Seth Godin may have a gem for law firms
Seth Godin, puts his Stanford MBA to good use as he illustrates that this "Local Max" is probably where your law firm is right now. The pain that you would sustain at points B and C leads to the "Big Max" (below).
If we extrapolate from Seth's comments combined with my observations of our profession, almost no law firm is willing to pay the price to get to the "Big Max".
When I asked Seth Godin for his thoughts on how his analysis applies to professional service firms, and law firms in particular, he said:
I'd argue that superstar lawyers are the ones that did something that got them in a lot of trouble with their partners
Don't read that too negatively — let's remember just how risk averse law firms tend to be — therefore innovation comes at the price of making a firm a bit uncomfortable (maybe very uncomfortable).
Two questions:
1) Do you think Seth's analysis is indeed applicable to law firms?
2) When you contemplate your firm's future, what would it really take to get the partners to agree to endure B and C?
[Seth's quote posted with permission] Read Seth's complete post.
Addendum: Thank you to Michelle Golden for comment below
Hello Gerry,
I, for one, absolutely think there is applicability to law firms. In response to Seth's post, I wrote this: http://goldenmarketing.typepad.com/weblog/2005/11/what_innovation.html
In summary, I believe the applicability pertains largely (though not solely) to innovation in firms. Innovation in the form of new approaches to doing things lawyers have done "forever," looking more deeply at how a firm can serve a client and doing something about it, and new ways of regarding people within the firm. I believe most associates would agree that firms are not always the most pleasant places to be day in and day out (many partners will also agree, I'm sure).
That can change.
And when it does, clients absolutely reap the benefits in the form of attitude and energy (read: service) of those with whom they work.
Michelle
Michelle Golden, President
Golden Marketing Inc.