Bernadette is the managing partner in the mid-west office of a national law firm.
They’ve done well over the last few years, thanks to three senior attorneys with large, high-profile, anchor clients that have kept the firm busy.
Even as these attorneys have been critical to the success of the firm, they are also a big problem. They see themselves as the stars and others in the firm as dead wood. They are condescending and at times abusive of the other attorneys and support staff. Although they are already highly compensated and there is a significant income gap between them and others in the firm, they continue to push to widen that gap further. They strongly oppose any business objectives that do not directly support their practices, effectively preventing other attorneys from rising within the firm. Their sole focus is what is best for them, regardless of what is best for the firm.
Bernadette lives in fear of losing any of these key players. She sees the cost of losing any of the core clients as unacceptable. She works hard to keep the three attorneys happy. Her intention is to retain them at all costs.
The challenge is that morale in the rest of the firm is quite low. The culture is one of fear and resentment. There is a lot of turnover. She can’t pursue any strategy that isn’t supported by the triangle. And 2 of the three major clients are businesses with aging ownership and product lines in danger of becoming obsolete over the next several years.
Bernadette knows they are headed for trouble, but feels completely stuck.
What would you do in this situation?
Would you let the short-term risks rule the day? Or would you take a look at the cost of allowing these attorneys to hijack the business’ future? Would you focus on what people would think if you lost one or more of your key players or on what people think seeing the current turnover in the rest of your firm?
We all have challenges like this which interfere with the forward movement of our businesses. For you, it might not be partners or employees. It could be a strategy or a process. It could be a vendor. Or a way of thinking.
What are you afraid of losing that is causing you to make short-term decisions that undermine your long-term growth?
As we begin 2012, try this on: Shift your focus from addressing short-term problems to making the best choices for the long-term and see what new possibilities might arise.