The isolation brought on by the coronavirus crisis has provided the time and perspective for all of us to reflect. For many centuries, major changes of all varieties have come when least expected. Only those who pay attention to their core values and financial discipline even when things are very good—avoiding the herd mentality, quickly facing changing realities, having both the courage and structural ability in their business models to nimbly adjust and move forward—tend to survive.

For those now in law firm or other business leadership, the focus of this reflection is first and foremost the health and well-being of the many human beings and their families who are counting on them. At a time when they don’t know who to believe or trust, we must be transparent, honest and compassionate. Those obligations very much include an assessment of how deep and long the current crisis will likely last and what is necessary to ensure that those families will not have the added stress of financial uncertainty caused by your failure to urgently assess, plan and respond as we all move forward together.