Practice Management

Revisiting "leverage".

By Dan Hull

Stop working for a moment. Yes, we said that. More accurately: stop for a few moments. The one non-billable thing you should read and digest this week: "The Great De-Leveraging" at Adam Smith Esq. (Bruce MacEwen). It's long--but read it anyway. Here is just one excerpt in this "must-read" tome:

Non-equity lawyers don't have to beat their brains out. So they don't. Their deal?again, a perfectly rational one, to them?is that, premised on good behavior, they have a job essentially for life at, say, $350,000 to $450,000/year, adjusted for inflation.

If you think that's not an attractive deal, I suggest you immediately take the elevator down to the street and ask the first ten people you encounter if they'd like such a job.

Full post as published by What About Clients? on March 12, 2009 (boomark / email).