Well, let me tell you I wish I’d known about some of those mindset lessons back in 2008 when I started How To Manage A Small Law Firm. It would have made my life SO MUCH EASIER BACK THEN. Remember, that was the last time we had a major financial melt-down. Just as this time certainly won’t be the last time, either.
Today with nearly 400 law firms under management, How To Manage A Small Law Firm is the largest & fastest-growing provider of "time share" CEO services in the Country. Probably, in the world. Our track record of success is so-well-proven and so-thoroughly-documented that it’s hard to imagine that anyone could doubt our ability to help take just about any kind of small law firm from a "job" the owner goes to work for, and transform it into a successful and profitable business that works for the owner(s) of that firm.
I mention this to make a point about mindset that can really help you or hurt you.
ESPECIALLY during these interesting times.
Mindset really does matter. And it’s surprising…shocking really…how many very smart and highly educated lawyers who are so good at thinking clearly about legal cases let this get backwards during times of stress.
- Causes lead to effects, not the other way around. But too many struggling law firm owners allow stress & anxiety to "reverse polarity" on them when it comes to this fact about how we all know that the world of business really works. They lose their focus and let the effects distract them. Cash flow is an effect. It’s causes are relatively simple to control.
- We’re never really "out" of control. We’re always able to influence what’s happening around us. Unfortunately, too many struggling law firm owners let their feelings dictate their thinking and then forfeit control. This is made even worse if the owner of that law firm lacks proper tools and training needed "in the moment". The best time to learn how to manage the business of your law firm was before you found yourself in the middle of a storm. The next best time to let someone throw you a line is today.
- Your ego (yes I’m talking to YOU) your ego is NOT your friend. Especially not when docking a boat in a cross-wind and even worse, when attempting to manage a small law firm during these challenging times. Your ego (ok mine too) it gets in the way of clear, rational thinking. It tells us stories to protect itself…usually at the expense of our better judgment. It prevents us from accepting help.
Re-read #3 again, please. In fact one of the stories lots of lawyers with struggling firms tell me today, it makes absolutely NO SENSE. But here it goes. I’m telling you literally HUNDREDS of law firm owners have told me almost exactly this:
"Well of course you can think that way RJon, after all you already have a $XXX business". This makes absolutely NO SENSE. Instead, this sort of thinking is a red flag. It’s the equivalent of seeing a boat pressed by the wind and current, perpendicular against two pilings that it should be parallel to! Time to accept some help!
So let me spell this out. In case you ever catch yourself getting effects in terms of the management of your law firm that you’d prefer not to get…but just can’t think your way though to find the cause on your own. Believe me, I’ve been there!
First I got control over my mindset. At the time I was flat broke. And it was the middle of another global financial meltdown! That helped me get control over my feelings. That gave me the ability to go to war with my ego so I could get control over my ability to think-clearly, act-decisively, and accept some of the help that was all around me that my ego wouldn’t allow me to see. And THEN I was able to build what is probably the world’s biggest and most successful fractional/timeshare CEO service for nearly 400 of the most successful solo & small law firms in the Country. And most of them didn’t start out as being super-successful either. See points 1, 2 & 3 above to see how they did it! YOU CAN TOO!
