So you’ve managed to make your dream come true by opening your own practice or joining forces with other lawyers and opening your own firm together.
If all goes well, you’ll grow consistently over the next few years. It will take time, but little by little, step by step, your firm will expand and develop. Your interns will become full-time employees, your employees will become partners, partners will become equity partners, etc.
But what is known as “organic growth” is not that straightforward. As firms acquire new clients with new needs, they find themselves bending over backwards to meet those needs and provide the best service, no matter what, even if it means opening new departments or hiring new employees.
When that happens, it’s important to take a deep breath and remember that time is your most valuable resource. Organic growth (or first-world problems…) requires a substantial time investment, as well as good business instincts, of course.