Until I had the first hand experience of seeing that the right investments, at the right time, would earn me back far more than anything else I could do with my time and money, I kept trying to build my law practice by “spending” as little as possible.
I thought of investing that way, back then. I was spending my money.
I didn’t get that properly investing in my law practice wasn’t spending my money at all. It was creating more with my least valuable resource.
You see, today I get that money in a bank, or available on credit, or even in a retirement account waiting for me to get old and start to draw on it, is actually the least valuable of my resources.
Money is infinitely renewable and replaceable, IF I use my time, energy and attention wisely.
And fortunately, I came to see that investing that money in my law practice (or in any business that would create consistent value for the world and allow me to serve in my highest purpose) wasn’t spending at all.
It was an investment in freeing up my far more valuable resources — my time, energy and attention.
Your time, energy and attention are not renewable or infinite. They are your most valuable resources and when you use money wisely you are freeing them up to create far more.
As a lawyer, investing in your practice to create a law practice you love that provides consistent, steady and predictable cash flow does just that.
You use your money to get focused in your practice, just on serving clients you love to serve, doing work for them you love to do, in just the amount of hours you have to do that work.
You free up at least 5-15 hours a week (or more) you are wasting right now doing work you don’t love, answering phone calls you shouldn’t even be taking, drafting documents someone else can draft, seeing clients you can’t stand anyway.
Think about it …
Imagine what you could do with that additional 5-15 hours per week, or more.
If you freed up that energy and were serving clients you loved, doing meaningful work, and knew how to charge for that work and get paid by clients happy to pay you for it, wouldn’t you just naturally make more money?
Of course you would.
So perhaps today is the day you want to make the shift from thinking about how you can spend as little as possible on your law practice to considering how you can invest as much as possible in having a life and law practice you love, and be financially thriving.
Want to see a video I made walking you through an actual cash flow forecast plan that shows how this works (and how it keeps you stuck)? Watch it here.
Are you ready to start practicing law a new way?