Grow A Small Business Podcast In 2007, Aged 47 started a law firm with him being the single FTE, with $100K savings when COVID hit, doubled down on marketing and was able to grow the firm to 8 FTEs and 7 figures a year before selling out in 2021. (Michael Chastaine)
In this episode, Troy interviews Michael Chastaine, from Chastaine Law. He's based in New Mexico, United States of America. Michael is a criminal defense lawyer for 37 years. and for 17 years of a public defender before deciding to open his own firm in 2007.
After a lot of success over the years he decided to open Chastaine Law. After soon realizing it didn't go as planned and being broke he seeked out help from his mentors and did some reading and research and slowly grew to an eight-person firm with more than seven figures a year routinely before selling out.
Michael believes to never trust the data of marketing companies. The one habit, probably the single most overlooked, secret weapon to peak performance is sleep. You got to get enough sleep. If you're not getting enough sleep, your performance is going to suffer.
This Cast Covers:
- Having $100,000 rainy day fund when COVID hit and taking advantage of the down time to grow the firm
- How technology has changed the industry now from the time he got out of law school in 1985
- Success is enjoying in his 10 acre Adobe Hacienda in New Mexico
- Biggest mindset shift was after selling out, separating himself out of Chastaine Law and treating it as it's own entity
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Additional Resources:
Quotes:
"You can't grow what you don't measure" — Michael Chastaine
"I think the mistake a lot of people make is they put all their money in one account." — Michael Chastaine
"The challenge with marketing is that everybody will promise you the world." — Michael Chastaine
"It's always good to start with you as the owner." — Michael Chastaine
"Don't be a slave to everybody who's got your email address, your phone number, your Facebook page, or your WhatsApp, control your own time." — Michael Chastaine
"Don't be afraid to invest, you got to be willing to spend money." — Michael Chastaine