How Your Perception is Shaping Your Law Firm’s Success (or Failure)
In business, perception isn’t just a lens—it’s a steering wheel. Where you focus your attention determines where you drive your firm. And too many legal practices are running straight into a brick wall without even realizing it. Let’s talk about a small-to-midsize law firm ... Smith & Partners LLP. They’ve been struggling with declining client retention and slow new business. Ask the partners why, and they’ll give you a confident answer: “Market saturation. Cheap online legal services. Clients just don’t value high-quality legal work anymore.” They’re convinced the problem is external, so what do they do? They start competing on price, offering discounts, and cutting back on marketing spend because “clients won’t pay for expertise anymore.” And what happens? They attract price-driven clients who leave as soon as they find someone cheaper. Their belief is reinforced, and the downward spiral continues. This is the observer effect in action—what they believe shapes what th...