Did you go to law school to change the world? If so, I’m curious what happened to that dream. Are you living it? Or did you give it up because you needed to make a living?
What if I told you that you could both change the world AND make a great living?
Well, that’s exactly what I am telling you. Please read on to discover why your law degree may be the single most valuable asset you have to both change the world and make a great living while you do it.
When you change the way you practice law, from the traditional law practice model, to the new law business model, you can provide affordable legal services, and make a real difference in your client’s lives while making a great living.
Here’s what I mean:
The traditional law practice model is focused on forms and documents, hourly billing in six-minute increments, and churning through clients.
You’re taking whatever comes in the door, trying to figure out how to charge as little as possible, and constantly stressed out. You may even have a sneaking suspicion that you aren’t really doing the best job possible for your clients. You’re simply too worried about keeping your doors open.
Of course, it doesn’t work. It’s broken. And it certainly isn’t changing the world.
Or, maybe you are a litigator and have discovered you have become someone you never expected to be. Maybe you have even started to consider that you are contributing to the world being the way it is.
I remember a lawyer who came into our Personal Family Lawyer program years ago and he told us the story of why he joined us.
He had been filing some interrogatories to be answered by opposing counsel in a litigation matter and after calculating when they would be due, he found himself pumping his fist in the air with glee as he realized he would be forcing his opposition to work through Christmas.
But half-way through that fist bump it dawned on him, he had become a person who celebrates ruining someone else’s Christmas. This was not the man he wanted to be. And he began the process of transitioning into a lawyer who serves life, rather than destroys it.
If you are ready to use your law degree for good and to make a great living while you do it, I’d like to present you with an alternative model, a new law business model, that truly makes a difference in your clients’ lives, and in yours as well.
First, let me make the case about why it might be important to you to shift the culture of your community through lawyering.
Then, we can talk about how you can do so, once you’ve decided it’s worth your time and focus.
Lawyers get a bad rap. Most people are scared to come in to see you, even if you are one of the good ones. And, for the most part, from what I’ve personally seen out there, they should be afraid.
Our current, traditional, bill by the hour, business model intrinsically incentivizes most lawyers to escalate conflict.
A friend of mine recently shared with me the terrifying details of her parents’ 14-year divorce. By the time it was resolved, the lawyers for both sides retired on what they had earned by continuously escalating the conflict between her parents.
How would her life have been different if her parents had hired lawyers who were trained to up-level culture in their community instead of intensifying the conflict?
Most business lawyers are known as deal killers, not deal makers. We’ve been indoctrinated to look for what won’t work in a transaction, to find the risks, and to make sure our clients’ know about them.
Now, let’s look at the alternative. It doesn’t have to be this way.
What if we came at things from a different perspective and were focused on helping our clients make better deals (for themselves and the whole transaction), get creative, and create more of what we’d like to see in the world, while recognizing that a win/win transaction mitigates risk better than any type of a win/lose paradigm ever could?
You can choose to create something totally different with your law practice. You could, if you wanted to, choose to use your law degree and your law practice to shift the culture in your community altogether.
What might that look like?
It might look like a law practice where you are known for creative, outside the box, win-win solutions for the people you serve.
It might look like a law practice where you host events that are community gatherings to consider new possibilities for working together, living together, and creating more together.
It might look like a law practice where when people walk in the door of your office they say to themselves, and often out loud (and then to their friends and family), that was the best experience I’ve ever had with a lawyer. I didn’t know going to see a lawyer could feel that way.
It might look like a law practice where you are the trusted advisor for the community.
It might look like a law practice that is focused more on giving than on getting.
It might look like a law practice where billable hours are reserved for when the Court requires it, and everything else is focused on value-based outcomes, flat fees, where everything is agreed to in advance and you never send out an invoice.
It might look like a law practice that feels like public interest, but earns you the kind of money you’d expect in private practice, and that actually works for you and your clients.
It might look like a law practice where the people who work there (including you) are excited to come to work every day, mission-oriented, focused on providing tremendous value, new paradigm life, and business structures, and creating more resolution.
It might even look like a law practice where when people meet you, they give you the biggest compliment you could possibly receive … “you don’t seem like a lawyer.”
The New Law Business Model That Allows You to Provide Affordable Legal Services, Make a Real Difference In Your Clients’ Lives AND Make a Great Living While You Do It
Here’s what the new law business model could look like in your practice …
You focus your attention on educating your community in a new way. You appear on podcasts and do presentations, maybe even on TV. Or perhaps you just host an online webinar twice a month.
In these presentations, you are teaching the families and/or small business owners why it’s actually more affordable for them to work with a lawyer than it is for them to try and handle legal matters themselves or with a discount pre-paid service.
You show them that the costs of a failed estate plan, or not thinking through the setup and maintenance of their business, is far greater than having trusted counsel to guide them.
You have streamlined packages that allow you to offer trusted advisor services to your clients affordably, AND that at the same time compensate you well because your office is built on efficiency, makes the highest and best use of technology and because you are outsourcing everything you can to well-trained technicians while you focus on educating your community and engaging clients.
You charge $1,500 to $7,500 for your estate plans and $750 to $3000 per month for your business planning services. And you are able to earn a healthy profit serving 10-15 clients per month, with a staff, and proven, automated marketing systems that allow you to not only make a great living, but have a great life as well.
The best part is that you know you are making a real difference in your clients’ lives and businesses. You are keeping them out of court, and out of conflict.
By focusing your practice on truly serving your clients to stay out of court and out of conflict, you are changing the world for the better.
You are guiding families to increase their family wealth from one generation to the next, by creating and passing on their legacies during life.
You are supporting business owners to truly achieve their life goals and visions, with the business models, legal, insurance, financial and tax systems to support them.
And you are doing it all affordably, efficiently and effectively. The New Law Business Model is truly a win/win/win — a win for you, your clients and the world.