Profit With Law: Profitable Law Firm Growth

Send us a textShownotes can be found at https://www.profitwithlaw.com/401.Are you struggling to find and retain top talent for your small business? Are you frustrated and overwhelmed with the constant turnover in your business, spending valuable time and resources on hiring and training only to have employees leave shortly after?In this episode of the Profit with Law podcast, you'll hear an insightful conversation with Moshe Amsel and Sid Upadhyay, the CEO of WizeHire, a platform that aims to revolutionize the hiring process for small businesses. Sid shares his expertise on the importance of effective onboarding and the challenges that entrepreneurs face in finding and retaining talent. He highlights the value of WizeHire's customizable onboarding processes and their commitment to supporting businesses throughout the entire employee lifecycle. Whether you're a small business owner looking to improve your hiring practices or simply interested in the topic, this episode offers valuable insights a

Send us a textShownotes can be found at https://www.profitwithlaw.com/400.We've reached Episode 400 of the Profit with Law podcast, and it's time to celebrate the incredible journey we've embarked upon together! To commemorate this milestone, we're bringing you a special episode that distills the wisdom, insights, and invaluable knowledge from our top 5 episodes.Over the years, we've delved into the intricacies of running a successful law practice, transforming your law firm into a thriving business, and navigating the constantly evolving legal landscape. Through interviews with thought leaders, legal experts, and industry visionaries, we've unearthed the secrets to profitability, efficiency, and growth in the legal profession.In this episode, we revisit the most pivotal conversations that have shaped your legal journey. Join us as we re-examine the standout moments, the unforgettable anecdotes, and the game-changing advice from our most popular guests!Whether you've been wi

Send us a textShownotes can be found at https://www.profitwithlaw.com/399.Does this sound familiar? You've been told that the key to scaling your business is simply working harder and putting in more hours. But despite your best efforts, you're still feeling overwhelmed, stressed, and struggling to see the results you desire. The truth is, working harder isn't the answer.In this episode, Moshe Amsel is joined by Josh Fonger, who will reveal the power of systemization and documentation, enabling you to optimize your processes and achieve unprecedented levels of productivity and growth. By implementing these strategies, you can streamline your business, increase efficiency, and finally achieve the scalability you've been longing for.Chapters:[00:00] Introduction to Josh Fonger[7:24] The Work The System Method[11:42] Implementing Systems in a Law Firm[16:29] The Importance of Documentation[20:55] Hire or Create Systems First?[27:06] Where is the Fire?[30:56] The Sales Role[35:00] Systemizing

Send us a textShownotes can be found at https://www.profitwithlaw.com/398.Does this sound familiar? You've been told that the key to scaling your law firm is to work harder, put in more hours, and juggle multiple tasks yourself. But despite your efforts, you're feeling overwhelmed, burned out, and unable to achieve the growth you desire. It's time to break free from this ineffective action that only leads to exhaustion and frustration.In this episode, our guest, Cameron Herold, will share how hiring a second-in-command can help you scale your business to new heights. By implementing this strategy, you can attain the desired outcome of driving growth and achieving remarkable success.Stay tuned and discover the power of having a trusted second-in-command who can help you delegate effectively and focus on what you do best.Chapters:[00:00] Introduction to Cameron Herold[06:16] When to Hire [14:14] Finding the Right Second-in-Command [18:50] Choosing the Right Title for Your Second-in-Command [20:06

Send us a textShownotes can be found at https://www.profitwithlaw.com/397.If you're feeling overwhelmed and stuck in a cycle of analysis paralysis, second-guessing every decision you make, then you are not alone!Join Moshe Amsel and Paul Epstein, an acclaimed leadership expert and two-time published author, as they discuss the art of making better and faster decisions. Paul's extensive background in reviving underperforming teams and driving growth in organizations gives him a unique perspective on purpose-driven leadership. He shares his insights and practical strategies for creating a resilient and high-performing culture through his books, The Power of Playing Offense and Better Decisions, Faster. Paul introduces the Head + Heart = Hands Equation as a decision-making process, urging individuals to consider both logical thoughts (head) and authentic feelings (heart) before taking action (hands). He emphasizes the importance of breaking free from indecision and the fear of outcomes by embracing imp

