Making more money is growing revenue is not just about getting more clients. If you are looking to become more profitable, you won’t want to miss this Law Watercooler podcast. Simply hit the play button below and learn how you can make you firm more profitable.
Basically it’s simple, if you’re spending time on anything that isn’t generating more work, or working directly on client files, you are wasting money. No income earner at your firm should be doing work that a non-income earner could. It starts with you, but that should be your rule of thumb for all of your people, lawyers and law clerks and anyone else that generates income. It’s simple math. This is a little harder to implement at the larger firms, but I’ve seen it in action at the smaller ones. And I’ve seen a lot of money left on the table when lawyers and law clerks are taking up valuable time doing low-level admin or tech work. If you don’t have adequate support staff, hire them. You’ll save tons of cash which makes you more profitable.
Over time little drops of water accumulate and form a puddle; growing into a stream, flowing into a river and eventually creating a lake, rushing into the ocean. And that’s exactly how growing your practice or firm works. New habits take time, and with repetition create lasting and impactful results. It all starts with that first drop; or in your case, first step.
