There are good clients and better clients. This is a situation most law firms will recognise – the better ones are profitable. Yet how do you work out which clients are valuable to the firm? And how true is the accepted premise that you should nurture small clients because they grow into substantial fee generators and pay back the initial investment you make in them?
For City firm Wedlake Bell, these questions came to the forefront after several months of working with a business coaching organisation. With the legal profession becoming an increasingly crowded sector, particularly with the Legal Services Bill encouraging greater competition in the market, Wedlake Bell sought the assistance of Shirlaws Business Coaching to develop its business and maximise profitability and efficiency.
