Keys to Building Key Clients, The "Key Client" Principle

Keys to Building Key Clients, The "Key Client" Principle

For most law firms, practice groups and individual lawyers, the key to building a legal practice is to develop a base of key clients, including clients with whom you have ongoing relationships, in numbers small enough to focus upon, yet large enough to provide a flow of profitable work, and, by extension, some measure of economic stability.

In a sense, all clients are key clients.  As professionals, each client receives our full attention, one at a time.  As businesses, however, law firms and lawyers should analyze their client base, prospective clients and contacts, based on size, profitability and potential.  These two perspectives are not mutually exclusive, since the professional perspective tends to be micro and focused on the here and now, while the business perspective is macro and strategic, focused on shaping the future.  The co-existence of professional and business perspectives has parallels in physician practices, engineering and other professions.

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