Choosing between food and rent
In a conversation today with a client of mine, he presented me with an interesting dilemma. He is a sole practitioner with two associates. They both acknowledged that they were down to 50% capacity.
His dilemma now: What is his best choice?
1. Fire one of the two lawyers
2. Take work from his desk and transfer it to them … this would give him more time to market the firm or more leisure for himself, but it wouldn’t immediately increase the firm revenue
3. Have the two associates begin to focus more on practice development efforts that are within their comfort zone to take up the slack time and hopefully succeed in additional revenue
What are your thoughts? Are there other options you can suggest?
He would like to keep both associates fully occupied. But, if he can’t, it’s like choosing between food and rent. You need both but can’t afford to pay full boat to do so.Tags: Cash Flow - Finances
Categorized in: Cash Flow - Finances