Watch the YouTube version of this episode HEREAre you a law firm owner who is finding it difficult to manage finances? In this episode of the Maximum Lawyer Podcast, Jim and Tyson delve into financial management within law firms.Many law firm owners struggle with financial management, especially when it comes to paying themselves a salary. Jim and Tyson share the importance of paying yourself as a law firm owner. There is discipline involved when establishing how much money you receive as an owner. Many law firm owners feel they can take however much they want because they are in charge and bring in clients. But, this mentality is how lawyers end up with a struggling business, so it is important to determine and maintain a balance.Jim and Tyson discuss the emotional and psychological challenges law firm owners face when it comes to handling finances. It is so easy to get lost in the amount of money that starts to come in when things get busy and more staff are hired. It is important to maintain good financial habits to ensure not only you as the owner are given a decent wage, but your employees and all necessary expenses are paid. Hiring a good accountant or bookkeeper for a firm is key to ensuring nothing is out of the ordinary.Take a listen to learn more about responsible financial management!Jim's Hack: Download the ChatGPT Apple iPhone app and just talk to it. You can ask it all types of questions and it gets better each day.Tyson's Tip: Challenge people to not drink for 30 days and see how it makes you feel.1:38 The importance of paying yourself a salary 15:20 The psychological barriers associated with financial management18:13 The importance of reflecting on financial mattersTune in to today’s episode and checkout the full show notes here.

Watch the YouTube version of this episode HEREIn this podcast episode, Tyson tackles the sensitive topic of employee termination. His tips include: acting promptly, communicating directly and respectfully, and having a termination plan, particularly for remote workers. Some of the points Tyson dive deeper in this episode is to avoid prolonging discussions during the termination meeting, being objective, and not disparaging the employee post-termination. You could also offer support for the employee's transition and being transparent with the team are also highlighted. It’s the leader's responsibility to make tough decisions for the firm's health which includes the tasks of parting with employees. But hopefully, these shared tips will make things a little easier. Listen in!01:31 Making the decision to part with an employee03:41 The preferred method of being direct and respectful when parting with an employee06:38 The importance of being open with the team about a termination07:33 Considering offering help to the terminated employee10:05 The necessity of seeking legal counsel and supportTune in to today’s episode and checkout the full show notes here.

Watch the YouTube version of this episode HEREAre you thinking about becoming your own boss and starting a law practice? In this podcast episode, Jim and Tyson interview Margeaux Thomas, a seasoned lawyer who specializes in business divorces. Margeaux shares her transition from working in a large firm to establishing her own practice.Margeaux provides some insights on establishing her own practice and some things she had to consider beforehand. One thing was connecting with other lawyers in her circle who provided some tips and tricks to getting started on her own and what was needed to become her own boss. Another thing was understanding that as a lawyer, you can always pivot and work at another firm if starting your own doesn't work out. This mentality helped Margeaux in becoming more confident in her ability to succeed.Margeaux shares her thoughts on how to partner up in a law firm and what to focus on. Looking at a business partnership like a marriage is something Margeaux tells people that come to her for advice. It is important to communicate to a potential business partner about the roles each person will have, finances and each other’s risk tolerance to decide if it is something to move forward with. It is also crucial to get a prenup or operating agreement to ensure both individuals are on the same page.Listen in to learn more!Jim's Hack: Read the book “Already Free” by Benjamin Hardy. It is about the intersection of psychotherapy and Buddhism and talks about the value of therapy.Margeaux Tip: Read the book “Domestic Assistant Advantage’' by Steve Riley. She learned to hire a personal assistant to help with personal tasks to expand her reach. https://amzn.to/3TmuDS8Tyson's Tip: Use TEMU to order office supplies.2:17 Discussion of learning curves 9:24 Insights on partnering in a law firm 14:26 The importance of building a team earlier when starting a businessTune in to today’s episode and checkout the full show notes here. Connect with Margeaux:Website Facebook LinkedIn LinkedIn Office

