Profit First for Lawyers Break Through Your Profit First Mindset Blocks
“So there’s a mindset problem going on here. How the owners of law firms think about what they think about, the excuses they make, the excuses they accept, the unexamined stories that they accept as gospel.” – RJon Robins
In this episode, we are joined by Erika Ferenczi, Director of Brand Promise at How To Manage Enterprises, to tackle the elephant in every law firm: the mindset blocks that keep lawyers from being profitable. With nearly two decades helping entrepreneurs grow their businesses, Erika reveals why so many brilliant lawyers struggle financially and shares jaw-dropping transformation stories.
In The Studio
In a clip from Chapter 4 of the Profit First for Lawyers book, RJon explains how law school creates a dangerous myth: that success will magically happen IF you are a good enough lawyer. Something he quickly debunks. Instead RJon suggests that it is how law firm owners think about what they think about in their business and lives that determines success. Why? Because at the core, success stems first from a profitable mindset.
Key Takeaways
- Paying yourself first creates urgency that forces you out of your comfort zone
- Remove the shame and negative connotation around making money for your services
- Start the Profit First habit with any amount right off the top
- The best thing you can do for the world is to be successful
- When you win financially, everyone wins: your family, employees, clients, and your community
NEW PODCAST ALERT: The Exponential Entrepreneur
Erika announced the upcoming launch of The Exponential Entrepreneur podcast featuring lessons facilitated by RJon Robins, Alejandra Leibovich, Oscar Ferenczi, and Erika Ferenczi based on their Practical Profitable Mindset Program. Each week these four battle-tested entrepreneurs are sharing the mindset shifts every entrepreneur needs to experience exponential growth. Listeners are in for a treat as we share the trailer for this powerful new podcast.
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!
