My law practice wasn’t always flourishing, in fact when I took in over in 2012 as an exisiting small one man band business, it was struggling, BIG TIME! (The reason I took such a business over, is a story for another post!)
When a business doesn’t have a healthy cashflow or flow of clients, it can be a real struggle and very stressful to say the least. As a business owner you worry about how you are going to meet your obligations, how you are going to manage everything and your future.
Luckily for me, I was an entrepreneur before I was a lawyer.
What this means is that I have had the insight and ability to work on my business, more than I work in my business. I have been in business my entire adult life, but I didn’t become a lawyer until I was 34 years old.
Being a lawyer (or the technical person in your business) and the business owner can be tough, you have to wear lots of different hats and before you know it you are working more hours than your knew possible.
However, if you learn to crack the code, it can also be very rewarding and allow you to have a lot of freedom. People often ask me how I do all the things that I do. This is because I have cracked the code to earning more and having more freedom at the same time.
If you do business the right way, you can create a lot of time and money for yourself and live a happier life. I have created a business that allows me to do other things that I love, like write books, run a second business, travel and spend time with my family.
When we start out in business, we have dreams of what it will be like and how it will provide for us. But then for most reality kicks in and it is all of a sudden not as simple or easy as we thought it would be.
It’s also not just about creating a business to support your life and provide an income, if you are going to do that, you may as well stay employed where you have more security. Having a business is also about creating an asset, that will provide a lifestyle that you love for years into the future.
With more freedom, flexibility, and quality time you can really flourish and start benefiting from the reason that you started your law practice in the first place.
As lawyers (or whatever it is that your technical skill set is) we are not taught how to run a business, market and create a thriving law practice or teams. We are taught how to be a lawyer.
One of the first business books that I read when I was 22 years old was The E’Myth by Micheal E Gerber. This booked changed my life, truely it did. It doesn’t matter what business you are in, a law practice or otherwise, this book is a must read.
Grab a copy of this business classic, the message never dates and it will set you free!