Podcasts

As we approach the end of the season, we look back on RJon’s promise to readers of his book Profit First For Lawyers. “If you implement what I’m going to be sharing with you in this book, your law firm will definitely become more profitable.” RJon Robins, Profit First For Lawyers, Chapter 1 Personal Impact and Professional Benefits In this episode, Karli speaks with law firm owners who share personal and professional results after implementing Profit First. We hear from lawyers new to Profit First and lawyers who have followed Profit First principles for years. Personally, many saw profits accumulate into substantial savings. Others took dream trips or were able to profitably transition to remote work so they could spend more meaningful time with family. Professionally, featured lawyers grew revenues exponentially in months or saw consistent monthly profits after years of breaking even. A few shared how this newfound profitability has given them more confidence and peace of mind. All shared how Profit First changed both their business and personal lives. To see each of the lawyers featured in this episode visit our podcast on YouTube. Connect and Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email us your feedback at podcast@profitfirstforlawyers.com And most importantly, order your copy of Profit First for Lawyers today!

This episode packed with Profit First insights features Ron Saharyan, co-founder of the Profit First Professionals. Ron shares practical insights about Profit First fundamentals. He gives actionable tips for law firm owners who want to build a healthy, sustainable, and profitable business by following the Profit First methodology. We also hear about how Ron’s childhood friendship with Profit First author, Mike Michalowicz turned into the Profit First Professionals which is approaching a 10-year milestone. “Profit First does not care what your current financial situation is. It is a framework that will allow you to build the financial muscle memory to help you get out of that financial situation and also prevent you from falling back into it.” Ron Saharyan Co-FounderProfit First Professionals Key Takeaways Start Small: Begin by scrutinizing your P&L to find 3-10% you can allocate to profit. Enjoy the Suck: Reversing years of financial processes and mindset will take time. Be prepared for an adjustment period. Get Support: Lean on your support system (like How To Manage A Small Law Firm) for guidance and answers to your questions. RJon in the Studio RJon shares his own Profit First journey from nearly going under to running a multi-million dollar business. He explains in a Facebook Live clip why the typical excuse of “I’ll begin Profit First once I become profitable” is invalid – Profit First principles lead to profitability. Resources & Links Profit First Professionals Grow My Accounting Practice Podcast episode featuring RJon Robins Connect and Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email us your feedback at podcast@profitfirstforlawyers.com And most importantly, order your copy of Profit First for Lawyers today!

In this episode, we have a candid conversation with Marie Drake who shares the story behind why she became a lawyer, her family law practice, and her “No B.S. Divorce” model. She also talks about how a colleague’s drastic transformation led Marie to attend a Live Quarterly Meeting and join How To MANAGE a Small Law Firm four years ago. Marie has embraced Profit First and found RJon’s win-win model works well within her law firm. She advises young lawyers to explore several specialties before selecting one practice area. RJon in the Studio RJon talks about why being profitable professionally and personally is equally important as being profitable financially. He shares the story of “boat days” which produced invaluable business insight and personal satisfaction despite there being more lucrative ways to spend four days. RJon contends that the value he received far outweighed what he would have earned speaking on stages or hosting a workshop. Which illustrates his model of alignment between professional, personal, and financial success. Resources & Links Oscar Ferenczi: Ep 28 Does Your Accountant Have An Entrepreneurial Mindset? The Power of TED by David Emerald Connect and Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email us your feedback at podcast@profitfirstforlawyers.com And most importantly, order your copy of Profit First for Lawyers today!

In this revealing episode, RJon flips the script and calls out lawyers who may be sucky clients to their bookkeepers. RJon in the Studio In Chapter 16 of the Profit First for Lawyers book, RJon compares the attributes of disengaged legal clients to how some lawyers treat their bookkeepers. From showing up late (or not at all) to meetings and expecting their lawyers to read their minds to shirking responsibility or not participating meaningfully in their case. These clients can be the most challenging to work with due to their lack of commitment and attention. Typically these are the same clients who often do not get the best outcomes. RJon challenges listeners to take a look at their actions with their bookkeeper. Are they attentive and responsive to their bookkeeper’s questions? Are they an active participant ensuring their bookkeeper has what they need to complete financial reports accurately?  RJon reminds us that the purpose of bookkeeping is to provide a historical record for both tax purposes and to inform on strategic financial decisions going forward. So to avoid being your bookkeeper’s “sucky client” be proactive and clear in your communication.  Connect and Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email us your feedback at podcast@profitfirstforlawyers.com And most importantly, order your copy of Profit First for Lawyers today!

This podcast delves into the issue of law firm owners using household money for business expenses, labeled as a form of embezzlement. A lawyer shares struggles of starting a new firm and how implementing Profit First strategies transformed her business. The discussion emphasizes the importance of restructuring finances and paying oneself as a business owner.

