In recent years, many firms have reluctantly bitten various bullets and abandoned practice areas that can no longer support their fee structures.
Signs That Your Service Has Matured
In recent years, many firms have reluctantly bitten various bullets and abandoned practice areas that can no longer support their fee structures. Long before the firms' decided to get out of those businesses, though, many lawyers practicing in those areas suffered steady diminution of their earning power, professional satisfaction and internal prestige. This unnecessary human cost could have been avoided, or at least minimized, if only firms recognized sooner that the services were maturing. If they had, they would have had much more time to prepare their lawyers and ease the inevitable transition to newer, more valuable services. So, what early signs warn alert firms that a service is aging?
By
Mike O'HoroThis premium content is locked for Marketing the Law Firm subscribers only
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