Thoughts from the Richard James Partners Club in Phoenix

Last week, I was in Phoenix where we had the opportunity to participate in the Richard James Partners Club event as a sponsor. We had a great time and I wanted to share some thoughts and takeaways that may be helpful as you build your law practice.

One of the topics which resonated with me the most is the concept of building and developing a law practice from Chaos, to Growth, to Health, to Freedom. It’s a simple way to analyze your practice and determine how to get to the next level.

Chaos means that you don’t own your law practice – your law practice owns you! Signs that you’re in this phase include working 9+ hour days consistently, inability to unplug and take a vacation, no time for friends, family, and hobbies. Most of us have been there but nobody wants to stay there!

Growth means that you’re moving out of chaos but you’re not healthy or free yet. Positive characteristics of this stage include revenue growth year on year, at least a few staff members on board, and possibly more than one office location. But, you’re still working 6-day weeks to keep your head above water and you’re not clear on what numbers you need to be tracking as you build your practice.

Health is a good place to be. A healthy practice generally has an office manager / COO type employee who keeps the trains moving. You’re able to track Key Performance Indicators, you’re able to take vacations regularly, and you’re consistently profitable. But, your presence in still required on a more-or-less daily basis in your practice.

Freedom is what we’re all shooting for. This means that you have a practice which can truly operate without you. It generates the income you need to support your lifestyle – but it doesn’t tie you down. You can come and go as you please. Your staff has well-documented systems which keep your practice running smoothly. You have time and resources to invest into other passions and priorities outside of your practice.

As a business owner myself, this was powerful. If you were at the conference, I hope you found it helpful as well – and if you weren’t there and want to know more, check out the Richard James website.

There was a bunch of great marketing insight as well – if I have a chance later on this week I’ll share some of those thoughts. In the meantime, here are a few pics from the event. Phoenix is gorgeous this time of year – the weather was perfect!

Chatting with entrepreneurial attorneys in Phoenix!

 

Phoenix sunrise

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Daniel Decker

Daniel Decker is a co-founder and Partner at Spotlight Branding. In addition to helping lawyers stand out from the crowd, he spends his time writing, dreaming up new marketing strategies, and coming up with catchy subject lines. In his spare time, Daniel enjoys playing sports, guitar, politics, and Minnesota sports.

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