Things You Should Not Care About

For more great articles and FREE attorney resources visit us: www.Valtimax.com

 

Law Firm LeaderPeople come to me for advice. 

My clients receive direct, customized advice, as they need it.  Those who read my articles get indirect help.

For both groups this guidance is based upon my experience working with hundreds of lawyers and business leaders during the past 24 years, personal experience starting and growing several businesses, and my work developing professional service firms since 2002. I also have extensive advanced education which informs my approach to business strategy.

I like helping people but that’s not why I’m in this business.  I do what I do because I have a unique ability to review a situation, analyze the variables, and develop a solution with a high probability of success. 

That’s my talent. 

Some people play the piano. Some people are outstanding athletes. Some people are phenomenal singers or dancers.  I figure things out…quickly.

But I don’t want you focusing on my unique ability as the subject of this article. I want you to focus on your unique ability.

Each of us can recognize our own talent and leverage that self awareness to make a great living and live a great life®. The key lies in maximizing the time we spend leveraging this talent and minimizing the time we spend doing things at the opposite end of the spectrum.

Learning what you should not care about, worry about and focus on, is a huge component of law firm leadership.

The Essence of Self Awareness

The most important quality for any leader (and if you are a partner in a law firm you are a business leader) is self awareness. You must understand what you are really good at and you must understand what you should never, ever do again.

I can look at a business issue, analyze it, and formulate a solution quickly.  The more I work on issues in a specific industry, the faster I can develop a solution, and the more likely I am to develop a winning strategy.  (That’s why I am called to handle some of the most difficult issues in working with law firms - I have significant experience in that industry).

I do not get involved in the implementation of the solutions I prescribe.  I help develop systems to make certain the implementation is smooth but I do not personally implement those systems. There are others more qualified to deliver that service.

Why Self Awareness Is Important to Law Firm Leadership

Knowing what you can do exceptionally well and knowing what should be delegated is the essence of self awareness for a business leader. Ninety-eight percent of all activity in your law firm must be executed by someone else.

Law firm leaders have a difficult time with this concept.

You may be the greatest trial lawyer since Clarence Darrow but the minute you become the leader of a law firm, that part of your career is over.  You cannot grow a law firm beyond the $5 million mark and hope to spend time working in a courtroom or on a contract.

A leader must lead and that is a full time job.  Practicing law is also a full time job.  In a growing law firm, a lawyer cannot serve two masters - either you focus 100% of your time on the leadership of your business or you focus 100% of your time on the practice of law.

You can be a part time lawyer and a part time law firm leader and have $200,000 or even $2 million in billing (depending upon your practice area).  But if you want to build a multi-million dollar law firm and consistently and predictably increase that billing number, you must be a full time law firm leader.   

If your unique ability, your talent, lies in law firm leadership, you must “retire” from the day-to-day practice of law. 

This requires self awareness.

What You Should Do Now

If you have designs on turning your law practice into a law firm (a business), you must have total mastery of self awareness.  This is just one aspect of being a law firm leader. 

There are ten disciplines of law firm leadership. Self awareness is one of them. If you are ready to take the next step and build a law firm that will have value beyond your lifetime, you should give me a call.  888.444.5150

Creating a law firm that has equity and can be sold for real economic value is a process that takes place over a number of years. You and I can discuss the ten disciplines law firm leadership and determine if you are on pace to achieve your goals.

They don’t teach this in law school.  In fact, most of the seven demands of law firm leadership are not taught anywhere. 

Call me to discuss your law firm and take control of your future.

888.444.5150

Here are three other articles you will find valuable as you grow your law firm:

Three Commitments of a Law Firm Leader

Not surprisingly, law firm leaders make commitments to themselves and to others.  Here are three commitments you must make.

How to Fire Bad Clients

There are some people you really should not work with.  If you do, you regret it.  This article helps you make the distinction between a difficult client and a client that should be fired.

The CD That Will Help Give You Clarity

This is an invitation to receive a CD about making a great living and living a great life as a lawyer.  Follow the link above and I will send it to you f-r-e-e. I even cover the cost of shipping it to your doorstep.