80/20 rule is alive and well - but they didn’t know it!

I recently facilitated a workshop for a 12-partner law firm, looking at marketing activities that would generate new high value clients. By way of preparation I asked each author to bring along a list of their top 25 clients, including current annual fees and potential annual fees.

A fascinating thing happened. While most had filled the page without difficulty, two of the partners couldn’t fill in the whole list - they only had 12 and 7 clients respectively. And guess what - these two earned the most fees for the firm by a huge margin.

My soon to be released book deals with this exact issue - it’s only the quality of the customer/client, not the quantity that matters.