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Clients are the canaries that can predict failing firms

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NZ Lawyer | 16 Jul 2014, 10:10 a.m. Agree 0
Research conducted over the past 10 years has reached a surprising conclusion: The best predictor of trouble for professional service firms is the clients, who seem to sense problems well before the firm does
  • Rob Knowsley | 16 Jul 2014, 11:59 a.m. Agree 0
    A key element is procrastination and delay when there are already plenty of warning signs.
    I have a long list of Australian lawfirms since 1988 that touched base with me at least once to talk about getting professional help but never did.

    Many were still strong brands at the time as far as the outward observations went, but problems were emerging clearly enough for some partners to be really concerned.

    Almost all of the firms have ceased to exist.

    Being aware of a problem is only the beginning of successfully dealing with it if you truly know what to do, or get experienced help and take it fully on board.
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