Send us a textShownotes can be found at https://www.profitwithlaw.com/396.Do you want to increase your law firm's revenue and engagement by building trust and emotional connections with your online audience? Discover the solution to achieve this desired outcome as our guest, Paul Mackiewicz, shares his expertise. Learn how to differentiate your firm and create a unique value proposition that fosters trust and emotional connections, ultimately leading to increased revenue and engagement. Unlock the potential of your online presence and see tangible results by implementing the strategies and insights shared by our knowledgeable guest.In this episode, you will be able to:Navigate through fear and embrace calculated risks to revolutionize your law firm marketing approach.Unravel the influence of community cognizance and personal relationships in facilitating marketing endeavors.Comprehend the pivotal role of transparency in stimulating revenue growth for your firm.Draw correlations between your eagerness to

Send us a textShownotes can be found at https://www.profitwithlaw.com/395.In this podcast episode, Moshe Amsel and Danielle Hendon, owner of Four Corners CFO, discuss the importance of financial management for small businesses. They discuss when it's the right time to hire a fractional CFO, the ideal profit margin, the three profit levers, and the significance of budgets and cash flow. They provide actionable advice and strategies for law firm owners to improve their financial management and profitability.Chapters:[00:00] Introduction to Danielle Hendon[04:35] Transitioning from Corporate to Small Business [13:56] When to Consider a Fractional CFO [19:09] Using Profit First mindset[22:52] Setting Profit Margins[28:49] Three Profit Levers [38:46] Budgeting and Cash Flow for Business Owners[42:44] Danielle’s Parting Piece of AdviceResources mentioned:Check out our Profit with Law YouTube channel!Learn more about the Profit with Law Elite Coaching Program here. Connect with Danielle Hendon: Website | Facebo

Send us a textShownotes can be found at https://www.profitwithlaw.com/394.In this episode of the Profit with Law podcast, Moshe Amsel interviews Carrie Flynn, founder of Virtual Simplicity and fractional CMO and growth marketing consultant for law firms specializing in wills, trusts, estates, and probate. They discuss the importance of having a Chief Marketing Officer (CMO) in a law firm and when it is appropriate to hire a fractional CMO. Carrie shares insights on marketing strategies, relationship marketing, customer advocacy, and the role of SEO in a marketing strategy. She also provides tips on managing marketing initiatives and evaluating performance.Chapters:00:00 Introduction to Carrie Flynn02:25 The Role of a Fractional CMO in Law Firms 11:16 The Right Time to Hire a Fractional CMO 14:35 What a CMO Does and Doesn’t Do 19:41 Determining the Best Marketing Opportunities 24:54 The Importance of Strategic Follow-ups and Communication 26:15 Creating a Referral Partnership or Program36:57 Creative Ways to E

Send us a textShownotes can be found at https://www.profitwithlaw.com/393.In this podcast episode, Rocky Lalvani, known as the "Profit Answer Man," joins Moshe Amsel to talk about prioritizing profit and financial management for business owners. They discuss the importance of financial statements, understanding profitability levers, building awareness without excessive spending, alternative pricing models, value pricing in the legal industry, tracking labor costs and efficiency, evaluating overhead costs, implementing the Profit First system, and determining the right pricing strategy. They emphasize the need for consistency, accountability, and profitability to sustain and expand a business. Chapters:00:00 Introduction04:08 Rocky Lalvani's Background and Journey07:17 The Importance of Financial Statements for Business Owners13:20 The Importance of a Fractional CFO14:37 Keys to Profitability and Profit Levers16:10 Factors to Consider for Business Growth26:56 Value Pricing in Legal Services29:03

Send us a textShownotes can be found at https://www.profitwithlaw.com/392.In this episode of the Profit with Law podcast, Moshe Amsel interviews Tanner Jones, Vice President of Business Development for Consultwebs and host of the LAWsome Podcast. They discuss the future of marketing in the legal industry and how it relates to law firms. Moshe and Tanner dive into the concept of agile marketing and the importance of testing, measuring, and optimizing marketing efforts. They touch on the consumer journey and the importance of nurturing leads and staying top of mind with potential clients. To help listeners take action, Tanner provides an action plan that includes taking an inventory check, establishing key performance indicators, and aligning marketing strategies with goals.Chapters:00:00 Introduction05:50 What is Agile Marketing? 09:41 Understanding the Marketing Funnel 12:11 How Much to Spend During Each Phase of the Marketing Funnel14:44 Phases of Growth and Shifting Marketing Dollars 19:24 How to Find the R

