The business of law — success lies in firms’ evolution to businesses that deliver services

By Andrew Jackson

Who do you see in the bathroom mirror each morning? A lawyer? A businessperson? Both?

The idea that law firms need to ensure that they operate in a financially sustainable way is hardly a new one. The industry has made huge strides in this regard in recent years, managing their affairs more efficiently and effectively as a means to counter an increasingly tough commercial environment.

But is there more still to be done? The answer, in our view, is a resounding ‘yes’. Regardless of a firm’s size, specialisation and market sector, it has become essential to have a robust business model, improve cashflows and protect profit margins. The alternative, as numerous firms up and down the country are finding, is to face the threat of oblivion…

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