Follow these steps for a more profitable firm
If you want your solo or small practice to grow and thrive — and who doesn't? — there's no magical elixir to get you where you want to be. It takes some effort on your part, and perhaps a new way of thinking about your firm, but the formula for success can be yours. If you're stuck in a pay-the-rent mode, taking in any client who will pay a bill so you can keep the lights on, you’re on a path to burnout. You work late each night and on the weekends, running yourself ragged just to keep your firm afloat. You have no time for friends or family, a seldom-seen ghost in your own household. The clients you get? They're all pretty marginal — at best — right? To turn your practice around, you need to focus on the "A" and "B" clients and divest yourself from the "C" and "D" clients. The latter monopolize your time, have unreasonable demands and as often as not they don't pay on time or at all. They're vampires, sucking the life blood from your firm. When you focus on obtaining and keeping "A" and "B" clients — but especially "A" — your practice will be...
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