Practice Management: Change Is Good
By In the last week, I read two articles that reminded me that change is inevitable and should be embraced. The only way I can see to stay ahead of ever-changing market conditions is to institutionalize processes to assess strengths and weaknesses, and to improve before you fail. In other words, run toward a goal; otherwise you are likely to run toward failure.
The first article was Management Strategies from a Top CEO by Marc Davis. It described the basic management principles of legendary CEO Jack Welch. His number one principle was that change is good. All managers, from senior executives on down, should be willing to reinvent themselves and their teams to meet shifting conditions. In hiring managers, good qualifications were a given — Welch wanted people who could energize their teams to achieve more. To actually accomplish change, Welch believed that you had to acknowledge new market realities, find ways to exploit the new reality, and have discipline in enacting your changes.
A few days later, I saw Welcome to the Future: Embracing the New Normal by Aric Press. In this AmLawDaily blog post, Mr. Press described some of the new realities that he sees for law firms. His new normal was based on conversations with some of the largest firms in the country. I am not sure all of his points apply to my practice here in Nashville. But, the big picture message is well-taken. Especially now as the economy is trying to find its own “new normal,” law firms should be doing the same. What are the new realities for your practice?
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