What happens when there simply isn’t enough money to go around? It is not unusual for partners to feel frustrated and thwarted in achieving their personal and professional objectives. Many partners may attribute the firm’s financial problems to what they perceive as the absence of sound management of their firm. As the result, lawyer-managers may at this point begin to examine more closely their role on the “business” side of the firm’s practice.
While both the partners and the lawyer-managers may be aiming in the right direction in an effort to pinpoint the source of the problem, they may want to keep one critical point in mind: Many of the financial problems experienced by law firms are of the attorneys’ own creation.
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