"What's your goal for your firm in the next few years?" Jonathan Hawkins asked me this question recently when I was a guest on his podcast.
I know some people think in terms of revenue or profit goals, but I don't.
I've never once sat down and thought, 'I want to grow the firm to $x in revenue or have $x in profit.'
Does that make me a bad business person for not doing that? Maybe.
But, while I acknowledge I do have to run my firm like a business, I do have to also balance it with the fact that practicing law is a profession. We have certain professional and ethical obligations to our clients. The leanest, most hard-driving, profit-extracting business model is not necessarily going to be in the client's best interests.
So here's how I answered Jonathan's questions: "To keep doing a great job for clients, getting great results, and providing the best service possible. I've found that if I do that, I get all the fulfillment I need—both personally and financially."
How do you set goals for your firm? Join the conversation with me on LinkedIn.
