AOL 108: Five Things I've Learned From Starting an Estate Planning Law Firm
I’ve been doing a little reflecting this week about what I’ve learned so far in this journey of starting an estate planning law firm (or essentially starting one).
If you didn’t know, I’m now officially a Bellevue estate planning attorney (yes, it’s a shameless plug), and I’m working my ass off to get this thing off the ground.
Over the past several weeks I’ve already learned a lot about the business, and now I want to share it with you (as always, if you want to get the inside scoop you actually have to listen to the podcast).
1. In some ways starting a law firm from scratch is easier than starting something that’s already been established.
The firm I’m “starting” is already several years old.
I equate some of the stuff I’m trying to do to be the equivalent of trying to turn an aircraft carrier.
2. In some ways starting from something that’s already been established is easier than starting a law firm from scratch.
With the struggle also comes some good. Certain foundational elements are already in place that I don’t have to worry about. That was one of the appealing aspects of this particular opportunity.
3. There are two types of legal services, and each has their challenges.
In “The 7 Habits of Highly Effective People” by Stephen R. Covey, he breaks down the tasks we face on a daily basis into 4 quadrants:
- Important and urgent;
- Important and not urgent;
- Not important and urgent;
- Not important and not urgent.
Legal services fall into two of these categories as well, and that creates certain challenges I wasn’t necessarily aware of before this.
4. The answer to all challenges is networking and relentless follow up.
I think the thing speaks for itself here.
5. If you don’t feel like things are moving too fast then you aren’t doing it right.
When you start something and build something there should always be a little bit of a feeling of loss of control.
This is because that feeling is simply telling you that you are pushing yourself out of your comfort zone.
Look forward to it.
P.S. – curious about what I do on a daily basis to create and build my successful law firm? Now you can find out first hand (and steal some of my secrets). It’s called the Law Firm Confidential Podcast, and you can get access to the first 5 episodes for free by clicking right here.
Who am I? I am an expert on starting a law firm and law firm marketing. I’ve started two successful law firms and love sharing what I’ve learned so you can do it too.