‼️Lawyers want to grow from $350k to $950k? Do two things… 1️⃣ hire A-players 2️⃣ perfect how you do the work with systems Too many law firms feel a pressure to hire. “Tom’s firm down the road has 4 attorneys, 9 paralegals, and 6 assistants…it’s just me and a paralegal. I wish I was bigger.” What you don’t see is that Tom’s total revenue for the firm is probably $2M…with revenue per employee at $110k. Yours is $225k per person. Because the 2 of you knock out $450k annually. Your firm is more efficient. You don’t need more people. You need better people and better systems. 🚀 #lawyer #attorney #lawfirm #entrepreneur
Jon Cumberworth
9mo
great points here Andrew. Law firm and business owners hear that it's about the "Who" all the time, but then struggle to execute a consistent and effective hiring, onboarding, and management system in their business. It's like coaching a youth basketball team....you can tell them they need to score more points than the other team and they nod their heads, but then have no idea how to go and do it. What kind of systems or tools would you normally recommend for hiring and keeping "A" players?
Cesar Cobo
9mo
Excellent piece of advice. Perfecting your system and making it efficient is the key to the firm's increased efficiency.
Bojan Pepic
9mo
Stretch your legs according to the coverlet. Succumbing to pressure to hire more people often leads to decreased efficiency -- although the outer appearance suggests otherwise. That is where most law firms (or other small businesses) catch the bite and go down the hiring slippery slope. Excellent insights, Andrew!
John McCarthy
9mo
Profit & Cash are more important than Revenue, Team Size or Ego :-)
Agree! Having a good system is indeed essential to having a well-oiled business, from sales and lead generation to payroll and administration, as well as operational activities. And, there are a lot of tools available to choose from depending on business needs.
You make such a great point for any profession: hire A players, give them a good working framework (processes), pay them a bit better, bonus them and then watch them grow and flourish! Spectacular way to increase both the top line and the bottom line.
Andrew Zihmer Amen! Set your goals and then put together the team and pieces to reach them.
I agree! Before you think about growing your team, make sure the numbers add up and that you're not just adding more people for the sake of looking big
THIS IS A PERSONAL ACCOUNT Assistant District Attorney General - Trial attorney handling criminal cases. Opinions my own.
9moEfficiency and the law - hard topic for many. Law school and academics, who teach in law school, are inefficient. Caselaw thrives on inefficiency. So many in the law have a hard time understanding why being efficient matters and how it can help the firm. This also is a training issue. Most people get more effficient the more reps they have at a given thing. Since lawyers are taught by folks who think that their job is to teach us how to "think" like lawyers, the idea of getting reps is lost on a wide swath. But efficiency matters and is 100% something that can be seen in action, along with the data.