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June 20, 2008
Watch your clients' money like it's yours.
The client seems to like your firm--and, importantly, you like the client. You want more. But suddenly the general counsel presents your firm with an intense litigation project or regulatory dispute which will consume a good senior litigator and 2 or 3 associates off-and-on for 18 to 24 months. This results in monthly bills suddenly ballooning to $40,000, $80,000 or more.
From "How Much Money Has The Client Spent So Far?"
Posted by Holden Oliver at June 20, 2008 12:59 AM
Comments
Here's something I am always saying around our firm, which is just a different way at getting at what you are talking about here: "No one matter will ever get us rich." What I mean by that is that we need to watch the fees and costs because the way to make money as a lawyer is to have wildly happy clients who keep coming back and referring others. It is never worth it to "kill" one matter in an effort to make money because doing so will actually just end up killing off future business. Think long term, which is really what your blog is all about....
Posted by: Dan Harris at June 21, 2008 04:04 PM