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”You don’t have to have a million dollar law firm to do the things that cause people to have million and multimillion dollar law firms.“
– RJon Robins, author of Profit First for Lawyers
When is the right time to start Profit First? In this episode, we hear from Marie Drake who went from struggling solo practitioner to a profitable multi-attorney law firm owner following Profit First Accounting Principles. She reveals the subconscious sabotage that almost derailed her Profit First journey, a challenge many entrepreneurs face when building wealth.
Marie also shares why one particular segment from Chapter 12 of the Profit First for Lawyers book resonated so deeply. In the clip, RJon explains the principles behind the behaviors of multimillion dollar law firm owners. Marie now understands these principles in ways she couldn’t when she first appeared on the podcast two years ago.
Key Takeaways:
- Start Profit First with small percentages now rather than wait for higher revenue
- Automate profit allocation to remove decision fatigue and emotional interference
- Expect subconscious resistance when building substantial business reserves
- Commit to a 12-36 month testing period before evaluating results
- Having financial security enhances client service quality
Marie’s transformation demonstrates that Profit First isn’t just accounting methodology, it’s the foundation for building a business that serves both owners and clients at the highest levels. Her message to hesitant law firm owners is direct: Get off the fence and experiment with Profit First. After all, what do you have to lose?
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 button below to start plugging the profit leaks in your firm. Your future self will thank you for it!
Connect and Engage
- Connect with Marie Drake directly at www.thedrakelawfirm.com
- Listen to “Just Grow Up” featuring Marie Drake in 2023
- 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!