Pretty much everyone involved in legal business development/marketing should have heard of the ‘Pareto principle‘; where, allegedly (because I have some thoughts on this): 80% of your revenue comes from your top 20 clients.
But, have you ever heard of the ‘Pareto optimality‘?
Because, until I read this Seth Godin post I had not.
Which leads to the point of this post – there is something in Seth’s post for law firm leaders who think that lawyers can do it all to really think about:
If someone over there can do their particular work efficiently, and you can trade your particular work to them, everyone comes out ahead.
So, hint if you are a lawyer and:
cannot write a tender, blog post, social media update, newsletter, manage an event, know how to hire employees, etc, etc. – but are a great lawyer,
do what you are good at (lawyering) and hire other professionals (let’s call them ‘Allied Professionals’ in 2023) to take care of this ‘mundane stuff’ for you!
As usual, comments are my own.