Judd Kessler, Esq., the CEO of Abacus Data Systems discusses the 6 simple reasons law practices fail.
He states that with the current economic downturn, a lot of law firms are failing and this trend will likely continue. Firms that could make it through difficult times before (they were able to cover up their weak spots during better economic times) now must face the reasons their law practices are struggling, and prepare for the worst.
This might, according to Judd Kessler Esq., be a great opportunity for some law firms to identify and focus on weaknesses and turn things around by emulating the traits of more successful law firms – an effort that will “benefit a firm immediately by lowering the risk of failure and providing the long term benefits of more predictable growth and profitability. ”
- 1. poor money management and financial planning
2. inadequate investment in technology
3. ineffective leadership
4. ineffective management and guidance of associates and staff
5. inability to prepare and implement effective marketing strategies
6. problems ensuring client satisfaction
According to Mr. Kessler, a successful practice must take a hold of all of these things – and there is no better time than now to start working on improving all of these aspects of your legal practice. Learn more on the Rainmaking Essentials Free Webinar on Demand above.
Judd Kessler, Esq., the CEO of Abacus Data Systems in San Diego, CA. www.abacuslaw.com
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