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This episode lays the foundation for the importance of a well-crafted business plan that outlines how your law firm serves its clients, your family, and yourself.
From The Cutting Room Floor
In a never-before-heard clip from the studio, RJon and Karli discuss why law firm owners need a business plan they can take action on. He emphasizes the need for every law firm owner to have a documented plan explaining how they plan to:
- Attract clients
- Make sales
- Deliver products or services
- Generate revenue consistently and predictably
- Convert revenue into profit reliably
- Establish systems, processes, and procedures for the business to continue functioning even if the owner steps away
Are You Building A Business Or A Job?
To further illustrate a practical (and profitable) way to approach the mindset around building a business, we play a clip from “Killing Your Ego with Raul Longoria”. In this clip, Raul shares his experience of RJon challenging his new graphic design business. RJon helped Raul realize that he was creating a job for himself rather than a sustainable business opportunity.
Key Takeaways
- A written business plan is crucial for the success and sustainability of your law firm
- Don’t feel bad if you’ve invested in a business without a clear plan; learn from it and move forward
- Build a business that can function independently of you
Links Mentioned
Profit First for Lawyers Workshop
Profit First for Lawyers book
Killing Your Ego, Ep 8 with Raul Longoria
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