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Leaving it on the Table

By RussHaskin

I have a nasty little habit of tossing change down in random places in my home, office and car and subsequently losing it. All of my co-workers know that if they need change they can just dig around my desk drawers. Sometimes I find it later, sometimes I don?t. I realize that it is a poor habit, and for a guy who looks over the family finances with a fine tooth comb, ironic as well. My wife finds this very frustrating and just recently she equated the amount I had probably lost over the years to a flight to Boston and a couple of ?Green Monster? tickets to see my beloved Red Sox at Fenway Park. Now in reality I think behind the scenes she was equating it to a shopping spree at Pottery Barn, but still the point hit home. She had nagged me many times about this but it wasn?t until she made the opportunity cost of my poor habit into something tangible that it really sunk in. I think the same theory holds true with the drivers of profitability in a law firm. We talk about losses in realization, poor inventory management, and capacity as a detriment to firm profitability, but do we do a good enough job in making it tangible? Dollars lost to these practices for even 50-100 attorney firms fall into the millions range, but again is it sinking in? Click the post title to read more at MorePartnerIncome.net.

Full post as published by More Partner Income on May 01, 2009 (boomark / email).