Andy Raynor - Beyond the Brief

Andy Raynor's blog

Beauty before Age

"THERE ARE NO CLEAN GETAWAYS"

I’ve been here before and I’ll visit again. One of the biggest challenges facing professional firms is – or soon will be – nothing to do with the economy or increasing competition or legislation or anything else outside our control.

It cannot be left in the hope that it will go away. It gets worse as the clock ticks. All you have to do is look in the mirror.

It’s age.

There are some of the wisest, sagest professional businesses out there with an average partner age over 50. They are brilliant. They tell you in moments what younger people aren't yet bruised enough to learn. And relatively few of the partners need afternoon naps.

Remember though if you do nothing, that average rises by one year, every year.

I’m not trying to be ageist or controversial, just honest. Whilst the years may bring wisdom and instant credibility, they also change personal priorities and, for most, energy levels and ambition. Not many people still really feel they have something to prove at 60 plus.

Those that do, I applaud. Those that don’t but cling on, I need your help and you need mine. We both need to have an understanding that the only way you’re going to leave a healthy business is by getting the young folk in.

And since everyone knows that not all your chosen ones make the grade, you need to get on with it, now.

The average age of partner appointments in most firms has risen by at least half a decade in my working life, and most of it over the last ten years. Profits have been far easier to manage per partner than in total, when growth has been hard to come by.

By all means keep equity for those who really understand it, but don’t hoard. Because if you do, you will defeat yourself.

The regular appointment of equity partners is more than just a bookish virtue, more even than long-term business growth. It is survival. Leave dealing with this another year and it will be much, much harder. Leave it five years and it will be too bloody late.

Face this reality. The best, most profitable partners are like you were. Young, ambitious and a pain in the ae.

You may be past your boogying years and very, very good, but this is certainly no country for (only) old men.

Tell me what you think at andy@andypraynor.com

And see what's been said before by looking in the archive:

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© Andy Raynor 2013

	Andy Raynor - Beyond the Brief

	Andy Raynor's blog Beauty before Age *"THERE ARE NO CLEAN GETAWAYS"* I’ve been here before and I’ll visit again. One of the biggest challenges facing professional firms is – or soon will be – nothing to do with the economy or increasing competition or legislation or anything else outside our control. It cannot be left in the hope that it will go away. It gets worse as the clock ticks. All you have to do is look in the mirror. It’s age. There are some of the wisest, sagest professional businesses out there with an average partner age over 50. They are brilliant. They tell you in moments what younger people aren't yet bruised enough to learn. And relatively few of the partners need afternoon naps. Remember though if you do nothing, that average rises by one year, every year. I’m not trying to be ageist or controversial, just honest. Whilst the years may bring wisdom and instant credibility, they also change personal priorities and, for most, energy levels and ambition. Not many people still really feel they have something to prove at 60 plus. Those that do, I applaud. Those that don’t but cling on, I need your help and you need mine. We both need to have an understanding that the only way you’re going to leave a healthy business is by getting the young folk in. And since everyone knows that not all your chosen ones make the grade, you need to get on with it, now. The average age of partner appointments in most firms has risen by at least half a decade in my working life, and most of it over the last ten years. Profits have been far easier to manage per partner than in total, when growth has been hard to come by. By all means keep equity for those who really understand it, but don’t hoard. Because if you do, you will defeat yourself. The regular appointment of equity partners is more than just a bookish virtue, more even than long-term business growth. It is survival. Leave dealing with this another year and it will be much, much harder. Leave it five years and it will be too bloody late. Face this reality. The best, most profitable partners are like you were. Young, ambitious and a pain in the ae. You may be past your boogying years and very, very good, but this is certainly no country for (only) old men. Tell me what you think at andy@andypraynor.com And see what's been said before by looking in the archive:**
	Home \| Why? \| Me \| You \| Advisers \| Blog \| Links \| Contact	© Andy Raynor 2013