Three Challenges for the Ambitious Law Firm Owner
Why is it crucial to build a great life? Can’t you just give your all to building your practice, make a lot of money, and be content with that?
No. That is the biggest lie and the most fatal mistake I see lawyers making.
This is exactly why I started my podcast, Great Practice, Great Life. I created the show I wish I had when I started my practice, one that explains why you need to work on creating a great life and how to begin.
Today I want to take some time to dive a little bit deeper into why I started my podcast and what I hope to get out of it. I’ll also tell you more about what you can expect if you tune in and what you will get out of it. Finally, I’ll give you three challenges that will help you get started in building a great life and a great law practice.
I decided to start a podcast because I’m a lifetime learner. I love to read, explore different countries, and learn new things. When I learn new things, I like to share them.
Additionally, I know some really interesting people who have been tremendously successful. I figure, who better to talk to about success strategies and where better to talk to them than on a podcast?
What to Expect
If you tune into Great Practice, Great Life, you should expect to do a little bit of thinking and work.
My goal is to be your guide from goal to goal. I want to help you save time and money and find quicker and easier ways of building what you want in your practice and life.
Let’s start some of that work right now by talking through the three major challenges every attorney in this space faces.
Challenge 1: Overcome the “Time-Starved” Mentality
This is a service business. Therefore, the more you grow and the more clients and staff you get, the more stressed and time-starved you become.
Now, the ability to implement change is correlated with the amount of time you have to implement change. Maybe you feel like you don’t have enough hours in a day to get it all done.
Here’s the core element of your struggle: You’re stuck. However, you’re not stuck because you’re stuck. You’re stuck at a level of timing, time management, and focus skills that keep you where you’re at.
To move your revenue and team up, you have to start developing focus skills now. Truly, the lid on your firm is your skills.
Together, we’ll open up possibilities for you to open up time. This is what will allow you to get ahead
Challenge 2: Work On Your Business Skills
As a lawyer, you can easily get caught up in the trap that all people want is a great lawyer. That’s a given. However, you have to bundle it with a great business experience.
Being a good lawyer isn’t sufficient anymore. Customer expectations have changed dramatically. They expect a great business experience. Therefore, you have to know when to put your lawyer hat on and when to put your business owner hat on.
Now, how do you improve your business skills? 10% of your time should be invested in becoming a better business owner. If you want to be the go-to firm in your marketplace, you might have to invest 20% of your time (i.e. one out of every five work days). Most lawyers don’t think this way so it’s easy to jump ahead of your competition.
Challenge 3: Build A Great Life
Most lawyers make the assumption that if they make good money and build a great practice, everything in life will take care of itself. That is a fatal mistake.
When you make that mistake, you build a practice that enslaves your life. Your life serves your practice.
On the flip side, designing a great life first will fuel a great law practice. So think about what you want your life to look like first. Inside of that is a practice that serves your life.
A lot of lawyers are burned out. They’ve just focused on their practice for 10 or 20 years and have lost sight of their life. Don’t let that happen to you.
If you want to learn more about how to grow your law firm, check out https://atticusadvantage.com/episode002.