12. Ensuring the Strategy Aligns with Client Goals

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  13. Do Efficient Lawyers Make Firms Profitable or Unprofitable?

  2. Providing Value to Your Client

  Now that building has become optional in the definition of a law firm, we can see the real essence of a law firm — people creating profit. That’s it. So let’s examine the relationship between people and profit.
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  14. Making Associates More Efficient Boosts Profit and Aids Retention

  2. Providing Value to Your Client

  Law firms who commit to lean operations can offer training and mentoring in these skills to associates. This enables associates to make efficient use of their time and keeps them engaged, involved and innovative.
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  15. You Want A Formula For Law Firm Profit? Try this P=CE2

  2. Providing Value to Your Client

  Profit = Client Focus + Efficiency + Effectiveness, or P=CE2. In other words, specialize in your clients and then embrace efficiency and effectiveness in every task, every day. Just as Newton had his first law of motion, so for law firms this is the First Law of Profitability.