Watch the YouTube version of this episode HEREIn this podcast episode, Tyson shares insights into his firm and the recently revised office hours. The firm shifted from team-specific hours to a more unified approach, introducing one mandatory 15-minute office hour from 12:45 pm to 1:00 pm, and two optional slots at 8:45 am and 3:45 pm, all in central time. This office hour change, aims to simplify scheduling, foster better communication, and improve productivity. 01:12 Tyson explains the new approach with mandatory and optional office hours03:09 Tyson details the new office hours structure, providing flexibility and opportunities for communication within the firm05:17 The positive impact of the changes to office hours and encourages feedback from the listenersTune in to today’s episode and checkout the full show notes here. 

Watch the YouTube version of this episode HEREAre you a law firm owner who needs a tool to visualize the work of your team? In this podcast episode, Jim and Tyson interview John Grant about implementing the Kanban methodology in legal practices.John provides some insight on what the Kanban methodology is and why it is such a great thing to add to law firms. Kanban boards are used in the project management space and can be used as a tool to outline work. It is often used in scrum meetings among teams to break down goals. For example, if a team is working on a project to streamline the intake process, a Kanban board can be used to visualize how that process can go using columns and cards. They are meant to allow users to see workflows and identify areas where there is a roadblock. It can be customized to the likeness of any team!John shares some of the templates he has created that can help law firms succeed. One is a litigation workflow, which can be used to help outline a case. There is a column for intake and research, one for strategy, one for mediation/negotiation and then one for the trial process. This lays out the whole case in front of you which when visualized can help see the whole picture. The transactional template is similar but might not include a trial phase.John provides a few examples of different types of Kanban boards. One of them is BusinessMap, which is great for large firms due to the amount of users that can utilize it at once. KanbanZone is another tool that is great for lawyers as there are functionalities that work well for the type of work lawyers do. Choose a Kanban board that works for your firm to maximize its great benefits!Listen in to learn more from John Grant!Jim's Hack: Read the book “10 X is Better than 2 X”, by Dan Sullivan and Benjamin Hardy. There is a concept in the book about how we ease ourselves out of the day to day practice of the firm by using free days.John’s Tip: Make policies explicit. It is not just about what the policy is and what I want you to do, but getting to the why behind the policy. Tyson's Tip: Use sticky notes to start putting stuff on the walls as a starting ground.2:59 The Kanban methodology and its application in law firms7:36 The benefits of using visual Kanban boards to manage tasks12:51 Recommendations for tools like BusinessMap and Kanban Zone 15:46 Best practices for setting up a Kanban board for litigationConnect with John:Website  FacebookLinkedin Tune in to today’s episode and checkout the full show notes here. 

Watch the YouTube version of this episode HEREAre you a law firm owner who is overworked and needs more support? In this episode of the Maximum Lawyer Podcast, Tyson Mutrux discusses the crucial role of delegation in law firm management. Running a successful law firm is all about delegating tasks to other employees. Delegation is all about taking things off your plate and allowing yourself as an owner to focus on other important tasks. As an owner, you need to trust your team to do well and allow them to take on the responsibility of doing certain things. If you don’t have trust with your team, there will be no growth and you as a law firm owner will become overwhelmed and burnt out.Tyson identifies a few tasks that can be delegated to other team members. One of these are routine and repeat tasks such as scanning. Delegating this to another person can really take the stress off of an owner. You can even create a process for scanning that makes it more efficient. Legal research is another time consuming task that can be outsourced to a virtual assistant. Growth tasks such as drafting documents can be given to a junior staff member or a legal student to allow them to build that skill. Listen in to learn more about delegation.00:23 The importance and impact of delegation1:17 Tips for identifying routine tasks suitable for delegation5:57 The impact of delegation on team empowerment and growthTune in to today’s episode and checkout the full show notes here. https://maximumlawyer.com/tysonmutrux641 

