There is a rising economic wave – yet many lawyers’ practices are full. They’ve suddenly become too busy to grow their practices. I haven’t encountered this since before the crash. Lawyers who a year ago were out hunting for business are now hiding out, trying to get their work done, and ignoring their marketing.
Smart lawyers who see the wave coming get out their surfboards. They start asking “how do I need to evolve this practice to take advantage of the rising market?” Dumb ones put on their life jackets and just try to stay afloat. Their mantra is “I’m too busy – I don’t have time to market!”
So, a blunt question: when is the best time to fish? When the pond is dry, or when it’s been re-stocked?
The firms that will survive and prosper are led by forward-thinking managing partners who monitor their attorneys’ workloads and proactively intervene to provide more support, more resources, and practical training on team management. They help attorneys evolve from worker-bee to a true legal CEO.
But the reaction of most firms is to hunker down. “We don’t need more help – it’s too expensive. The harder we work, the more profit we take home.” As a result they burn out their team, increase turnover of good team members, and miss the opportunity for spectacular growth.
Is your firm hunkering down in the face of a growing economy, or is it seeking to ride the wave?
If you’re in hunker down mode and want out, let’s talk. Call me at 407-830-9810.