Clearing the Deck: Boosting Law Firm Success with the 90/10 Principle

<p>Watch the YouTube version of this episode <a href="https://youtu.be/Ke07EZ4IFWI">HERE</a></p><p><br>Are you an attorney who is looking to improve efficiency with your firm? In this episode of the Maximum Lawyer Podcast, Tyson discusses the "90/10 Principle" for improving law firm efficiency and profitability.</p><p>Tyson discusses the importance of the 90/10 principle. The principle involves clearing the 10% of cases that are either not profitable for the firm or attorneys don't want to focus on them to create a more lean practice. In order to identify these cases, you need to go through the caseload and pinpoint the bottom 10% by determining the case value. Looking at the financial side of things is a great way to determine this because you can determine how much money it costs to keep the case on the books. </p><p>Figure out how much resources are going towards a case. If it is high, it might be time to cut ties with it. Also consider how much energy is being put towards a case. If the case is sucking a lot of energy and time from the firm, it can be put in that 10%. Once you determine the bottom 10%, look to identify the top 10% of cases for the firm. This is because once you shed the cases you don't want, all that energy will be put towards the top 10%. This could mean delegating your best attorneys to those 10% since they are high priority.</p><p>Ensure this is a recurring process. For example, put time in your calendar once a quarter or once a year to re-evaluate the cases that the firm is handling. This could be changing the bottom 10% and top 10% every 4 or 12 months.</p><p><br>Take a listen to find out how to ensure greater efficiency for your firm!</p><p><br></p><p>00:24 Introducing the 90/10 principle, a variation of the Pareto principle</p><p>2:25 The process of identifying the bottom 10% of cases</p><p>3:20 Redirecting the effort from the bottom 10% of cases to the top 10%</p><p>Tune in to today’s episode and checkout the full show notes <a href="https://maximumlawyer.com/tysonmutrux601">