Watch the YouTube version of this episode HEREAre you an attorney who is interested in joining a supportive group of fellow attorneys? In this podcast episode, Jim and Tyson explore the impact of their mastermind group for lawyers. Jim and Tyson discuss the great things that have happened since beginning the quarterly mastermind sessions. One of these things is the ability to learn different ways of doing things from lawyers of all backgrounds. There are multiple ways to succeed and many people tend to not realize that. But, sharing perspective in the mastermind has created this notion for members. Working in law can be stressful and competitive, but Jim and Tyson share how participants are able to network, share ideas, overcome struggles and get validation from their fellow attorneys. The mastermind sessions are all about fostering a supportive environment for attorneys to grow and learn.Jim and Tyson share their methods for preparing for mastermind sessions. Starting off the mastermind sessions with a few questions help set the tone for the day and get people thinking about their work habits, business decisions and how they interact with clients. Mastermind sessions are all about digging deep with members, helping them understand their problems and receive positive feedback from others.Take a listen to learn more!Jim’s Hack: If you find yourself in a rut doing the same thing over and over, just do one little thing differently to be disruptive.Tyson’s Hack: If you think that you may have hired too many people, go through an exercise of picking your top 6 people that you can’t work without to narrow it down.5:23 Exploring the benefits of running a mastermind7:30 The dynamics and perspectives of participants in the mastermind9:22 Planning and setting the tone for mastermind sessions23:04 Discussion on the importance of making small changes Tune in to today’s episode and checkout the full show notes here.

Explore the importance of Key Performance Indicators (KPIs) in measuring law firm success. Tips on customizing KPIs for different roles, adjusting as firm grows. Importance of regular review and communication with staff. Learn how to set challenging yet attainable KPIs for teams.

In this episode of Maximum Lawyer, CEO Becca Eberhart shares a cost-saving tip for individuals and businesses: switch from monthly to annual subscriptions to potentially save 16% or more. Many services offer discounts for annual payments and urges listeners to actively review and manage their subscriptions. Becca advises checking for unused services and negotiating better deals, cautioning against long-term contracts that may limit flexibility. Listen in for encouragement and ideas to be proactive and mindful in financial management for immediate savings and long-term fiscal health.00:24 Opting for annual subscriptions instead of monthly ones03:54 The importance of actively reviewing and managing subscriptions05:14 Cautions against locking into long-term contractsTune in to today’s episode and checkout the full show notes here.

Watch the YouTube version of this episode HEREAre you a new law firm owner who is struggling with running your business? In this episode of the Maximum Lawyer Podcast, Jim and Tyson are joined by guest Jose de Wit, an immigration attorney who shares his journey of starting and running his own law firm as well as the challenges that exist.Jose shared the challenges that exist with owning a law firm. One challenge is finding people who are the right fit. Sometimes, it takes a few hires to find that one person that matches well with the owner and the goals of the firm. Hiring for a law firm is also determined based on how the firm will operate. It is important to decide if a front facing or virtual setting is what you want and hire based on that.Jose provides some tips for those who are hoping to run their own firm. Due diligence is an important aspect when becoming your own boss. There are some things that need to be ironed out at the start. Some of these things include setting up a bank account to receive payments and pay bills as well as seeking advice from other law firm owners in your circle. Platforms like LinkedIn are the perfect place to find other lawyers and make connections. Success in the law firm industry is all about networking and establishing good relationships!Listen in to learn more from Jose!Jim's Hack: Let’s push back on the idea that you need to get hiring perfect every time. Make note of what went right and didn't go right and change your strategy the next time around.Jose Tip: Read the book by Benjamin Hardy, which is about a layered approach to reading physical books and audiobooks, which can help you get through your reading list.Tyson's Tip: Try playing the game “A Moth Presents a Game of Storytelling”, which includes cards that are great conversational pieces.1:56 Challenges in running a law firm6:57 The use of LinkedIn 10:26 The decision-making process for hiring. Tune in to today’s episode and checkout the full show notes here. Connect with Jose:Website Instagram FacebookLinkedin