The Law is Both A Profession and A Business.

The law is a profession. That’s a fundamental truth. Professionals are bound by a set of ethics and govern themselves accordingly.

It’s also true the law is a business.

You can respect the law as a profession, but also treat it like a business. These concepts are not mutually exclusive.

Being mindful of the business aspect of your practice leads to good decision making. Treating your practice as a business keeps you focused on productivity, sensible about the expenditure of time and resource, and keeps you from tilting at windmills.

A key difference between employees and owners is that owners consistently and mindfully recognize, appreciate, and respond to the business component of law firm life.