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Don’t hope that someone will figure out your optimal life goal and then encourage you to strive for it. They don’t know what your life goal is. And they wouldn’t care much if they did. Certainly not as much as you will. Do you know what your life goal is? Do you truly know? You probably have a hesitancy of some sort, and that keeps you from exploring this very important thing. Give yourself permission to find out. Does it feel awkward to think about how you even begin to explore what your real purpose in life is? Are you…
Do you use the same password for everything? If so, you’re in good company. Most people do. And that’s why hackers can easily get into their bank accounts after learning what their password is for Twitter. So, don’t be an easy mark for hackers. But… Don’t make your life harder by using passwords like this either: A$6vGj7*€Klm6! Yes, that password is hard to guess. But it’s also impossible to remember. And really hard to type out. Here’s a clever little system for creating impossible-to-guess passwords. Come up with three random words like: Pug Celery Mop Guess what? You can make…
Most small-firm lawyers waste time, energy, and money on mindless drudgery. Not surprisingly, they feel frustrated. But, even worse, is they’re losing major ground because… Digital technology is rapidly eliminating every kind of low-level work. And it’s massively disrupting every modern business—including law. WARNING: If you waste time, energy & money on mindless drudgery that can be automated or outsourced you’ll be disrupted and marginalized. But if you focus on doing more high-level KNOWLEDGE work and you’ll survive (maybe even thrive). Learn to work “smarter” You need to learn how to make digital technology work FOR you, not against you.…
Working “smarter” means getting more work done, more easily, more quickly, with less friction and less stress. One big key is eliminating that work doesn’t need to be done, or skipping less important steps in a workflow. Learning to do this can be hard for lawyers, at least at first. The trick is learning how to zoom your focus effectively. Allow me to explain……
Writing is crucial in the legal profession. Writing well is a huge advantage. Mainly, because good writing is a sign of good thinking (by the way, so is good editing). So… Do you want to sharpen your thinking/writing using a simple, easy method? It’s a simple method that produces powerful results, but doesn’t take a lot of time. Does that sound interesting? Well, to set this up properly, I first need to tell you about Ernest Hemingway’s trick for overcoming writer’s block. In his book “A Moveable Feast,” he explained his method: “Sometimes when I was starting a new story…
Everyone knows what hard work is, and how important it is. But, what most people do NOT know is how to work smarter. So they spend more time, energy and money doing things that don’t matter much in terms of getting results. They’ve never heard of the 80/20 principle (which I call “strategic prioritization“). Some people, on the other hand, manage to develop a knack for working smarter. Then they figure out how to hire other people who work smarter, which is probably the smartest thing of all. Unfortunately, the path to working smarter isn’t very clear. If…
Have you heard of a book called “Atomic Habits,” by James Clear? Essentially, it reveals a simple, reliable method for achieving any kind of goals both big and small. The information in this book can propel you to a level of success you’ve probably never imagined you could achieve. That’s probably why the book has over 5,0oo reviews on Amazon (with 95% of them being either 5-star or 4-star reviews). Perhaps you’ve never stopped to think about this before, but… Your habits will largely determine the success you have in life. And while you may believe you know…
There is power in simplicity, especially when running a small business. You don’t want a complicated business. You want a boringly, predictably profitable one. Right? Like Craigslist, for example. And, by the way, Craigslist has a horrible looking website. Just take a look… It doesn’t get more boring than that. But, did you know that Craigslist makes $1 Billion per year in revenue? And supposedly about 80% of that revenue is profit. $800 million in profit on $1 billion in revenues. Nice business. Boring, and predictably profitable. How does this apply to your law firm? Well, let’s start with…
The first factor is one I mentioned recently… Know your numbers. You need solid data to run your business. And your law practice is a business. To make good business decisions you absolutely must know your numbers. The next two critical factors for growing a law firm are ones that everyone has heard of (and that I’ve written about several times). But knowing what the other factors are isn’t the key thing that will help you. The trick is to understand how the 3 critical factors are intertwined. Frankly, I hadn’t thought about how important it was to…
It’s embarrassing when you don’t have a firm grip on your finances. It can be disastrous too, which is worse. Not knowing key financial numbers is a regular theme in the TV show Shark Tank. Contestants regularly get peppered with questions like these: What’s your annual revenue? What are your annual expenses? What are monthly revenues and expenses? Are they rising, staying even, or falling (and why)? Those are the easy questions. But here are harder questions that cause contestants to stammer: What’s your average revenue per sale (i.e. client matter)? What’s your average cost to acquire a new customer…
Opportunity is knocking today just like it does every day. If your practice needed a boost two months ago it still needs a boost today. And it will still a boost two years from now too. That’s because… The road to success isn’t paved with good intentions. You know this already… There are no quick fixes. Every day is crunch time. Every day is a chance to seize opportunities. Of course, the opportunities will be invisible if you don’t bother looking. Or if you settle into complacency. I speak from experience when I say this. Fifteen years ago I hated…
Before you can make a good decision you need some basic facts. Can I help you improve your practice? Maybe, and maybe not. So… Here are some useful facts to help you decide. For most of my life I’ve been obsessed with trying to figure out how things work. At some point I realized that the most important things to figure out are how people think, act, and make decisions. Like most of us, I started out with a lot of flawed assumptions about how people think, act and make decisions. For example… When I was young I assumed all…
Alvin Toffler accurately predicted this world we’re living in now back in the 1970s. He predicted it in a famous book called “Future Shock.” There he predicted that computer technology would make change happen so fast that it would be unsettling. Very unsettling. And this unsettling feeling (“future shock”) would be constant because of the rate of social change from computer technology. Computer software is so easy to develop that its development would happen at increasingly rapid rates. That’s what he predicted and he was right. The Future is Here This is the world we’ve been living in…
Katrina taught lawyers in New Orleans how to work better outside of the traditional law office. That was 15 years ago, and our society wasn’t as cloud-dependent as it is now. The corona virus is disrupting a lot of things, but our global internet is working pretty much as it was before the virus’s outbreak in China. Back in 2005 there was no cloud-based practice management software (e.g. Clio or Rocketmatter). There was no Dropbox etc. The average bandwidth was lower then. And not as many people were adept at using WiFi. Now we are all pretty savvy about using…
Would you like to escape the gravitational pull of mindless office drudgery? I recently appeared on the “Wealthy Woman Lawyer podcast” run by Davina Frederick. In that episode we discussed how solo/small firm lawyers can take advantage of technology to run a remote practice, including: Automation tricks that can save you hours of time The scheduling tool every lawyer needs 3 reasons you should start a podcast How to set up a remote office your clients will love And more So if you’re interested in any of those topics, check it out.…
The two most important questions for any small business owner are: What are the best opportunities for improvement or growth? What are the big threats to my business? According to the National Association of Small Business’s recent Economic Report, here are some of the top threats. Which is to say these are the reasons why small businesses don’t make it. No market need: 42 percent; Ran out of cash: 29 percent; Not the right team: 23 percent; Got outcompeted: 19 percent; Pricing / Cost issues: 18 percent; User un-friendly product: 17 percent; Poor marketing: 14 percent; Ignore customers: 14 percent…