By: Brian Wagner
“In the midst of every crisis, lies great opportunity.”
-Albert Einstein
We all find ourselves in the midst of a global pandemic, the likes of which the world has not seen in some time. The loss of human life has been staggering, and trade and commerce have been affected in ways we could not imagine. Across the world business has been shut down, air travel has been dramatically reduced and people have been forced to work from their homes. Our work and social lives have been turned upside-down. However, the human race is accustomed to facing crisis and emerging stronger than ever. The power of crisis to fuel innovation is incredible.
In 2010, BP’s Deep Water Horizon oil rig experienced an explosion in the middle of the Gulf of Mexico. Subsequent to the explosion, petroleum flowed freely from the sea floor. BP was forced to figure out a way to do something that had never been done before. They had to figure out how to cap and seal this leak, located over a mile beneath the surface of the water. The condition lasted for over two months, but a team of dedicated, and inspired individuals developed the technology to seal the leak. That technology is now incorporated as a fail-safe for deep water drilling rigs around the world. Advances in information sharing technology as well as advances in oil spill science have improved as a result of this disaster.
Under normal conditions, people will err on the side of caution. Fear of failure usually wins out over the argument for change. In a crisis, however, the real risk becomes doing nothing. When the rug is pulled out from under your feet, there is almost no downside to taking a chance on trying something new.
How we react to this current crisis will define our firms for years to come. Prior to March of this year, many of us had never even heard of Zoom; now it is commonplace. Instead of spending valuable resources on plane tickets to out-of-town meetings and depositions, most firms have upgraded their video conferencing capabilities. Last year, the idea of lawyers and staff working from home and still being productive seemed impossible; yet we have managed to survive and thrive. As small to mid-sized firms, we can be nimble enough to make changes and adjust to a changing business environment. A Nimitz-class aircraft carrier is a powerful weapon. It is over 1,000 feet long and 300 feet wide. However, it takes approximately 3-5 miles for a Nimitz-class carrier to change course. A PT boat, on the other hand, could change course on a dime. Primerus firms are like PT boats. Our size allows us to change course and adapt to changing legal environments, while the larger firms can get bogged down.
I am confident that we will rise to the occasion and emerge from this pandemic stronger than ever.