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“There are too many great lawyers with loads of potential, but not enough profits to invest in more consistent marketing and more professional sales systems. Too many of these great lawyers are frustrated and cannot live up to their full potential.” – RJon Robins
In this episode we revisit the seven main parts of every successful law firm and explore what happens when one of these critical components falls out of alignment. RJon walks through five all-too-common nightmare scenarios that plague law firms. He dissects how great marketing with bad sales is as challenging as having great lawyers but lacking financial controls. The kicker? Profit First gives you the tools to solve most of these problems before they sink your firm.
The Seven Main Parts Refresher
We covered these seven parts in detail in season one. Click the link for each part to hear those episodes. Of course, these seven main parts can also be read in Chapter 5 beginning on page 32 in the Profit First for Lawyers book.
When these parts are aligned, your business runs smoothly, grows faster, and you are able to live the life you want professionally, personally, and financially. When they are not? Welcome to the nightmare scenarios which can be found in Chapter 4 beginning on page 21 in the Profit First for Lawyers book.
Five Nightmare Scenarios (And Why They’re Killing Your Profits)
- Great Marketing, Bad Sales
- Great Marketing and Sales, But Not Enough Staff Capacity
- Amazing Lawyers and Staff, But Bad Marketing
- Great Everything, But Poor Infrastructure
- Potential for Greatness, But No Financial Controls
The Profit First Solution
As RJon says: “Profit First solves most of these problems, or rather, implementing Profit First gives you the tools with which you can solve most of these problems.”
Resource: Profit Leak Assessment
The Profit Leak Assessment is a practical, on-demand course to help law firm owners find thousands of dollars in potential profit leaks. Karli teamed up with Evelyn Aucoin, Financial Literacy and Strategy Expert with How To Manage A Small Law Firm to create this resource for law firm owners. Click the link below to start plugging the profit leaks in your firm. Your future self will thank you for it!
Connect and Engage:
- Mentioned: Pop Quiz on pages 26 & 27 in the Profit First for Lawyers book
- Subscribe to the Profit First for Lawyers podcast
- Watch episodes on YouTube
- Follow Profit First for Lawyers on social media: LinkedIn | Instagram | Facebook
- And most importantly, order your copy of Profit First for Lawyers today!