When, or if, you get invited to a high-powered cocktail party, you may want to drop some of the choice phrases and watch the others nod wisely. Take this down: “While hope lies in the future, wisdom lies in the past.” “Where we have been, where we are at, and where we are going.” “Walk the walk and talk the talk.” “At the end of the day, each and every one of us ...” The best one, “Stake in the ground.” Maybe there is something to these phrases, every one of the CEOs who coined them got a big bonus.

Manny Drukier has been in business, from manufacturing to publishing, retail to real estate, stocks to stockpots for the past 60 years. He is the author of two books and resides in Toronto, Canada.

 



 
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