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« Marketing with ... Bugs | Main | What Your Clients Really Want »

February 04, 2006

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Comments

Confused?

How is again that the firms are losing money on this? A little math:
2400 hours x $250/hr = $600,000. Assuming a (probably low) 75% realaztion rate still leaves $450,000. Even if the total cost of hiring an associate is $200,000/year including bonus, salary, benefits etc, that still leaves $250,000 in profits.

Thom Singer

Larry-

I once heard someone tell a lawyer to give the following advice to his client to help the client grow his business:

"Fire all your experienced sales and marketing professionals. Afterall, they make a lot of money and always want to try new things and are too creative. THEN, have your senior executives do the sales and marketing...when they have free time, regardless of if they have the skills, personality or the desire to to do business development."

The lawyer thought this was HORRIBLE advice to give his client. Yet it is how he probably runs his firm!!!

I think your point about screening law school candidates for their rainmaking potential is a great idea. But it would take years to see the actual results (which I agree would be HUGE), and I don't think most firms would adopt such a policy if they could not have 100% guaranteed results within the first 6 months.

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