The Mad Clientist – the blog of the BTI Consulting Group – has diagnosed a growing epidemic among law firms: complacency.
“Wishes do come true,” they write. “Legal spending is up. The existential crisis is over. And urgency is retreating as success is just a little easier to come by.”
The result, they say, is a decrease in concern about the future.
“Complacency now stands as the number-one source of insomnia for law firm CMOs, at 24.9%,” they write, basing their conclusion on in-depth interviews with more than 160 law-firm marketing leaders.
The BTI Group’s post suggests that as law firms enjoy renewed financial growth, lawyers become less interested in ensuring that the growth continues. They identify three factors that contribute to complacency, and point out that firms that succumb are placing themselves at risk.
I agree. In fact, I see many law firm leaders who are looking for any justification to ignore the evolution of the legal profession because it is hugely inconvenient to keep track and lead in a fast-changing environment.
As always, a few exceptional leaders will not only capitalize on these changes in the short run, but will soar like eagles above the rest of the profession in the long run.
Is complacency creeping into your firm? What are you doing to combat it? Let me know your thoughts on this or any other matter related to the law, either in the comments below or directly via email.