Profit First for Lawyers Escaping the Doctrine of Sacrifice: The Role of Luck
“It is a sign of extreme entrepreneurial immaturity to discount or dismiss or ignore, or not even be aware that there’s some luck involved in your success.” – RJon Robins, author of Profit First for Lawyers
Welcome to our three-part series on The Doctrine of Sacrifice. This is RJon’s personal crusade to free entrepreneurs, especially lawyers from the long-held belief that sacrifice is noble and that focusing on profit is somehow morally wrong. In this first episode we explore how understanding the role of luck can actually make you more profitable. In clips taken from a 2021 livestream, RJon shares a passage from the How To Manage A Small Law Firm internal employee handbook. Something that every team member reads during their onboarding process. This passage blends ideas from Ayn Rand, Eric Hoffer, and RJon’s own experience to explain why luck is essential for long term success.
Key Takeaways:
- Success and failure both involve luck
- If you continue to make rational decisions and don’t quit, luck will eventually work in your favor
- Perpetual lack of success isn’t just bad luck, it’s often a pattern of poor decision making
- Understanding luck’s role frees you to take calculated risks without fear of “breaking” your success
So, if you’ve been attributing your struggles entirely to bad luck or your success entirely to brilliance, this reframe changes everything about how you run your firm.
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:
- Coming up next week: Part 2 of Escaping the Doctrine of Sacrifice
- More information about The Doctrine of Sacrifice can be found at the end of Chapter 6 in the Profit First for Lawyers book
- Subscribe to the Profit First for Lawyers podcast
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- And most importantly, order your copy of Profit First for Lawyers today!