Alejandra Leibovich, Co-Founder of How To MANAGE a Small Law Firm, explains how law firm owners can get off the ground and take flight to escape the “doctrine of sacrifice” mentality. She also recounts the early days of How To MANAGE and the origin of TAYE ASTUYA. Stuck on the Ground Running a profitable law firm requires a strategic bird’s eye view. Ale shares how struggling law firm owners stay bogged down in day-to-day tasks such as answering phones or cleaning toilets. This “ground level” thinking focuses on control and quality, but fails to effectively delegate those tasks, create systemized processes, or build in profitability. “The only way for your law firm to grow is for it to help more people.” RJon Robins Steps to Take Off Categorize overhead (Static or Dynamic) expenses. Hire team members who can operate more strategically than you Develop systems for accountability rather than to micromanage Invest in areas such as marketing, training, and planning Learn and then learn some more: Attend business education courses/events Gain insight from profitable law firm owners Cruising Altitude Profitability requires elevating your mindset. By taking flight you grow your firm’s capacity to serve more clients at a higher level. Plus, with increased profits, your law firm will attract rockstar team members to further your business goals. Connect and Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email us your feedback at podcast@profitfirstforlawyers.com And most importantly, order your copy of Profit First for Lawyers today! Your future self will thank you!

In this episode of Profit First For Lawyers, RJon explains the revolutionary concept of categorizing overhead expenses as either “static” or “dynamic” to better control costs and increase opportunity for growth. RJon in the Studio RJon goes into detail about the differences between Static Overhead and Dynamic Overhead. He explains Static Overhead as fixed costs like rent, utilities, and subscriptions. Dynamic Overhead expenses include marketing, staff training, and financial planning. While Static Overhead costs are necessary to conduct business, these types of overhead expenses do not directly boost growth or increase profits. On the other hand, Dynamic Overhead fuels expansion and increases growth opportunities. A Cautionary Tale To illustrate the difference, RJon shares a cautionary tale about a law firm with stalled growth. Upon investigating the firm’s tightly controlled marketing budget, it was revealed that a successful employee networking initiative delivering great ROI was sidelined by an overzealous controller. By capping the dynamic marketing initiative, the firm likely missed out on hundreds of thousands in profits. Key Takeaways Categorize your overhead expenses as either static or dynamic Look for opportunities to invest more in dynamic activities Don’t let static caps limit areas of growth Connect and Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email us your feedback at podcast@profitfirstforlawyers.com And most importantly, order your copy of Profit First for Lawyers today! Your future self will thank you!

Fear and self-doubt can prevent us from achieving our biggest dreams and reaching our fullest potential. In this special Halloween episode of the Profit First For Lawyers podcast, Karli and Raul discuss how to face fears, unmask ego, and breakthrough limiting beliefs. Key Insights from RJon Their conversation revolves around a clip from a Facebook Live in 2021 of RJon talking through an early draft of the Profit First For Lawyers book. In the clip, RJon challenges the assumption that running a highly profitable law firm requires extreme luck or privilege. He asserts that if instead of making excuses, struggling lawyers spent time with highly successful lawyers they would realize the only difference is the choices made – choices struggling lawyers can also make. Actionable Insights Examine what is holding you back and be honest about the “why”. Focus on making incremental progress rather than huge leaps. Reframe success and give yourself permission to “fail”. Tune into this episode of Profit First For Lawyers to discover how you can unmask the fears holding you back. Connect and Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email us your feedback at podcast@profitfirstforlawyers.com And most importantly, order your copy of Profit First for Lawyers today! Your future self will thank you! Listen to past episodes with Raul Longoria: Killing Your Ego | The Power of Boundaries Resources mentioned: Additional information on the Dunning-Kruger Effect can be found in the Killing Your Ego episode. To learn more about Live Quarterly Meetings visit https://howtomanageasmalllawfirm.com

An overview of Total Owner Benefits (TOB). Looking beyond just salary to the full profit potential law firm owners can receive as outlined in Chapter 9 of the Profit First for Lawyers book. RJon in the Studio RJon explores conventional vs. creative definitions of profit. He also tackles law firm owner pay as it relates to fair market salary for their work roles. He discourages inflated owner salary beyond what the firm would pay anyone else for the same job, as doing so reduces company profitability. Book Testimonial Attorney Andrea Shoup shares how she is implementing Profit First reporting and planning at her law firm with great results so far. Connect and Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email us your feedback to podcast@profitfirstforlawyers.com And most importantly, order your copy of Profit First for Lawyers today! Your future self will thank you!

In this episode, we are joined by RJon’s personal accountant, Daniel Ferro to discuss perspectives on profitability. Daniel shares his journey from traditional accounting jobs to joining RJon’s fast-paced team at How to Manage a Small Law Firm. Daniel offers a glimpse of what it is like to work closely with RJon and the insights he has learned along the way. Defining Profitability Daniel explains how RJon taught him the win-win concept. Which states that every honest exchange is profitable for both parties involved. Karli shares her own discussions with RJon about the win-win mindset as well. Karli and Daniel discuss what profitability means both professionally and personally. Daniel reveals he is using Profit First accounting principles in his personal life. Which shifts the conversation to prioritizing what matters most in business and life. RJon in the Studio In a clip from chapter nine of the Profit First For Lawyers audiobook, RJon expands upon the possible answers to, “How profitable is your law firm?” A question with conventional and unconventional answers dependent on who is asking the question. The answers may surprise listeners. Connect and Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email us your feedback to podcast@profitfirstforlawyers.com And most importantly, order your copy of Profit First for Lawyers today! Your future self will thank you!