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As usual Alistair has hit the nail bang on the head.

Law is a long game. Any professional service business is. It is about building reputation/relationships/contacts/trust, not delivering 10,000 email addresses or a trillion views of your web page.

I do think it is a bit rich blaming it on ABS structure, however. There are plenty of Non-ABS firms that have felt the chill.

if you get your strategy and marketing wrong, the quality of the underlying service isn't here or there: you won't have any clients to show how good you are.

Most of these got it all wrong!

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