As we reflect on those life- and work-altering weeks early in the pandemic, we recall the ways law firms worldwide scrambled to adjust by closing offices, directing lawyers to work remotely, and taking other unusual measures to stabilize their businesses. Initially, we were overwhelmed. Nevertheless, the contingency plans we never hoped to use were suddenly in action. We eventually adjusted, and, for some, the transition unfolded relatively seamlessly. By last summer, forward-thinking, highly adaptable firms, including many midsize partnerships, switched from survival mode to success mode.
During market disruptions, what differentiates successful partnerships can be characterized succinctly: They identify opportunities and seize them.