Profit with Law: Profitable Law Firm Growth

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Shownotes can be found at https://www.profitwithlaw.com/384.

Ethics is an integral part of any professional practice. But be that as it may, it is a fact that lawyers are also human and are susceptible to making errors. There are so many areas in ethics lawyers can miss. However, the repercussions for these mistakes can be more grave as legal entities. That said, lawyers bear the responsibility of being proactive, well-informed, and up-to-date with legal ethics guidelines.

In this episode, Daniel Siegel joins us to discuss the most common violations of ethics lawyers and law firms encounter. He also delves into the number one source of client complaints with lawyers: mismanagement of communication. Daniel shares actionable tips on managing time and client expectations, handling IOLTA, and law firm equity stakes.

The ethics lawyers have to follow may seem complex, but ignorance is no excuse. If you want to avoid ethical pitfalls as a lawyer, this episode is for you.

00:00 Introduction

2:59 Daniel’s Story

6:42 The Most Common Areas of Ethics Lawyers Get into Trouble

10:14 How to Do More in Less Time

18:23 Interest on Lawyers Trust Accounts (IOLTA)

22:26 On Flat Fee Billing

26:02 What is a Formal Opinion?

28:36 Ownership and Equity Stakes in Law Firms

36:00 Daniel’s Parting Piece of Advice

Resources mentioned:

Subscribe to Profit with Law’s Youtube channel for exclusive content!

Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.

Learn more about the Profit with Law Elite Coaching Program here.

Episode 379 - Cultivating Endless Referrals The Power of Relationships with Bob Burg

Connect with Daniel: Website

How to Do More in Less Time by Daniel Siegel

Read Daniel’s books for more on legal ethics!

Maximum Lawyer

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Shownotes can be found at https://www.profitwithlaw.com/383.

On paper, most people might think that they want the most efficient lawyer. But the truth is, when someone needs legal help, they’re not looking for the lawyer with the most successful cases. They want the lawyer who cares about them — someone really in their corner. Put yourself in their shoes. Who would you rather work with: a machine, or someone you know, like, and trust? Be the person who calls them back, who assures them that everything will be alright. Share a piece of your story, build a human connection, and create an authentic relationship.

In this episode, Neal Goldstein joins us to talk about the importance of building a human connection with clients. He also shares how his challenging childhood shaped his values and the story of how he became a personal injury lawyer. Neal emphasizes that personal connections and humanizing your relationship are key to fostering a repeat client base.

If you want to know how to create a human connection with clients, this episode is for you.

00:00 Introduction

3:52 Neal’s Story

7:31 Navigating a Rough Childhood

11:02 Sharing Your Story and Building Relationships

14:48 Achieving a Level of Success Early on in Your Legal Career

19:21 Getting Clients as an Established Law Firm

27:23 Becoming a Lawyer

31:53 Why Clients Leave Lawyers

33:48 Neal’s Parting Piece of Advice

Resources mentioned:

Subscribe to Profit with Law’s Youtube channel for exclusive content!

Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.

Learn more about the Profit with Law Elite Coaching Program here.

Episode 379 - Cultivating Endless Referrals The Power of Relationships with Bob Burg

Connect with Neal: Website

Who's In The Waiting Room?: Create the Life You Want through the Power of Authentic Relationships by Neal Goldstein

Goldstein and Bashner

Why won’t my lawyer return my phone calls?

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Shownotes can be found at https://www.profitwithlaw.com/382.

You're just a small company, so surely cybercriminals won't target you, right? Or maybe you're thinking, "We're a really big company; no one would dare target us." The truth is both of these statements are wrong. Cyber risk threatens everyone — as long as you make yourself an easy target. That's why everyone, whether you're a nine-figure law firm or a small corner shop, should learn how to get into cybersecurity.

In this episode, Kip Boyle discusses why and how to get into cybersecurity. We review basic security procedures that drastically reduce your cyber risk and explain one of the most common attacks.

If you’re a business with any kind of digital presence, this episode is for you.

00:00 Introduction

7:19 Who Is Kip Boyle?

