Are You Solving A Hard Enough Problem?

Here is some startling information about the earnings per partner of the very largest US law firms. Your first thought is probably the same as mine - "wow, that's a lot." But look into the detail and a more useful conclusion emerges.

The firm at the top of the rankings - more than $1m per partner clear of number 2, 35% above the average of the top 10 - is there because it breaks an almost universal rule.?

As a rule, the way to make money as a big law firm is to maximise leverage; have as many junior-to-mid-level staff? as possible per partner. The number one firm, however, does it differently. Wachtel Lipton Rosen and Katz? have proportionately more partners, because they "focus on matters that require the attention, extensive experience and sophistication of our partners. We limit the number and type of matters we undertake." In other words, they only do the really hard stuff.?

So what does this mean for you, even if you are not a law firm? It means that the biggest rewards go to those who:

• Can solve the hardest problems, and?
• Know that they can solve the hardest problems.

This is not a strategy for everyone, but could it be one for you? If you don't see yourself as being able to do the really hard stuff, that's normal. Very often those with very highly developed skills don't realise that they're doing anything special. That's because they are so good at it. As one of my associates put it brilliantly, "you can't read the label from inside the bottle."

The rewards of fully understanding where? you are brilliant could be huge. Would it be worth taking a look?