[IMGCAP(1)]There is no question that the most profitable firms (defined as high per partner income) in our profession have figured out that leverage and a well managed pyramid is one of the key ingredients. Why is it then that so many firms, and I would suggest the majority, are struggling with just the opposite – an upside-down or inverted pyramid where there are lots of partners and managers but few staff.
We didn’t get here overnight, and I would suggest that few of us planned to be here. We wound up with our top-heavy firms due to a number of factors. Here are some of the primary culprits:
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