Jones Foster’s Scott Hawkins Pens ‘Lessons Learned’ Column for Chamber as Chairman of Century-Old Business

Learning from a Legend | A 100-Year Milestone: Lessons Learned

By Scott G. Hawkins

The U.S. Small Business Administration estimates that 99.9% of all current businesses are small businesses and of those they estimate that only 25% will survive over 15 years. Against that stark backdrop, Jones Foster is immensely grateful to be celebrating its Centennial as a Palm Beach County-based law firm.

Hitting a significant milestone such as this raises the question: How did Jones Foster survive and thrive?

• Adhere to Core Values: Maintaining core values in an organization over time provides clarity and stability. They serve as a guidance system to keep you on track, focused on your strengths and purpose through times of economic and societal changes.

• Hire the Right People: Recruiting and attracting talented people for the job is essential. We look for individuals with strong academic ability, the ability to work under pressure, and strong presentation and analytical skills. We also look for those with personality traits that uplift the organization such as high moral character, resourcefulness, a positive emotional and behavioral temperament, stability, and reliability. The right people are key to a strong culture that retains its people and can offer a depth and scope of institutional knowledge that benefits clients and future stakeholders.

• Mentor and Empower Your People: Being successful in your career is great for you but sharing that knowledge and experience to grow and empower the next generation is great for your business. Invest in your people and provide them with the tools to excel and become not just great in their jobs but great leaders in their industry and community.

• Compensation: It is important to compensate employees fairly and to incent hard work and achievement. Further, what an organization measures and recognizes should align with the organization’s core values.

• Grow with Your Clients: Seek to understand your clients’ businesses and their evolving needs. This goal can be a catalyst for your business to develop, innovate, and grow. Client relationships that share mutual respect and meaningful growth are pivotal to a business’s longevity.

• Think of the Future When Spending in the Present: According to SCORE, 82% of businesses fail due to poor cash flow management. Evaluate and manage pricing, expenses, budgets, and expansion goals with the mindset of a fiduciary. Be a good steward of your business so your leadership results in an organization well-positioned for the next generation.

• Be Impactful: Many of us have significant demands on our time, and our responsibility to our clients is paramount. However, being an active participant in industry and business groups and nonprofit organizations is essential to developing leadership skills, fostering meaningful long-term relationships, and positively impacting our community.

While no organization can hit the mark all of the time, I believe these key strategies helped guide our firm through a century of challenges, successes, and change. I hope it proves useful as you lead your business toward its next milestone.

This article was originally published in the June 2024 edition of the Chamber Insights newsletter, a publication of the Chamber of Commerce of the Palm Beaches.

About Scott G. Hawkins

Jones Foster Chairman Scott Hawkins is a Florida Bar Board Certified business litigation attorney and a past president of The Florida Bar. He graduated with honors from the University of Florida with a B.S.B.A. degree in economics and, after earning his law degree, went on to earn an MBA from the University of Edinburgh in Scotland where he was a Rotary Foundation International Scholar.

Mr. Hawkins is actively involved in the Economic Council of Palm Beach County, having served as a member of its board of directors since 2017 and as chair of several committees, including the Council’s Political Action Committee. A longtime supporter of higher education, Mr. Hawkins currently serves on the UF Law Center Association’s board of trustees, of which he is a past chair, and on the Leadership Council for UF’s College of Medicine. He also has been a trustee of Palm Beach Atlantic University for the past 30 years, serving as chair of the Board of Trustees from 2013-2015.