Law firms should be managed as businesses rather than purely as professions, because profitability is essential for client representation, and this requires applying basic business principles and CEO-level leadership to ensure long-term success.
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Is a law firm a business or a profession? Why not both?Added:
Yeah, you know what? Uh being a lawyer, uh you don't really associate that with CEO, okay? You know, CEOs are small businesses or multinational corporations, but a law firm is a business. Um historically, it's been a profession, right? The profession of practicing law. Uh but what I've really gravitated towards in the last, say, 10-plus years is running my law firm like a business. Yes, clients are paramount, and we owe our loyalties to our clients, and we do the best thing that we can for them. But you know what?
If if if a if a law firm's not profitable, you can't represent clients.
And the way to become profitable is to run your business on basic business principles, which require, you know, call it a CEO or leader, uh and that's that's really what I've focused on over the last uh 10-plus years.
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