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The quality of your clients = the quality of your practice
If you, like many of your colleagues, have stocked your practice with clients that aren’t a good fit, you’ll spend much of your career feeling frustrated, unappreciated and resentful. What’s more, you’ll never realize your income potential or find real satisfaction in your chosen career. Our research with many lawyers over many years shows that if you applied the Pareto Principle, also known as the “80/20 rule,” to your client base, you would probably find that 80 percent of your income comes from 20 to 40 percent of your clients. The Pareto Principle applies again because this small, quiet 20 percent that can generate up to 80 percent of your revenue only takes up about 20 to 40 percent of your time as well.