Ask the Mentors
You’ve got questions, we’ve got answers. About the business of the practice of law. The guidance you need to have the practice you want.
“Grow or die!” is a vital mantra in business today, even in the law business. As a solo practitioner, there will come a time when you will be faced with the decision of whether to expand your work or maintain the status quo. If you’re like me, you’ll drool at the chance to make a bigger mark on the world. I’d noticed that my firm’s capacity had maxed out about two years after I opened the doors. I had a deep sense of wanting my work to become “our” work, a work done by a team that joined me in … Continue reading
In this two-part series, I’m going to share how the New Law Business Model can change your practice and your life. Let me start with how it came to be… The New Law Business Model was born after I went out on my own, starting my own law practice, expecting I would follow the model of so many other lawyers and create success and freedom for myself rapidly. Very quickly though, I saw that the old model of law practice is broken. If I followed that model, I would not have anything close to what I considered to be success … Continue reading
I’ve had the good fortune of getting to interview some of the most successful members of our training and coaching programs over the past couple of weeks and I’m beginning to sense a common denominator that I want to share with you. This common denominator is not common among lawyers, frankly. In fact, most lawyers I know and have worked with do NOT exhibit this trait. You might think what creates success is being really good at your practice, being really smart, or even having a lot money. Nope. That’s not what I see as the common denominator among the … Continue reading
I’m often asked how I went from being a stay-at-home mom to a practicing lawyer. Every single time, I have flashbacks of all the separate moments it took to first decide to go to law school, to return to studying full time for the first time in 25 years, all the way to passing the bar and then finally to the decision to be my own boss. None of these were easy decisions at the time, but they feel incredibly liberating in hindsight. When I passed the bar, the job market for lawyers was at an all time low (and … Continue reading
Did you read Martha’s newest article, yet? It’s a good’un. And while the article and Martha’s success is certainly slanted towards Estate Planning, and you might not (yet) practice that… Overall I think it’s important to consider the nature of selecting a practice area. In Jim Collins’ book, “Good to Great”, he talks about The Hedgehog Concept, which you can learn more about on his website. Basically, it defines your sweet spot in business as the overlap of 3 circles: Let’s take a look at each one as it relates to finding the best area of law to practice for … Continue reading
Most lawyers think estate planning is boring because of the way they were taught to do it is all wrong. They also don’t understand how profound and necessary a service it is, either. Fact is, estate planning can be a life-changing and it’s not boring at all. Let me give you a personal example of how important estate family is to the families you already serve: When I was in law school, my father-in-law died. He had spent over $3000 on an estate plan put together so that we, his family, wouldn’t have to deal with the probate court or … Continue reading