One of the key components of determining client profitability is ensuring that your firm is working smarter, not necessarily harder. This concept is growing in popularity among modern workforces, especially those that want to focus on maximizing efficiency. Today, it simply doesn’t cut it to spend energy and resources on a client or attorney that is not providing your firm a return on investment.
This is where client profitability comes in. Coordinating routine “check ups” are key in determining which route your firm should take. You may find that your firm’s favored attorney isn’t actually as successful as she seems, or that a client you considered average is, in reality, pulling in more profits than you once thought. All of this information can and should be used to your advantage.
Sometimes, this analysis can yield some harsh results. Perhaps your favorite client is underperforming, but has strong ties to your firm. Be sure to take into consideration how best to approach the decision-makers of your company, so that your results can be taken into stride and not immediately dismissed. For many, presenting the information is key to making sure that the information is taken seriously.
Regardless of the harsh realities an analysis may yield, the process is still a crucial one. Trust that by confronting the uncomfortable realities of your analysis, you’re one step closer to boosting your law firm’s reputation and profit for the long term.
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Using Client
Profitability to Boost Your Law Firm