Watch the YouTube version of this episode HERE

Are you an attorney who is just starting out or looking to acquire their own firm? In this episode of the Maximum Lawyer Podcast, Tyson speaks with Thomas Moskal, a criminal defense attorney and former chief deputy district attorney. Thomas shares his journey from prosecution to private practice and the challenges of starting his own practice.

Thomas shares his insights on the difficult aspects of starting a practice and things to understand in order to prosper as a law firm owner. Going solo without experience or knowledge in how to practice or litigate is a huge issue. If someone only has book knowledge but doesn't know how to represent a client or how to communicate with a client, it can cause major problems for success. It is important to gain this skill either in law school or through working with more senior lawyers. This will allow you to gain the necessary skills and experience needed to run your own firm.

Thomas speaks to the importance of understanding your value as a lawyer. Value is tied to how good you are as an attorney. If you are experienced and have consistent wins, you will charge more while newer attorneys may charge less so they can get clients. You need to be good at your craft to charge a fair price as well as know your worth and what you bring to the table.

Take a listen to learn more!

10:19 Building the Practice

16:32 Systemic Issues in Defense 

23:34 Flat Fee Structures 

33:05 Scaling Challenges in Criminal Defense 

36:43 Case Management Strategies 

01:06:00 Referrals and Networking 

01:24:12 Long-Term Career Goals

Tune in to today’s episode and checkout the full show notes here. 

Connect with Thomas:

• Website 
• TikTok 
• Instagram
• Facebook  
• Linkedin  
• Youtube
• X 

Watch the YouTube version of this episode HERE

Are you a law firm owner who is looking for ways to make more money? In this episode of the Maximum Lawyer, Tyson Mutrux delves into 14 types of revenue for law firms and offers actionable strategies to diversify income streams.

Law firms and attorneys alike can take advantage of so many streams to make money. There are many ways to engage with clients and colleagues alike and diversify your income stream. Diversifying income streams is an important way to generate more revenue for a law firm. Tyson speaks to the different types of revenue that can bring in money. These include subscriptions, selling templates and courses, charging for partial services like onboarding, partnering with other firms, developing and selling legal software and coaching or consulting.

Take a listen to learn about the 14 types of revenue that can increase your income!

• 01:19 Subscription Revenue 
• 02:19 Service and Product Revenue 
• 04:18 Affiliate Revenue 
• 06:15 Recurring Revenue 
• 08:11 Consulting or Coaching Revenue

Tune in to today’s episode and checkout the full show notes here.

Watch the YouTube version of this episode HERE

Are you a lawyer who is trying to improve their social media presence? In this episode of the Maximum Lawyer podcast, Tyson speaks with Justin Berry, a media and marketing expert about the evolution of media from legacy to new media and its impact on advertising, particularly for lawyers. 

Media, both old and new can be used as an advantage for lawyers as a way to gain traction and clients. A lot of lawyers still use old legacy media, like billboards and tv adverts. In today’s world, this media doesn’t work as well, as new legacy media, including social media, has changed the game when it comes to advertising services. 

Old legacy media does not allow for potential clients to trust you or have the chance to build trust. Social media can help lawyers interact with audiences over many months or years, which can allow people to trust the information you are putting out there.

Creating engaging content as a lawyer can be challenging, but Justin provides some strategies that can be used to make it successful. One strategy is to think about who your audience is and what content they are watching on a daily basis. With this, you can create content around the audience’s interest so the algorithm will send them your videos. Another strategy is splitting your content throughout the week that targets different audiences. For example, if you want to create 4 videos a week, dedicate 2 videos to attorneys and 2 videos to the average client. This way you are connecting with colleagues and potential clients at the same time.

Listen in to learn more!

• 04:32 Authenticity in Media 
• 18:14 Valuing Yourself 
• 20:06 Hiring Insights 
• 24:15 Bad Hires and Character Flaws 
• 27:06 Quick to Fire, Slow to Hire
• 29:45 Identifying Trends in Media 
• 38:15 Team Collaboration in Content Creation 
• 41:17 Content Management Importance 
• 01:15:45 Identifying Audience Interests 

Connect with Justin:

• Website  

Tune in to today’s episode and checkout the full show notes here.

Watch the YouTube version of this episode HERE

Are you a law firm owner who is struggling with perseverance? In this episode of the Maximum Lawyer podcast, host Tyson Mutrux delves into the critical role of perseverance for law firm owners and entrepreneurs.

