The way to a quality practice is through quality clients. First, you must clarify your firm's long-term goals. Second, you must decide which clients will be most profitable as your firm prepares to meet its goals. Finally, you must determine the best way to inform your potentially unprofitable clients that they would be better served elsewhere. It is helpful to have a set of specific criteria by which to judge whether to take on a new client.
Many firms use checklists to evaluate the business potential of prospective clients.
She is the author of three books and numerous magazine articles. These are lyrics to live by if your firm has clients who cost you more than they could ever pay. The costliest clients are those who don't pay their bills or who pose high litigation risks. Unpleasant clients also take a toll on your staff's morale. Difficult clients can cost you indirectly, too.