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2 Legal Econ. 30 (1976)
Planning for Growth

handle is hein.journals/lwpra2 and id is 134 raw text is: for by Richard C. Reed T here are two aspects to con- sider in planning for a firm's growth. The first is to plan so that the individual lawyer can grow in skills, capacity and com- petence in order that the firm can grow economically and in its abil- ity to provide legal services to clients. The second, once the proc- ess of growth has commenced, is to anticipate the effects of growth in order to adjust smoothly to the ever-changing needs of the firm as it grows. A poem by Piet Hein illustrates well the principles involved in planning for growth: Richard C. Reed of Seattle, Wash- ington, is a member of Reed, Mc- Clure, Moceri & Thonn, P.S., a professional services corporation with seventeen lawyers and forty nonlawyers. Last Things First * Solutions to problems are easy to find: the problem's a great contribution. What is truly an art is to wring from your mind a problem to fit a solution. The problem is growth and how to achieve it. The solution, then, becomes growth and how to man- age it. Establishing Past Growth and Performance To establish your rate of growth you should make a growth profile of the law firm. This is what I found about our firm: No. of No. of Non- Year Lawyers lawyers 1948 6 3 1959 6 4 1967 8 8 1975 16 28 1976 19 41 Ratio 2:1 3:2 1:1 1:2- 1:2+ In terms of people, our growth has been in the, past nine years. In terms of dollars during those nine years, there has been an increase of three hundred and sixty-one percent in fees billed and received. Here are some other points for you to ponder: 1. What has been your firm's profile- as to people? as to dollars? as to skills? 2. What caused it to evolve as it did? The more important growth to be planned for and accomplished is the growth of the individual lawyer- * in knowledge and competence * in professional skills and ef- ficiency Last Things First copyright PHI Aps, DK-1970, all rights reserved. Used by permission of the author. Doubleday Publishers, New York. These materials were originally presented at the Fourth Annual Institute on Law Office Administra- tion on July 22, 1975, Minneapolis, Minnesota, and have been revised and supplemented. legal economics

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