This article appeared in Accounting and Financial Planning for Law Firms, an ALM/Law Journal Newsletters publication covering all financial aspects of managing law firms, including: building a law firm budget; rates and rate arrangements with clients; coordinating benefits for law firm partners; and the newest strategies to grow your firm and your career.

Things are what they are. This is one of the central tenets of lean law. In any case, project or scenario, lean says to identify the durable realities, accept them and work with them. When it comes to economic cycles, Big Law does the opposite.