Profit First for Lawyers

Over the past few weeks RJon Robins has shared key insights about the 7 Parts of Every Successful Law Firm…which also happen to be the same for every unsuccessful law firm. In this episode we combine all seven of RJon’s teachings into one single recap show.. If you’ve already heard the full episodes, consider this a focused refresher. If you’ve been waiting for the series completion to binge listen, this is the exact episode you’ve been waiting to hear. Key Takeaways Marketing attracts right fit clients and repels wrong fit clients. Sales is a service you do for clients by providing clarity and options. Production is consistent and reliable when documentation, systems, and processes are in place. Engineer jobs to be mutually profitable. Detailed (and accurate) job description along with measurement, and metrics make it easier to manage People effectively. A right-sized Physical Plant ensures employees have the right tools and resources to do their jobs. Money & Metrics/Financial Controls can be easily understood and monitored through the use of KPIs and dashboards. Your law firm is meant to work for You and Your Goals. You are the farmer, your law firm is the mule. It works for you, not the other way around. Resources Mentioned Your Business Plan Workbook Connect & 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! Links to episodes in the series: Part One: Marketing | Part Two: Sales | Part Three: Production  Part Four: People  | Part Five: Physical Plant | Part Six: Money & Metrics | Part Seven: You & Your Goals

What do boundaries have to do with Profit First? Raul Longoria from Team RJon shares how setting and maintaining boundaries in his personal life set the stage for improved peace of mind. Which has translated into overall profitability in other areas of his life. RJon in the Studio RJon challenges listeners to rethink conventional wisdom by prioritizing their law firm’s profitability. Something which may fly in the face of the advice you may have received from bookkeepers, CPAs, and tax strategists in the past. Given that a profitable law firm benefits clients, staff, and family, shouldn’t that take priority over the comfort and convenience of advisors? Key Takeaways Setting boundaries allows you to make your own profitability a priority Saying “no” can be uncomfortable but is often the kindest thing to do Do not tolerate toxicity just to “keep the peace” at your own expense Holding boundaries encourages others’ growth and potential Surround yourself with people who inspire your greater self 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! <<Hear Raul in episode 8: “Killing Your Ego”>>

We wrap up our series exploring the seventh and final part of every successful law firm with a focus on you, the law firm owner! >> Listen to previous episodes in the series << Part One: Marketing | Part Two: Sales | Part Three: Production  Part Four: People  | Part Five: Physical Plant | Part Six: Money & Metrics Tea Time with Karli The pressure is on! After several unsuccessful recording sessions (and subsequent rewrites), Karli throws out the script. It is the last possible day to record Chapter 5 and even with the nearby flight school planes flying overhead, it’s go time! RJon in the Studio Your law firm is many things, but one thing it isn’t is your baby. RJon explains why you, the owner, are actually the most critical part of all seven parts. Your goals and priorities dictate whether the other parts of your business serve you or if you serve your business. Connect & 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!

How you value your time and the time others give to you is the focus of this episode.  From Executive Assistant to Law Student We are joined by Stephanie Galvis who 11 years ago became RJon’s Executive Assistant. Stephanie recounts the early “scrappy” days of How To MANAGE a Small Law Firm. She also shares her inspiring education and career path which led to law school.  We hear about the advice on the value of productive (and profitable) conversations RJon gave Stephanie years ago. Advice which still has an impact in her academic and professional life today.   RJon in the Studio RJon goes into detail about normalized salaries and how a law firm should only pay you what they would pay anyone else other than you to do the same job.  This clip reminded Stephanie of RJon’s strategic transition away from company production roles. This allowed him to focus on his highest and best use of time. Connect & Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook And most importantly, order your copy of Profit First for Lawyers today! Your future self will thank you!