11:32 How to View Cybersecurity Risks

23:23 Understanding Phishing

30:16 How to Get Into Cybersecurity

40:36 What Kind of Client Needs Cybersecurity?

50:09 Kip's Parting Advice: Be More Difficult

Resources mentioned:

Check out the new Profit with Law YouTube channel!

Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.

Learn more about the Profit with Law Elite Coaching Program here. 

Connect with Kip Boyle: LinkedIn | Twitter

Cyber Risk Management

Cyber Risk Management Podcast

Get a free copy of Fire Doesn’t Innovate through the Cyber Risk Management and Profit with Law Collaboration

Lastpass

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Shownotes can be found at https://www.profitwithlaw.com/381.

We live in a society that gives great value to hustle culture. But when you keep going without pause, the energy you harness flows into the work you’re doing. This negative energy manifests in your body, spirit, and outcomes. It’s a disservice both to yourself and the people you’re serving. So take a pause and align your energy to be the best version of yourself. That’s when you become unstoppable.

In this episode, Emily Aarons joins us to talk about the power of meditation and energy alignment. She shares how to incorporate energy work in your life through 1-minute daily meditations. Emily also delves into the importance of trusting our intuition and explains how the seven chakras manifest in our bodies.

Running a firm is no easy feat. If you are struggling to take a pause and tune in with your body and spirit, then this episode is for you.

1:23 Emily’s Background

6:19 Energy Work and Intuition Building

15:23 Listen to Your Voice

15:55 Emily’s Healing Work: Meditation and Intuition

21:21 Incorporating Meditation into Your Daily Life

23:21 Taking a Pause and Tuning in

30:42 Doing Energy Work

33:32 How Doing Energy Work Manifests in the Body

38:20 The Seven Chakras

42:56 What Taking a Pause Really Means

51:36 Emily’s Parting Piece of Advice

Resources mentioned:

Check out the new Profit with Law YouTube channel!

Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.

Learn more about the Profit with Law Elite Coaching Program here.  

Episode 107 - Rise of the Digital CEO with James Wedmore

Connect with Emily: Website | Instagram | Facebook | LinkedIn | YouTube

Align and Unstoppable Podcast

Integrated Energy Alignment Practitioner Training

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Shownotes can be found at https://www.profitwithlaw.com/380.

There is only so much an independent lawyer running their own practice can do. Although feasible, your limited time and business expertise hold you back from achieving maximum profitability. Stacking workload from multiple responsibilities means fewer clients served and increased chances of oversight. Missed calls, lack of rapport, and collections issues can all contribute to a loss in profit. What you need is to hire key administrative staff to reduce workload. 

The optimal setup for a law firm has lawyers focused on legal work. This frees up time for more clients and ensures efficiency to unlock peak profitability.

In this episode, Brett Trembly joins us to discuss his new book, 24 Months to Freedom: How Modern Law Firms Use Smarter Staffing Solutions to Fast-Track Their Way to Success. He explores how you can resolve the issues a solo lawyer faces by building a support team. Brett also highlights the benefits of hiring offshore talent. 

If you are considering support staffing solutions to boost your profitability, then this episode is for you. 

00:00 Introduction

5:04 24 Months to Freedom: Towards the Liberated Lawyer Lifestyle

10:25 The Business of Law Firms 

14:31 How to Avoid Missed Opportunities

19:41 Lead Generation and Retention Roles

30:29 Billing and Collections Issues

45:14 Keeping Yourself and Clients Comfortable

Resources mentioned:

Check out the new Profit with Law YouTube channel!

Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.

Learn more about the Profit with Law Elite Coaching Program here. 

Episode 128 - Doubling Your Revenue with Virtual Staff with Brett Trembly

Episode 342 - Taming the Email Monster with Brett Trembly 

24 Months to Freedom: How Modern Law Firms Use Smarter Staffing Solutions to Fast Track Their Way to Success  

Connect with Brett: LinkedIn | Twitter

Trembly Law Firm 

Get Staffed Up: Website | LinkedIn | Instagram | Facebook | Twitter | (866) 763-4405

Get $750 off your first virtual assistant onboarding when you sign up with Get Staffed Up through www.profitwithlaw.com/getstaffedup.

