Starting a Law Firm | Opportunities and Office Space
This post is from the first blog I started, called “How to Start a Law Firm.” Over the years I’ve moved to different sites a few times and wanted to catalog all of my content in one place. If an article refers to a link and there is no link, sorry, that’s consequence of the move. Enjoy!
Hi everyone. Hope all is going well. Missed a couple of posts. Sorry. Been busy. But I’m back and I’m ready to write! Here we go.
Opportunity to Learn How to Start a Law Firm Right the First Time
Wanted to start this post off with a bit of information for all of you out there thinking about starting a law firm or wondering how you can really jump start your practice. If you’ve been paying attention at all you know I have a business coach named RJon Robins. He’s a great guy, knows a lot about law firm marketing and management, and truly has helped me take my practice to where it is today. And he’s got an opportunity I wanted to let you all know about.
Before I get into it, though, I want to issue a disclaimer. The link I’m going to give you to sign up for this free phone call is an affiliate link. That means if you click on it and then end up signing up with RJon for help, he’ll pay me a little bit of money. A referral fee for lack of a better term. Although it has nothing to do with my endorsement of his services (you can see I have posts about him going way back before I had any affiliate arrangement with him) I wanted to let you know.
With that being said, let’s get to the meat of this opportunity. RJon is having a free phone call to tell people about his starting a law firm course. It’s a course that actually morphed off the course I originally bought and provides all of the tools you need to run a successful law firm. It’s a great resource and something all of you should think about signing up for if you are serious about not just opening a law firm but opening a successful law firm. Click on the link here to go sign up. Like I said, the call is free, I guarantee you’ll get some good information even if you don’t sign up, and if you’re serious about doing this, you owe it to yourself to check this out.
Spending Money to Make Money
That’s pretty much my pitch for the phone call. But while I have your attention I want to talk to you about something that has taken me some time to learn but is vital to your success in business and in life. To make money you have to spend money. Period.
What has prompted this section of the post was my thinking back to when I first met RJon, on a call exactly like the one you are going to be signing up for. He talked about all the things his program offered, provided a lot of proof that the service was legit (which was a huge fear of mine), and then told me the price – $2500. When I heard it I thought, “holy shit that’s expensive. I don’t want to spend my money on something like that.” And that was one of the dumbest things I think I’ve ever thought.
Here’s the thing about owning your own business. You have to treat it like you treat your legal career. I hope as attorneys, no matter where you are in your professional career, you don’t think you’ve reached the peak of your skills. There is always more to learn, always more to hone, always more to add to your arsenal. And to do that you typically have to pay some money. I don’t think twice about dropping $1000 to go to a trial lawyers CLE because I know it’s going to help me infinitely moving forward. There’s a business term for that – ROI – return on investment.
These types or programs are exactly the same. The money you are paying is (or should be) inconsequential compared to what it will earn you over time. To put it in financial terms, wouldn’t you willingly spend $2500 to make $25000 based on the information, resources, and practical help you get? If you say no don’t open a law firm. You’re an idiot.
I’ve paid for RJon’s programs and I’ve paid for other business programs too. I just bought a course that cost me $1,500 (not related to law) that I thought might give me just a couple of more tools to make me that much more effective. If it helps me get one more client it’s already paid for itself.
My point is if you’re opening a law firm you need to start thinking like a businessman. And a businessman knows that money doesn’t represent security or purchasing power, it represents leverage. Money to the businessman is a unit of leverage that can be used to get more units. You start thinking like this and the money will start rolling in.
By the way, if I don’t get any comments or questions on this I’m going to be disappointed. This isn’t an easy concept to wrap your heart around. It’s easy to wrap your mind around, but it’s scary when you first start doing it. Let me know what you’re thinking, let’s talk our way through this, and get your growth projections from a 20 degree angle on the graph to an 80 degree angle.
And, by the way, RJon is the one that helped me through explore this concept. And to give you an idea of what a cool guy he is, the example he used to explain the concept was a drug dealer (I’ve talked about this in the past if you want to see the example played out).
New Office Space!
And speaking of investing in money to make some more, I submitted a letter of intent on some new office space next week. It’s time to get out of my current space.
If I haven’t walked you through my decision to move offices, I give you a brief synopsis. About a year ago I moved out of downtown to a more industrial district. The downtown office was nice, but access sucked, parking sucked, and it was expensive. I wanted to move some place that was more my style, and I thought I found a cool spot. The access was good, the parking was free (garage in the building) and the rent was cheap (relatively). It was about 200 square feet or so and had two free conference rooms that were right next door. The building was new and seemed cool.
But I forgot to do something I knew I should have done – or I wasn’t realistic with my analysis. I didn’t think about the entire process from a client perspective. I considered how they would get here and what they would think of the space when they got here, but I didn’t think about what would happen from when the client arrived to when they actually got to the office. See, there is no central lobby in the building like a traditional office building. When you get in the parking lot there are elevator bays on the north and south sides that take you up to the floor you need to go to. But to get into the elevator bays you need a security card – 24 hours a day. That makes getting clients up here difficult. And it isn’t the first impression I wanted.
So I’m moving. The new space is 700 square feet, is in a better location, has better location, and is even cheaper per square foot than this place. There’s enough room to build out a conference room (a portion of which the landlord is paying for) and hold me, my assistant and a law clerk or new attorney. And it’s cool as hell. I hope we seal the deal and get started on making the space ours.
Speaking of making the space ours, I’m kind of in a reflective mood today, and it got me thinking about office space and what it really represents to me. For me it’s not just about having a cool space. It’s about having a place I’m excited to go to everyday, about having a place that’s my own, that I built up, that I paid for, and that I can call my own. For me it represents stability, safety, and success. It’s my home base, my place to hatch new plans, to refine old ones, and to continue my plan to dominate my market for legal services (by the way, this doesn’t have to be your plan, but you should have a plan). I’m excited for this new space because in many ways for me it represents that I have arrived. Even though my practice has been open for almost two years, this is something tangible that represents I’ve been doing things the right way.
Thanks for reading. Thanks (in advance) for sharing. See you Friday.