If you invest a dollar into your law firm, what do you expect to get back?
Why is the answer to this question so important? It helps you decide what initiatives to pursue and what initiatives to cut. It also tells you whether you are building the right financial opportunity for yourself and your partners. If you are only getting a dollar out for every dollar you put in, you’d be better off keeping that dollar. If this is the case, it’s time to rethink the firm’s strategy and take a closer look at the financial “leaks” in the business.