If you are like most lawyers, you don’t often stop and take a look at how you are actually spending your time. As the old adage goes, time is money.
Are you trying to do everything yourself? This is common whether you are a solo-practitioner or working at a firm. But sit down and do the math. By the way I was never really good at math growing up, but this is what you call simple math. If you are spending time doing anything that could be delegated to someone, perhaps one of your staff, or outsourced, and pay them less than it would cost you in your time, that saves you money.
In fact one of the expressions I often use with my clients is “Where are you leaving money on the table?” Because that is exactly what you are doing. So instead of thinking it’s cheaper to do it yourself, think about the real cost of doing it yourself.
If you freed up more of your time what would you do with it? Spend more time going after more clients and growing your business? More client lunches to shore up current relationships? More volunteer work? More time with your family. This is really about when common sense meets the math. Then once you figure this out for yourself, duplicate the process with anyone on your team that is a fee-earner.
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