Podcast: Play in new window | Download (Duration: 43:43 — 40.2MB) | Embed
Subscribe or Follow RSS | More
In order to know if you will achieve your goals you first have to know where you are right now. In this episode, Financial Literacy and Strategy Expert, Evelyn Aucoin talks about identifying your Total Owner Benefits and then reverse engineering your way there.
Defining Total Owner Benefits (TOB)
Evelyn stresses the importance of working with a tax strategist to maximize fringe benefits while staying compliant. Law firm owners should define their TOB targets proactively rather than letting them happen by chance.
To attain your desired TOB, Evelyn outlines the following steps:
- Define your Total Owner Benefits vision
- Understand your current financial reality
- Identify milestones, set targets, and track progress
- Analyze your current lead generation and conversion rates
- Know your A & B avatars and focus on serving them
She shares several examples of lawyers who are empowered and selective of the types of clients they serve as part of their Total Owner Benefits of happiness and success.
Key Takeaways
• Define your TOB goals in the context of your financial, personal, and professional aspirations
• Know where you are today in order to create a realistic road map toward your goals
• You manifest with your feet so take action by breaking down your goals into smaller micro-actions
Classic Questions
In this segment, Evelyn shares insights on a core “Profit First for Lawyers” concept: the idea that a law firm should be a self-sustaining entity that works for its owner. She points out the valuable mindset shift of referring to your law firm in the third person to transition from “having a job where you are your own boss” to being an entrepreneur with a freestanding business.
This shift in perspective is crucial and ties in well with a powerful piece of advice from RJon that has impacted Evelyn’s life: “Your life is a reflection of your choices. You are the collection of what you do and what you do is a choice.” This advice emphasizes the importance of aligning actions with goals and taking responsibility for one’s circumstances.
Links
Buy your copy of the Profit First for Lawyers book
Connect and Engage
- Subscribe to the podcast
- Watch episodes on YouTube
- Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook
- Email us your feedback at podcast@profitfirstforlawyers.com
- Order your copy of Profit First for Lawyers today!