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Shownotes can be found at https://www.profitwithlaw.com/379.

Sales and marketing strategies come and go. But one method that never goes out of style is word of mouth—referrals. As a lawyer, doing business doesn’t only mean being good at your practice. You also have to know how to sell your services. 

The problem is many lawyers have preconceived notions about what it means to be in sales. So first, you have to reframe your understanding of selling. It's the first step to developing relationships in a way that people will know, like, and trust you enough to refer you endlessly.

In this episode, Bob Burg joins us to explain how to build relationships that lead to endless referrals. He walks us through how lawyers can reframe their understanding of selling. He then shares his system for developing and maintaining relationships and navigating referring business to somebody.

If you want to know how to start building a business on referrals, then this episode is for you.

00:00 Introduction

2:29 Bob’s Background

9:32 Reframing the Understanding of Selling

15:27 How to Build a Business on Referrals

19:07 Developing a Relationship with People You Interact with Every Day

26:07 System to Maintaining Relationships

32:10 Writing a Thank You Note

37:43 How to Navigate Referring Business to Somebody

41:31 Bob’s Parting Piece of Advice

Resources mentioned:

Check out the new Profit with Law YouTube channel!

Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.

Learn more about the Profit with Law Elite Coaching Program here. 

Connect with Bob: Website

Subscribe to Bob’s Daily Impact email

Download a copy of Bob's personalized notecard and notepads!

The Go-Giver by Bob Burg and John David Mann 

Get access to Bob’s 10 Feel-Good Questions!

The Go-Giver Success Alliance 

Zig Ziglar’s books

Tom Hopkins’ books

Endless Referrals: Network Your Everyday Contacts into Sales by Bob Burg

How to Win Friends & Influence People by Dale Carnegie

Think and Grow Rich by Napoleon Hill

Psycho-Cybernetics by Maxwell Maltz, MD, FCIS

As a Man Thinketh by James Allen

The Greatest Salesman in the World by Og Mandino

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Shownotes can be found at https://www.profitwithlaw.com/378.

Working at a big business can mean earning thousands of dollars — and who doesn't want a six-figure salary, right? However, it can also cost you hours and hours of your day. Many people, especially professionals used to working long hours, have realized that this isn't what they want in life. Spending whole days at the office to work harder and earn more isn't worth it. Now, the goal is to make a good living and still have enough time to have a life outside of work.

Like many others, attorneys have realized they don't want to spend their entire lives at work. The question now is what to do to achieve that goal.

In this episode, Laura Cowan tells us what you can do to run a successful practice with just two hours a day. She shares how you can start your own estate planning services and elevate your practice by using virtual tools and techniques.

Want to learn how to use the virtual world to make your work as an attorney easier and more efficient? Listen in to our conversation with Laura to find out more.

00:00 Introduction

2:26 Laura’s Work

5:41 Working Fewer Hours and Living More

9:11 Getting Your Costs To Go Down

12:52 Breaking Down the Attorney’s To Do

17:06 Getting Your Audience

22:06 Converting Clients From Your Audience

25:40 The Track to Success

30:33 Your Call To Action

31:28 Laura’s Parting Piece of Advice

Resources mentioned:

Check out the new Profit with Law YouTube channel!

Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.

Learn more about the Profit with Law Elite Coaching Program here.

Law Office of Laura Cowan

Check out 2-Hour Lifestyle Lawyer and book your discovery call

Park Slope Parents

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To request a show topic, recommend a guest or ask a question for the show, please send an email to [email protected].

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Shownotes can be found at https://www.profitwithlaw.com/377.

Anyone can start a business or law firm. Creating success is the real challenge. But success means different things to different people. For some, it's nothing more than the bottom line. Others want to leave a lasting legacy of financial success, such as generational wealth, a stable business, or a contribution to the community — ultimately, you define your goal. However, reaching that goal can come down to a formula.

