Are you like me, and marvel at all the elements that must come together to produce a great Broadway musical like Hamilton?
A script must be written, music scored, choreography staged, sets designed, lighting directed, actors hired, media promoted – the list is endless to attract an audience willing to pay hundreds (if not thousands) of dollars to enjoy a two-hour performance.
Have you thought of your estate planning practice in the same way?
In their breakthrough book, The Experience Economy, Joseph Pine II, and James Gilmore point out how customers will pay a premium for a transformational experience, even in a transactional economy. I delve into this more deeply in the attached podcast episode. In our economy, transactions are commoditized. In order to break free of client transactional expectations, Pine and Gilmore suggest thinking of your practice as providing a transformational experience, with both back-stage and a front-stage.
What front-stage experience will your clients willingly pay a premium for?
Like a Broadway play, many components must come together in your firm’s backstage to pull off a transformational front stage experience. Do you have documented processes for your services?
Most firms, perhaps even yours, fail to ever consider creating intentional, coordinated processes. It’s just “This is how we’ve always done it.”
Where do you start?
If you haven’t already, start documented each type of client interaction. What is the intended result? What steps should always be taken? How can you improve on what you offer today so that the interaction becomes a fantastic experience for your client?
We’ll do a deep dive into this issue at our Practice Xcelerator Event October 27-28 at Captiva Island, Florida.
We practice what we preach. Your front stage experience between the daily sessions includes a cruise to Cabbage Key Inn (only accessible by boat) where we’ll enjoy great conversation with your colleagues from around the country and a wonderful island dinner on us. (Actually, it’s on The Sanibel Captiva/ Tampa Bay/Naples Trust Company, one of our sponsors!)
Have questions about Practice Xcelerator? Call Maria Reimer.
For more information on Front Stage/Back Stage please listen to the accompanying podcast episode.
To your bigger future,
Craig R. Hersch
Florida Bar Board Certified Wills, Trusts & Estates Attorney
Senior Partner, The Sheppard Law Firm
Founder, The Freedom Practice®
PS – We’re offering a tuition discount that expires soon! One tuition covers two members of your firm. We want you to bring along someone – a partner, associate, paralegal – whoever can help you implement the many ideas you’ll take away from our two-day event. Click here to enroll now.
PPS – We’re also holding a virtual pre-event on Friday, September 17th from noon to 1:00 pm Eastern time. Enroll here.