We have arrived to the sixth-part of our seven-part series. With marketing, sales, production, people, and physical plant in alignment, it is the time to focus on financial controls also known as money and metrics. >> Listen to previous episodes in the series: Part One: Marketing | Part Two: Sales << >> Part Three: Production  | Part Four: People  | Part Five: Physical Plant << Tea Time with Karli Karli shares more behind-the-scenes moment from the audiobook recording sessions, including creative attempts to finally get through the problematic Chapter 5. After multiple frustrating tries, will one more studio session do the trick? In the Studio In the first clip, RJon explains financial controls in relation to tracking revenue, expenses, and profit to show whether all of the work being done each day, week, month, and year is (or is not) building equity in your business. In the second clip, RJon goes into a detailed explanation of the Budget Variance Report. Hear RJon’s real client stories illustrating how Budget Variance Reports identified issues requiring further investigation. In one particular story, an investigation into a growing gas expense variance alerted the firm to an employee’s dangerous car leak. This discovery not only brought the gas variance back in alignment, but also potentially saved the employee’s life. The Series Continues Join us in episode 21 where RJon will share the seventh and final part of the 7 Parts of Every Successful Law Firm. Which also happen to be the same parts of every unsuccessful law firm. Until then, we invite you to: Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email your questions to: podcast@profitfirstforlawyers.com And most importantly, order your copy of Profit First for Lawyers today! Your future self will thank you!

Make the Most of Your Time What is the highest and best use of your time? That is the question we tackle in this episode of the Profit First For Lawyers podcast. Zoey (previously in ep.4) returns to the show with some news about her new role on Team RJon. She also shares how RJon’s advice encouraged her to take a long-held dream and turn it into a reality. RJon in the Studio When it comes to how we value our time, RJon holds no punches. Just because you can do a task does not mean you should. He urges us to step back to examine if our time spent truly aligns with our professional and personal priorities Profit First For Lawyers Book Reviews Listen to some key takeaways from a few of our Profit First For Lawyers readers: “I am doing more planning looking forward as opposed to just really living in the moment.” – Terry Sanks, BEUSSE SANKS, PLLC “It’s the first book that I’ve seen directed to law owners of law firms that talks to you about why you need to review your financials, what you’re gonna find out when you review your financials, what are the pitfalls that you need to worry about.“ – Angela Klenk, BEACH CITIES ESTATE LAW “It was a huge takeaway that we can define profit in a different way than just how much money are you bringing in?” – Desiree Gray, CHOICE CITY FAMILY LAW “The ideas here again for Profit First For Lawyers is just mind blowing…to realize that there’s so much more to learn and there’s so much more that we can do to make ourselves better people, better consumers, better responsible people with our own resources.” – Todd Wesche, VETUS LEGAL “I love how specific it is for the industry that I’m in. I’m an attorney and I’m an entrepreneur, and I’m running my own law firm, and this is really helping me figure out a completely sort of sober, rational way to run a business.” – Marie Drake, THE DRAKE LAW FIRM We thank them for sharing what they found valuable (and profitable) within the pages of the Profit First For Lawyers book. Now it is your turn. Send us your review about the Profit First For Lawyers book to: podcast@profitfirstforlawyers.com Connect & Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email your questions And most importantly, order your copy of Profit First for Lawyers today! Your future self will thank you!

In the fifth part of our ongoing series, we focus on Physical Plant. The importance of matching your law firm’s growth with effective work environments and the necessary tools your staff needs for work. >> Listen to previous episodes in the series: Part One: Marketing | Part Two: Sales << >> Part Three: Production  | Part Four: People << Tea Time with Karli The water is boiling and it is time for some tea. RJon is back in the studio to finally record Chapter 5. Or at least that is what Karli hopes will happen after getting the green light on the latest revised script. Tune in to find out how well that did or didn’t work. In the Studio In the first clip, RJon explains Physical Plant, which includes everything your staff needs to work. Such as desks, chairs, computers, software, and workspace in-person or remote. Physical Plant must also align with your business and growth plans. RJon says, “You’ve got to keep your physical plant right-sized to your law firm.”  In the second clip, RJon expands on Physical Plant as it relates to aligning marketing and sales with client expectations. He illustrates this point by contrasting the expectations and experiences of a meal at a fast food restaurant vs. a meal at a fancy steak restaurant.  The Series Continues Join us in episode 19 where RJon will reveal more key insights into the 7 Parts of Every Successful Law Firm. Which also happen to be the same parts of every unsuccessful law firm. Until then, we invite you to: Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers: LinkedIn | Instagram | Facebook Email your questions to: podcast@profitfirstforlawyers.com And most importantly, order your copy of Profit First for Lawyers today! Your future self will thank you!

