Last week’s post by Josh Reynolds, A Penny Saved, riled lots of commenters who didn’t think dividing expenses into need and want categories was a very useful exercise. Most preferred to think in terms of cost and benefit. Andrew Nettleman, a North Carolina lawyer and blogger, agrees:
Don’t try to maximize profit by minimizing costs. Be smart with how you spend your money, but focus on maximizing revenue even if it means increasing costs. If technology allows you to increase your revenue pull the trigger on that new iPad. Josh was right that you don’t need high tech gadgets to be a good lawyer. But don’t let the argument go so far that you throw the baby out with the bath water. Costs are necessary. Revenue is the goal.
Read A Penny Earned on Andrew’s blog, Practice Procedure.