Send us a textShownotes can be found at https://www.profitwithlaw.com/391.In this podcast episode, Moshe Amsel and Taylor Darcy discuss various topics related to running a successful law firm. They emphasize the importance of planning, setting realistic goals, and aligning business strategies with personal values and lifestyle. They also discuss the negative impact of discounting rates and the psychology of money in client relationships. Additionally, they highlight the need for course corrections in business and the importance of being adaptable and open to change. They also touch on the significance of allocating a percentage of revenue to marketing and investing in staff to achieve revenue goals.Chapters:00:00 Introduction to Taylor Darcy08:38 The benefits of focusing on one or two practice areas 11:55 Beginning with the end in mind 16:15 Planning for your desired lifestyle26:17 The psychology of money28:25 Setting financial goals33:23 Course Correcting and the Importance of Taking Action36:55 Flexibility

Send us a textShownotes can be found at https://www.profitwithlaw.com/390.Are you a law firm owner struggling to expand your team? In this episode of the Profit with Law podcast, Moshe Amsel interviews Luis Raul Scott Jr, managing partner of Beta Scott Injury Lawyers and owner of Eight Figure Firm Consulting, to discuss leadership and team development in law firms. Luis shares his valuable insights on the mistakes law firm owners make when expanding their teams and emphasizes the importance of building relationships with employees. Moshe and Luis also explain the concept of Parkinson's Law and the significance of profitability in business growth. Don't miss out on this episode to learn more about growing your firm through leadership and your team.Chapters:00:00 Introduction07:01 The 3 Biggest Mistakes in Expanding Teams11:33 How to Avoid the 3 Biggest Mistakes in Expanding Teams14:27 Leadership and Team Development17:15 When to Hire22:39 The Role of Leadership in Growing Your Firm25:20 Profitability

Send us a textShownotes can be found at https://www.profitwithlaw.com/389.As your business grows, there are more and more moving parts. As a business owner, you may feel you need to ensure everything runs smoothly while also looking for more clients. However, this can also lead you to a path where you want to do anything and everything. But remember: the question you should ask is who, not how. You need to build a business team.We’re here to help you cut through the noise. In our episode today, our guest emphasizes that all law firms need to just focus on two things — networking and people. Margaret Burke joins us to talk about the value of marketing through networking and how your team can help you grow your law firm. She shares ways to build your team culture but also capacity. Here's something impactful: focus on skills instead of job titles.If you are struggling with growing your law firm and wondering what’s next, then this episode is for you.00:00 Introduction7:10 The Value of Networking and Market

Send us a textShownotes can be found at https://www.profitwithlaw.com/388.How much value do you put on visibility and business operations? These two are essential for sustainable business growth, especially for firms. However, this can be challenging if you don’t have a plan and the proper tools. Fortunately, through consistent tracking, leveraging business intelligence tools, and focusing on critical KPIs, you can make data-driven decisions to enhance operational efficiency.In this episode, Kate Eberle joins us to talk about the transformative power of business intelligence. She shares valuable insights about understanding your business better and manually monitoring operational processes. Kate also discusses the crucial role of BI in making data-driven decisions that lead to increased profitability.If you’re seeking practical ways to steer your businesses toward success, be sure to tune in to this episode.00:00 Introduction1:14 About Kate 4:49 Visibility and Understanding Operations7:43 Starting Points to U

Send us a textShownotes can be found at https://www.profitwithlaw.com/387.There's no one-size-fits-all marketing formula to marketing a law firm. In the legal field, as in any business, failure is a part of the journey. However, rather than viewing setbacks as defeats, see them as opportunities for growth and improvement. Analyze your mistakes, learn from them, and dust yourself off. With diligence and putting trust in the process, your law firm's growth potential is limitless.In this episode, Luke Russell joins us to discuss why it’s okay for law firms to fail in their marketing ventures. He emphasizes that the key is finding a marketing strategy you genuinely enjoy. He also encourages us to use social media as a relationship-building tool, not a channel for getting attention. Most importantly, Luke urges lawyers to embrace experimentation, recognizing that failure is integral to successfully marketing a law firm.If you want to know how to start building a marketing approach that captures your pers