In this episode, Michael Smikun joins us to talk about creating success for the business side of your firm while continuously creating value and building a lasting legacy. He shares the formula he used to get financial, time, and impact freedom.  

If you want to bring success and leave a lasting legacy through your business, then this episode is for you.

00:00 Introduction

5:55 Michael’s Background

10:13 The Three Circles of the Law Firm Growth Formula

19:33 Michael Smikun’s Formula for a Successful, Lasting Legacy

28:24 Unlocking and Achieving Business Success for Your Law Firm

34:49 A Lasting Legacy of Client Relationships 

40:17 Michael’s Advice for Lawyers & Entrepreneurs 

Resources mentioned:

Check out the new Profit with Law YouTube channel!

Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.

Learn more about the Profit with Law Elite Coaching Program here. 

Connect with Michael: Email | LinkedIn

Join Michael’s weekly Unblinded shared experience.

Living Forward by Michael Hyatt and Daniel Harkavy

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To request a show topic, recommend a guest or ask a question for the show, please send an email to [email protected].

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Shownotes can be found at https://www.profitwithlaw.com/376.

Student debt can be a significant financial burden for many people, but it is a challenge that can be overcome with the right strategies and mindset. One effective strategy is to create a budget and pay off high-interest loans first while exploring options for loan forgiveness or refinancing. Additionally, seeking resources and support from student loan specialists can provide valuable guidance and assistance in managing student debt.

In this episode, Christie Arkovich joins us to share some valuable tips on how to pay off your student debt, including applying for an IDR waiver, the benefits of paying more than the minimum payment, refinancing your loans, and looking into forgiveness programs. 

If you've been struggling with student debt for years — or know someone who has, this episode is for you. You can pay off your debts — you just need the right strategy.

00:00 Introduction

4:24 Christie’s Background

12:41 What You Can Do to Pay Off Your Student Loan

18:25 Don’t Wait for the Deadline Before You Pay Off Your Debts

21:12 New Repay vs. Old Repay

25:57 How Public Service Can Grant Forgiveness

29:01 Helping Clients with Student Loans Pay Off Debt

Resources mentioned:

Check out the new Profit with Law YouTube channel!

Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.

Learn more about the Profit with Law Elite Coaching Program here. 

Connect with Christie:  Website | LinkedIn | Facebook | Youtube

Federal Student Aid is the largest provider of financial aid for college in the U.S. Understand aid, apply for aid, and manage your student loans today. https://studentaid.gov/

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Shownotes can be found at https://www.profitwithlaw.com/375.

Technology has made many things in the world much easier. Today, almost everyone everywhere uses technology to access information, make processes smoother, and solve problems. Over the years, various industries have adopted tech solutions for data analysis, customer management, and much more. The legal industry has taken its time, but it’s catching up with the early adopters. With the right tools, life can be easier and lawyers can improve the way they run their firms.

Bim Dave has worked in legal technology for over 20 years. In this episode, Bim joins us to talk about how you can benefit from technology in the best way possible. He shares how he and his company, Helm360, provide creative technology solutions that firms can implement to solve unique problems. Bim shows law firms that there is no need to fear technology. Instead, it is something to be embraced and used to improve lives.

If you have a problem you’re struggling with, what you might need is a technology solution. Don’t miss this episode to learn more!

00:00 Introduction

3:08 Bim and Helm360

7:48 The Problems That Need Solutions

11:40 Who Can Benefit from These Technology Solutions?

16:44 Improving Solutions

20:42 Predicting the Future with Technology

26:44 The Cost of Technology Solutions

28:56 Bim’s Final Advice

31:32 Staying Profitable through Technology

Resources mentioned:

Want to implement what you’ve learnt in this episode? Download the Action Guide, a workbook designed to help you process and implement the knowledge gained from this interview.

Learn more about the Profit with Law Elite Coaching Program here.  

Connect with Bim Dave: LinkedIn

Find out more about what Helm360 can do and contact them.

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To request a show topic, recommend a guest or ask a question for the show, please send an email to [email protected].

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