For Tyson, success comes to those who can endure the pain to keep going. For law firm owners, you need to stick it out and fight through the tough situations in order to rise above it all and make it to the other side. For those that are struggling, there are a few things you can do, in which Tyson uses Carvana as an example of a company who rose to the top after hitting rock bottom. You can reduce costs and restructure debt, improve operations and slim down your workforce.

Tyson provides some actionable steps law firm owners can take to persevere through tough times. One thing is to focus on the long game because success takes time. Big wins are not always going to happen. They will come in waves and it is important to always focus on the ultimate goal, even when things don't go as planned. Make sure to celebrate the small wins to keep momentum going so you and your staff are motivated to keep working hard. Tyson also emphasizes the need to have a good support system around you. It is more important to ensure your colleagues and staff are going to push you to be better and be there to help when needed.

Take a listen to learn more!

• 00:11 Enduring struggles and setbacks as a law firm ownership
• 3:16 Actionable steps for enduring challenges in law firm ownership
• 7:53 Importance of building mental toughness law firm success
• 13:56 Emphasis on viewing failures as opportunities for growth and improvement

Tune in to today’s episode and checkout the full show notes here.

Watch the YouTube version of this episode HERE

Are you a law firm owner who is looking for some advice when it comes to the company’s finances? In this episode of the Maximum Lawyer podcast, Tyson Mutrux engages in a thought-provoking discussion with Brian Feroldi, a seasoned expert in stock picking and financial statement analysis. The conversation centers around the importance of understanding financial statements and how this knowledge can be particularly beneficial for law firm owners.

Brian delves into the importance of financial education for those in the legal field. For law firm owners, it is important to understand how to create financial statements and what it means for a business as it relates to determining success. Determining success can be done by analyzing financial statements and finding out how much profit a company is making, the direction of their financial results and the balance of cash and liabilities. For those who are thinking about acquiring a business, these factors are important to think about.

Scaling a law firm needs to be done strategically or else it can fail. The more successful a law firm is, the more cash they will eat. That is why many firms need lines of credit, because the access to cash in the bank is not always readily available. For firms to stay afloat, owners need to balance growth with having the cash to support it.

Listen in to learn more!

• 1:64 The need for financial statement education for lawyers
• 4:47 The three primary financial statements crucial for analysis
• 15:66 Discussion on cash flow issues faced by scaling law firms 
• 19:30 Discussion on the significance of personnel costs in law firms
• 41:63 Prioritizing long-term relationships and success over short-term gains

Tune in to today’s episode and checkout the full show notes here. 

Connect with Brian:

• Website 
• Instagram  
• X 
• TikTok
• Linkedin
• Youtube

Watch the YouTube version of this episode HERE

Are you an attorney who is looking to transition to person injury (PI) law? In this episode of the Maximum Lawyer, host Tyson addresses a listener's question about transitioning from a defense firm to a personal injury (PI) practice. 

The transition to a PI practice involves a change in mindset from defense to client focused. For those hoping to make this transition, it is important to focus all your efforts on the case and client and to do everything in your power to win but not get consumed by the truthfulness of a client. A strategy to get to this point is understanding how a case affects a person at every level. Think about how the case affects one’s mental health, their professional life and family dynamics.

Transitioning from one practice area to another will not happen without intentional networking with those in the PI field. Starting in a new field like PI will mean a slow gradual climb in cases. Through networking, some other lawyers might send you cases they either don't want or can’t handle. Personal injury cases will include medical terminology that you will need to become familiar with. Get to know what conservative care is and the importance of MRI’s. This will allow you to not only become a better PI attorney but build trust with your client.

Take a listen to learn more!

03:57 The importance of shifting from a defense mindset to a client-focused approach 

7:53 The need to gain trial experience to enhance case values and effectiveness

8:51 The importance of networking with personal injury attorneys 

12:37 Understanding defense strategies to better navigate personal injury cases

Tune in to today’s episode and checkout the full show notes here.

Watch the YouTube version of this episode HERE

Are you an aspiring lawyer who is looking for some guidance? In this engaging podcast episode, Tyson Mutrux and Marco Brown discuss their experiences in Las Vegas and Marco's recent trips to Austin and Houston. The conversation delves into themes of personal branding, respect, and the importance of mindset. 

Tyson and Marco chat about some of the aspects of being lawyers, including some challenges that exist. Marco speaks to how wearing a suit serves as a suit of armor for many lawyers. For some, suits represent confidence to do your job well and respect that is given from other lawyers or clients. Most times, people trust lawyers when they show up wearing a suit because it looks professional.

