Most law firms are run by owners who are pretty conservative and risk averse. So, most law firms grow pretty slowly, a person here, a person there. Explosive growth in law isn’t really desired or planned for and if it happens there are real growing pains involved.

Now, that’s the birth cycle. All law firms have a death cycle too. And most law firms, once they hit their peak, start to slowly die. Then they become riddled with key man risk and the game becomes finding the right people for the right jobs and having a pipeline to keep the machine running and very few lawyers can manage that.

BIGFIRMs exist basically because lawyers suck at business and can’t see past their own toes in terms of forecasting for or dealing with growth. It’s not ideal.

Also, once a BIGFIRM starts to lose key people or faces a capital crunch things can go south in a hurry.

So, if you’re not in a firm that’s growing, you and your firm are probably dying.

(http://www.autoadmit.com/thread.php?thread_id=5728641&forum_id=2Elisa#48952222)

what exactly are you saying other than businesses tend to be net gaining or net losing revenue/profitability, and because law firms aren't marked to market you don't see day to day fluctuations in value

(http://www.autoadmit.com/thread.php?thread_id=5728641&forum_id=2Elisa#48952237)