It is a safe claim that you, like many lawyers, get eighty percent of your work from twenty percent of your clients, aka whales.  As the image depicts, having one or two whale clients who anchor your practice and consistently refer meaty or voluminous work will effectively provide your legal practice with value, industry and knowledge expertise, stability and economic success.

To maximize your profitability, you want to have at least one whale in your influential twenty percent of clients. Too frequently, you might not analyze your work in terms of having whales and, at worst case scenario, take your steady and lucrative mandates for granted.

Practising law is a business and time should be your biggest ally as it is one of your dearest assets. Regardless of which billing structure you use per client matter, one of your mainstay responsibilities and motivations in your practice management should revolve around spending and tracking your time and efforts effectively and precisely.

Your hours reflect a comprehensive canvass of your practice: new clients and work that you have brought into your firm; your work ethic and loyalty to the firm; your expertise, leadership and business development efforts; and your ability to service the needs of clients and other lawyers in your firm.