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Re-investing Profits: Idiocy Or Confidence?

One of the difficult decisions that an independent practitioner is faced with on a daily basis in how much money to reinvest into their law firm.  If I find software or a technology solution which will help me deliver value, I do not hesitate to purchase it and incorporate it into our practice. If I believe that I need another staff person in order to ensure that customer service is delivered, I make that investment without hesitation.

I suppose my business model can best be described as one that is driven by customer service. My fundamental belief is that by providing customer service, the firm will continue to grow and expand.  In short, I can spend money now to ensure greater revenues later. Of course this doesn’t keep me from lying awake at night wondering about profits and losses. 

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