Have you ever been told that if you want to earn six or seven figures from your law firm that you need to dive into your financials, run the critical metrics, tie those into your KPIs (key performance indicators) … and do that every week?
Let me save you some hard work and aggravation.
About five years ago, I committed to scaling up our business and I tried those exact strategies. I spent 16-hour days … 70-hour weeks … grueling months … poring over the financials: defining, tracking, and analyzing the firm’s critical metrics in relation to dozens of KPIs.
Because I lacked confidence in my own ability to grow the company, I listened to the self-proclaimed “experts.”
I believed it when they said that knowing and monitoring all these numbers would catapult my company to multiple seven figure revenue.
But what really happened?
Well, for starters … we didn’t grow.
I was exhausted, stressed and overwhelmed. I lost the joy I’d had in building the company and serving clients. I was disconnected from my team and our clients because I was so engrossed in the numbers.
I even started to hate going to work … my work, my company, the job I created out of love and passion had been reduced to spreadsheets filled with numbers that stubbornly refused to change.
And no matter how many numbers I tracked or how hard I looked at them … they just didn’t budge.
We were stuck.
I felt like I’d hit a glass ceiling and no matter how much time I spent in Spreadsheet Hell, we just couldn’t break through.
Then I asked myself ONE question – what would happen if I stopped torturing myself with all those numbers … and started doing what I do best instead?
I hired an accountant to track the essential financials and give me regular updates. (Oh happy day!)
Then, I got really clear on who I wanted us to be when we grew up – what we valued at our core, how we best served our clients, and my vision for our inspired future.
We love our clients. In fact, you probably will, too. Check out our Gallery of Rock Stars.
And what about all those numbers?
I made ONE change in my mindset:
Instead of focusing on meeting expenses, I focused on meeting our profits.
It’s simple enough. You get what you focus on. When I focused on expenses, I was able to meet them. But that’s all.
I discovered that when you shift your focus to passion and profitability, your business will automatically show you the path to growth. You figure out what fuels your passion, make that profitable, and dump everything else. That’s law firm financials made easy.
And, within two years I blew through that glass ceiling and left it shattered on the ground! I released irksome clients and committed to ONLY work with clients who truly need, value and appreciate us.
And I rediscovered once-lost joy in my job … following my passion and working toward an inspired vision of the future.
If you want to grow your estate planning or elder law practice to be both more profitable and enjoyable and you want to do it without ever losing your joy, your purpose or your passion for clients, then here’s what I have for you.
Watch my newest training and schedule a strategy call with us. In the training you’ll learn the exact steps our clients take to achieve their financial goals and a law practice they love.
When you’re ready to transform your practice to achieve your own inspired vision, give us a call. We’ll help you get total clarity on where you are now, what success looks like for you, and the steps that will get you there fast, without spending another moment in Spreadsheet Hell.