Send us a textShownotes can be found at https://www.profitwithlaw.com/386.You've got eight solid hours of sleep, yet you don't feel rested. As entrepreneurs or law firm owners, getting enough sleep is critical to ensuring your business succeeds. But there's more to sleep than hopping into bed and closing your eyes. You need better sleep quality — which means having phases of deep and dream sleep and sleeping longer.On this episode of Profit with Law, Tanessa Shears, a health consultant and kinesiologist, shares the role of good-quality sleep in optimizing productivity, resiliency, and focus for entrepreneurs. Tanessa explains various strategies to improve sleep and optimize sleep opportunities, including home redecoration and dieting tips. The episode delves into the science of sleep, the benefits, and the consequences of neglecting it. Tune in to hear the eye-opening conversation on how entrepreneurs can leverage dream sleep to scale their businesses and lead fulfilling lives.If you're a

Send us a textShownotes can be found at https://www.profitwithlaw.com/385.Law firms of every size often need help with lead generation and conversion. Why? The phone is ringing, your receptionist is talking, and you're sending emails. So what's going on? What are lawyers doing wrong when it comes to marketing a law firm?In this episode of Profit with Law, Philip Fairley joins us to discuss marketing a law firm — and you can use his methods for any business. Follow his journey as a business person in the tech and legal industry. Discover the necessities for marketing your services.   Tune in to learn what too many law firm owners miss when marketing a law firm.00:00 Introduction2:30 The Life Story of Philip Fairley13:06 Building Upon the Legacy of Rainmaker22:17 Marketing a Law Firm: Spending Money to Make Money31:09 The Value of Having a Lead Intake Specialist44:27 Funneling Clients to Unlock Peak Profitability48:51 Updated Techniques for Marketing a Law FirmResources mentioned:Subscribe to Profit w

Send us a textShownotes can be found at https://www.profitwithlaw.com/384.Ethics is an integral part of any professional practice. But be that as it may, it is a fact that lawyers are also human and are susceptible to making errors. There are so many areas in ethics lawyers can miss. However, the repercussions for these mistakes can be more grave as legal entities. That said, lawyers bear the responsibility of being proactive, well-informed, and up-to-date with legal ethics guidelines.In this episode, Daniel Siegel joins us to discuss the most common violations of ethics lawyers and law firms encounter. He also delves into the number one source of client complaints with lawyers: mismanagement of communication. Daniel shares actionable tips on managing time and client expectations, handling IOLTA, and law firm equity stakes.The ethics lawyers have to follow may seem complex, but ignorance is no excuse. If you want to avoid ethical pitfalls as a lawyer, this episode is for you.00:00 Introduction2:59 Daniel’s St

Send us a textShownotes can be found at https://www.profitwithlaw.com/383.On paper, most people might think that they want the most efficient lawyer. But the truth is, when someone needs legal help, they’re not looking for the lawyer with the most successful cases. They want the lawyer who cares about them — someone really in their corner. Put yourself in their shoes. Who would you rather work with: a machine, or someone you know, like, and trust? Be the person who calls them back, who assures them that everything will be alright. Share a piece of your story, build a human connection, and create an authentic relationship.In this episode, Neal Goldstein joins us to talk about the importance of building a human connection with clients. He also shares how his challenging childhood shaped his values and the story of how he became a personal injury lawyer. Neal emphasizes that personal connections and humanizing your relationship are key to fostering a repeat client base.If you want to know how to create a human c

Send us a textShownotes can be found at https://www.profitwithlaw.com/382.You're just a small company, so surely cybercriminals won't target you, right? Or maybe you're thinking, "We're a really big company; no one would dare target us." The truth is both of these statements are wrong. Cyber risk threatens everyone — as long as you make yourself an easy target. That's why everyone, whether you're a nine-figure law firm or a small corner shop, should learn how to get into cybersecurity.In this episode, Kip Boyle discusses why and how to get into cybersecurity. We review basic security procedures that drastically reduce your cyber risk and explain one of the most common attacks.If you’re a business with any kind of digital presence, this episode is for you.00:00 Introduction7:19 Who Is Kip Boyle?11:32 How to View Cybersecurity Risks23:23 Understanding Phishing30:16 How to Get Into Cybersecurity40:36 What Kind of Client Needs Cybersecurity?50:09 Kip's Parting Advice: