What would you do with your one beautiful life if you not only had the financial resources you desired, but all the time and freedom those resources provided?
In this episode, I share how taking a step back in your law firm can help you make a quantum leap forward. This one mind shift will take you from a law firm owner who is exhausted, overworked, chained to your desk, and flirting with burn out to enjoying the freedom (and wealth) you deserve.
- The most important question you can ask yourself (this one will change your thinking about everything)
- The secret to creating the wealth generating firm you’ve always dreamed of (Hint: raising your rates isn’t always the solution)
- How to take a month off and return to more money (and highly satisfied clients, too)
- And much, much more!
Mentioned in this episode:
- Wealthy Woman Lawyer® League
- Wealthy Woman Lawyer® website
- Davina on Facebook
- Davina on Twitter
- Davina on Instagram
Davina Frederick: Hello and welcome to the Wealthy Woman Lawyer podcast. We believe all women lawyers deserve to be wealthy women lawyers. Our mission is to provide thought provoking powerful and practical information to help you in creating your own sustainable wealth generating law firm without overwork or overwhelm so you can live your best life. I’m your host, Davina Frederick. Let’s get started.
Hi, everyone. This is Davina Frederick of Wealthy Woman Lawyer. We help women law firm owners scale their law firm businesses to and through a million dollars in gross annual revenue with total ease. Today, I have a very important question to ask you. Are you replaceable? Now, of course, I’m not asking whether you’re personally replaceable, as a human being, as a wife, as a mother, as a daughter, a friend, and so much more. You’re obviously not. But what an asking is, are you replaceable in your law firm business? Because if you are not, you will never have the freedom you truly desire.
So let me explain by sharing a story of Viola, we’ll call her. Viola is a compilation of many lemon law firm owners I’ve met through the years. Viola is an attorney who owns a small law firm. She’s been working to grow her law firm business by adding new team members, like a couple of paralegals, a part time legal administrator, and reception service. She also is getting ready to hire an associate and hopes one day soon to hire a second one. Fortunately for Viola, she’s never really struggled to get clients. Because she’s lived in her hometown, all her life, and referrals flow easily to her. Lately, though, she started to worry because the clients are coming in faster than she can service them.
She’s now booking new client appointments several weeks out, she’s even raised her rates and began charging for consultation thinking that might stem the tide and give her a little breathing room. While she’s super grateful for the business. She’s also exhausted, and kind of at a breaking point. She really really needs a vacation. But she’s worried about what will happen if she takes one right now. Who is going to handle the new client consults? How can she ask for continuances on cases that have already been continued multiple times due to COVID? Maybe she can take long weekend or even a whole week off. But she knows there will be a huge price to pay when she gets back. Her staff loves to jam up her schedule right before the day that she leaves for vacation. And just as soon as she gets back. Besides what she really, really needs and wants is a whole month off just to recover. So can you relate to Viola?
Maybe the details of your story differ slightly. But if you can relate to her feelings of impending burnout, exhaustion that sleep can’t fix and overwork and overwhelm, then I want you to consider what it would be like to replace you in your business. It can be a shock to the ego when you first consider this concept. But hear me out. What if you could easily take a month off in your business to rest, relax and refresh? Maybe head to Cancun or even Paris or Italy? And know while you’re gone that your law firm would continue to run smoothly without you, servicing your clients at the highest levels? What if your clients felt taken care of and supported by top notch legal services provided by your firm without you having to be involved personally in providing the legal solution to their problem?
What if you could do all this and not only not lose money, but make more money than ever in your business and as a personal income? That is what is possible when you begin to think of how your law firm is not really your baby, but a business entity that provides a service for paying clients. And a business that can run independently of you while still upholding your vision. Nowhere is it written that a business you own must be dependent on you personally, to provide services. Even if you love being a lawyer and doing the lawyering yourself. If you grow a business that can run without your daily presence, you still have the option to work in your business as you desire.
But now you also have the freedom that true wealth provides. This is the kind of freedom that creates more options for you, instead of blocking you into only one option, grinding away until there’s no more grind left in you. What would you do with your one beautiful life, if you not only have the financial resources you desire, but all the time in the world to enjoy the freedom those resources provide? What if, by being married to being irreplaceable in your business, you sell yourself, your team and your business short, and you limit the impact you could be creating in the world. When you’re ready, we’re here to help you.
I invite you to join us in the Wealthy Woman Lawyer League. The Wealthy Woman Lawyer League is a community of women law firm owners all on the journey of scaling our law firm businesses to and through a million dollars and having the option to replace themselves in their business if they so desire. So you can visit www.wealthywomanlawyer.com/league/now to enroll or visit wealthywomanlawyer.com website to schedule a consultation to discuss how we may able to help you replace yourself in your business while you still reap all the rewards. As always, thank you for listening to the Wealthy Woman Lawyer podcast. We so appreciate you.