The Profit First For Lawyers book is out! It is time to celebrate the official launch of the Profit First For Lawyers book. We thank you for listening, watching, subscribing, sharing the podcast with colleagues, sending us your questions, and of course for buying the book!  This podcast was created by Team RJon as part of the book launch. We had a goal to sell 10,000 books.and as you’ve heard in previous episodes that goal was met and exceeded. By how much? On the publication date of August 28, 2023, the official tally was 27,715 books sold!!! We are beyond excited and cannot wait to share feedback from readers (you) in future episodes. RJon in the Studio: Profit Defined For RJon profit goes beyond finances. In a thought-proving clip, RJon provides his definition of profit and explains why profit has a place in all areas of your life. At the core profit is exchanging something you value less for something you value more. RJon shares a personal story to illustrate this point further.  Profit First in Action At the recent Live Quarterly Meeting (LQM,) Karli interviewed How To Manage (HTM) members on how Profit First has worked for them: Sam Brotman, Tax Attorney: Implementing Profit First initially seemed counterintuitive. The reality is the simplicity and effectiveness of Profit First has given him profit and peace of mind.  Helen Bukulmez, Immigration/Injury Lawyer: Helen recommends law firm owners look into Profit First even if the name seems off-putting.. In financial, professional, and personal matters, she now begins with a question, “Is this going to pay me first?” Ron & Julie Pollack, Personal Injury Lawyers: Adopting Profit First Accounting Principles transformed their firm (and their relationship) by finally putting themselves first. Connect & Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email your questions And most importantly, order your copy of Profit First for Lawyers today! Your future self will thank you!

We continue our in-depth series exploring the 7 Parts of Every Successful Law Firm. In part 4 the focus shifts to people. From job descriptions to key performance indicators (KPI) and systems to processes needed to build (and keep) an effective team. >> Listen to previous episodes in the series: Part One: Marketing | Part Two: Sales  | Part Three: Production << Tea Time with Karli After two failed attempts at recording Chapter 5 for the audiobook, Karli reworks the problematic chapter. Will the newly revised pages get the green light from RJon? Will this be the day it is finally recorded? Can Karli cross Chapter 5 off her to-do list? Listen in to hear for yourself. In the Studio In this excerpt, RJon emphasizes the importance of detailed job descriptions, key performance indicators (KPIs), and objective metrics for staff. This protects employees by clarifying responsibilities and setting clear expectations. It also protects law firm owners from favoritism concerns by providing unbiased data based on objective performance measurements. From the Cutting Room Floor RJon stresses the importance of building sustainable systems that are not solely dependent on one person (you). This allows a law firm to continue operating whether the owner steps away because of an unexpected emergency or for planned personal time. The ability of a law firm owner to step away for a period of time is an example of a true business and not just a practice or a job. The Series Continues Join us in episode 17 where RJon will reveal more key insights into the 7 Parts of Every Successful Law Firm. Which also happens to be the main part of every unsuccessful law firm. Until then, we invite you to: Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers: LinkedIn | Instagram | Facebook Email your questions to us And most importantly, order your copy of Profit First for Lawyers today! Your future self will thank you!

We’re joined by a familiar face, Tami Cumpston is back! She updates us on the project she is managing, why she chose this particular project, and what excites her about it. We think Profit First For Lawyers listeners will be especially excited to hear her big news. We also get an update on the launch of the Profit First For Lawyers book which will be in book stores on August 28th. RJon in the Studio Tami brings a clip she selected of RJon discussing money objections. In the clip, RJon emphasizes the importance of knowing who your business is meant to serve. For example, his business is not built for the lowest price, but for delivering premium service and results.  He elaborates on this further with a comparison of a Volkswagen to a Rolls-Royce. There are markets for both.   Tami relates this to her hospitality background – at the private club she worked at, they focused on service and value over being everything for everyone. She aligns with RJon’s approach of identifying ideal clients. Profit First Q&A Part 2 RJon answers the second part of listener Erik J. Olson’s Profit First question. RJon explains how he incorporates profit and tax allocations right into his budget like any other line item.  Connect & Engage Subscribe to the podcast Watch episodes on YouTube Follow Profit First For Lawyers on social media: LinkedIn | Instagram | Facebook Email your questions And most importantly, order your copy of Profit First for Lawyers today! Your future self will thank you!