In this episode of Great Practice, Great Life®, we flip the script and put thought leader Steve Riley in the guest seat to answer a powerful question: What does it really take to start or grow a law practice in 2025 while staying true to your vision, your values, and your well-being?

Guest host Glenn Gutek and Steve explore the dynamic and ever-evolving landscape of the legal profession, discussing how rapid changes in technology, politics, and economics contribute to the anxiety and stress attorneys face today. Steve shares insights on how lawyers can maintain a healthy balance between their professional commitments and personal well-being. He emphasizes the importance of navigating these challenges while maintaining a clear vision.

Glenn and Steve's conversation also explores the role of vision protection in achieving greatness. It's easy to lose sight of one's aspirations amidst the daily grind, but they emphasize the importance of nurturing one's vision and legacy through strategic action. The fast-paced world, full of social media distractions, requires focused attention and control over where we direct our energy. Steve addresses the detrimental effects of "hurry sickness." He stresses the importance of pursuing meaningful visions, encouraging attorneys not to settle for mediocrity and to maintain high standards in both their personal and professional lives.

As we navigate the influence of AI on the legal profession, we discuss its impact on traditional business models and billing practices. AI offers efficiencies that challenge the billable hour model, compelling law firms to reassess how they provide value to clients. Steve discusses the trend toward hyper-niching, where attorneys can specialize in highly specific subspecialties, enhancing their practice with AI-driven tools.

This episode provides invaluable guidance for lawyers seeking to adapt and thrive amidst the changing legal landscape, making it a must-listen for anyone invested in the future of legal practice.

Thanks to The Best Notary for sponsoring this episode! The Best Notary helps empower attorneys to transcend the physical office and deliver estate plan signings at home statewide, in person or via Zoom. Their Document Concierge service is a white-glove fulfillment solution for estate planners that includes document proofing, printing, witness sourcing, mobile or remote notarization, deed recording, and final portfolio assembly—delivered wherever the client prefers and is available in all 50 states. Visit here to complete a law firm profile form, book a free discovery call, and start outsourcing your document execution. https://thebestnotary.net/services-overview/

In this episode, you will hear:

• Steve Riley discusses the rapid technological, political, and economic changes impacting the legal profession as we approach 2025
• Maintaining a clear vision and high standards amidst the stressors of the fast-paced legal environment
• AI's role in reshaping legal business models and the tension between traditional billing practices and AI-driven efficiencies
• The importance of developing essential business skills, such as communication and relationship building, for legal professionals
• Challenges lawyers face in balancing intense work commitments with personal well-being and family time
• The trend towards hyper-niching in legal practices, leveraging AI to expand specialized subspecialties
• The potential future impact of AI on dispute resolution, billing trends, and the need for lawyers to adapt to maintain their value proposition

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Supporting Resources:

• Glenn Gutek, Practice Advisor
• Steve Riley, Shareholder, Practice Advisor, & Attorney
• Episode Sponsor: The Best Notary
• Episode 047: The Importance and Impact of Leadership on Law Firms with Glenn Gutek and Keith Donovan
• Episode 055: How Can You Improve Your Leadership Impact? With Glenn Gutek
• Episode 075: Succeeding in Personal Injury Law and Living a Great Life with Chip Evans & Glenn Gutek
• Workshop Series: Grow Your Practice With AI (Use discount code AIPODCAST300 for $300 off your registration!)
• On-Demand Workshop: Level Up Your Billable Practice: Unlock Hidden Revenue and Maximize Your Time

Episode Credits

If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com Let them know we sent you.