Marco delves into the importance of using fear as motivation when it comes to working in the legal field. For Marco, he used the fear of failing as a lawyer and disappointing his family as motivation to keep working hard. It is important to not stay in that place of fear, as overtime it can keep you from achieving better. But if you use it as a motivator for a period of time until you get to a more stable place, it can be beneficial. This fear will lead to mistakes early on, but the learning curve will allow you to become a better lawyer.

Listen in to learn more!

• 9:45 The idea that suits serve as a "suit of armor" for confidence and respect
• 17:18 The challenges of running a law firm 
• 18:32 The struggles of starting a law firm during the Great Recession
• 23:17 Using fear as motivation

Tune in to today’s episode and checkout the full show notes here

Connect with Marco:

• Website 
• Facebook  
• Linkedin 
• Youtube 

Watch the YouTube version of this episode HERE

Are you a law firm owner who is struggling with a problematic employee? In this podcast episode of "Maximum Lawyer," host Tyson delves into the critical issue of toxic employees within law firms. He discusses how such individuals can negatively impact team morale, productivity, and client relationships. 

Toxic employees can really affect the work environment, where business, relationships and the bottom line can suffer. Toxic employees are those with negative behaviors that disrupt the workplace. Red flags include excessive self promotion, hoarding work and hiding incomplete tasks, rejecting support from coworkers, and gossiping. These are traits to look out for to identify the problematic employees on your team.

After identifying the traits, it is important to know how to address toxic employees. It is important to have direct communication with the person and provide an overview of the toxic behaviors they have been doing and what the impact on the team has been. 

Another strategy is to set out clear expectations with a defined timeline for when you expect to see results. Offer training or mentorship to make sure they can improve and change that team morale for the better.

Take a listen to learn more!

• 1:19 Discussion on how toxic employees can harm team morale
• 3:27 Definition of toxic employees 
• 4:41 Identifying subtle behaviors that indicate a toxic employee
• 16:34 Strategies for dealing with toxic employees

Tune in to today’s episode and checkout the full show notes here. 

In this episode, Tyson Mutrux introduces the 2024 State of the Firm Survey—a groundbreaking initiative designed to help law firm owners grow and scale their practices. Tyson explains how the survey aims to answer key questions many firm owners have about compensation, benefits, operations, and more.

By participating in this anonymous survey, law firm owners can contribute to a valuable resource that benefits the entire legal community. The results will be shared in late January 2024 through a live show and downloadable report. For those who wish to receive the report early, there's an option to provide an email after completing the survey (completely optional and separate from the anonymous responses).

Take the survey now at maxlawsurvey.com — rising tides raise all boats!

Key Takeaways:

• The survey is completely anonymous and takes 10–15 minutes to complete.
• Results will provide insights on law firm operations, compensation, and benefits.
• The live results show is scheduled for late January 2024.
• Contribute to a collaborative effort to grow and improve law firms nationwide.

Visit maxlawsurvey.com now to participate and help create a powerful resource for law firm owners everywhere!

Resources:

• Join the Guild Membership
• Subscribe to the Maximum Lawyer Youtube Channel
• Follow us on Instagram
• Join the Facebook Group
• Follow the Facebook Page
• Follow us on LinkedIn

Watch the YouTube version of this episode HERE

Are you interested in learning more about trademark law? In this episode of the Maximum Lawyer podcast, host Tyson chats with Sonia Lakhany, who discusses her journey in trademark law and her educational brand, 4L. 4L provides legal education in trademark law and can help you understand how to brand a business.

4L is all about providing continuing education to lawyers in a way that has not been done before. It not only tells you what something is, but shows you how to do it, which is a concept that is not popular in the legal field. With experience in trademark law, Sonia began teaching a 2 week course in trademark law which catapulted the business to delivering more courses to help people understand how to trademark and brand a business.

Sonia speaks to the attractiveness of trademark law in comparison to other areas. Trademark law allows for more autonomy and flexibility due to not having to be in a courtroom or having multiple teams doing different work in order to achieve one goal. There is a small barrier for entry in trademark law, which makes it more lucrative as a practice.

Listen in to learn more!

• 2:36 The purpose of Pharrell as an educational brand
• 7:23 The importance of trademark considerations in branding 
• 12:19 The significance of branding in establishing a recognizable identity
• 30:26 Why trademarks are an attractive area for attorneys 

Tune in to today’s episode and checkout the full show notes here. 

Connect with Sonia:

• Website  
• Instagram 
• Facebook 
• Linkedin 
• Youtube