Accommodation: Making Money in Legal Services Is About Finding More Time to Work
The notion of a ‘factory practice’ gets a bad name among lawyers, who retain a burning desire to exist as white tower intellectuals . Conversations about revenue and efficiency only get in the way of a good conversation about Supreme Court cases from the late 1880 s. Ah, the Gilded Age, indeed. But, really, it’s the law firms that can accommodate the most work, that make the most money. Lawyers often think it’s pricing, that makes them money . It’s not . In specific geographic areas, for specific practice areas, lawyers charge about the same, across the board. What really separates the law firms that make the money versus those that don’t (make as much of the money ) is how many widgets they can make . In an environment where legal services is becoming commoditized, and in which consumers continue to exhibit increasing price sensitivity, it only makes sense that efficiency would be the ultimate answer. ...