I once had a law partner named Marvin who taught me what he called the “fish theory” of marketing. According to Marvin, marketing was simply a matter of throwing a fish back to every referral source who threw a fish to you. If you were referred a file from someone, you owed that person a file, and so it went.
New lawyers have a lot to learn about both the law, and how to practice law. Typically doing that will take up their entire workday, and then some.
Law firms like to encourage their lawyers to produce as many billable hours as possible. In order to keep the lawyers ‘motivated’, law firms usually set a target number of hours that they expect each lawyer to bill. Some firms like to set the target at a number which is higher than they expect the lawyers to bill.
I once had a partner named George. George had many very loyal clients, and I asked him to explain to me how he did it. This is one of the lessons which George taught me and which I integrated into my own philosophy about being an effective lawyer.
I am, of course. But I don’t have to make sure that everyone else knows it. Whenever I forget this simple truth, the client ends up paying for it somehow.
There is an easy way and a hard way to develop a good client base in the legal profession. The hard way is to work extremely long hours and be phenomenally good at what you do. I have met a few people who have done it this way, but not very many.
I have observed over the years that it is an interesting aspect of human nature (or at least the nature of lawyers) that people tend to value most what they themselves do well.
Some years ago, there was an automobile manufacturer whose products had developed a reputation for breaking down. Rather than re-engineer the products, it launched a major advertising campaign touting the quality of its vehicles.
Whenever someone makes a pop culture reference to the 80’s, 90’s or 2000’s which I don’t get, I always say, “I was busy working.”
The “organizing principal” and basic building block of law firm economics is the billable hour.