Mastering Profit First: Transform Your Law Firm with RJon Robins
In the competitive world of law, success is not solely measured by case wins, but also by the financial strength and stability of your practice. The latest episode of The Lawyer Millionaire Podcast offers a rigorous exploration of the tenets of financial acumen in the legal profession. We welcome esteemed guest, RJon Robins, a pioneer in law firm profitability, who provides a profound discourse on the fiscal responsibilities that come with firm ownership. His expertise is a linchpin for those seeking to excel in the financial management of their legal practices.
What Listeners Will Learn:
1. The transformative effects of applying the "profit first" methodology to enhance your firm’s financial health.
2. The ethical mandate for financial competence and the consequential importance of profitability in law firm management.
3. Effective tactics for overcoming internal resistance when introducing and implementing crucial financial structures.
4. The vital role that financial stewardship plays in fostering client trust and the holistic success of your legal team.
5. The indispensable business competencies necessary for enduring prosperity in the legal domain, as illustrated by Robins' wealth of experience and introspective journey.
Scaling Up Your Firm with Robins
During the discussion, Robins points out the importance of reading "Scaling Up" and hints at his upcoming project, "Scaling Up for Firms 10 million to 100 million", highlighting its potential as a game-changer for your practice. Furthermore, leveraging his book, "Profit First for Lawyers", he uncovers the pivotal significance of being financially literate and prepared for implementing profit-first principles, even in the face of possible resistance from employees.
Robins' expertise doesn't stop at literature. He also hosts the "Profit First for Lawyers" podcast, serving as a rich repository of knowledge for implementing the Profit First system in high-revenue firms. His advocacy for this system stems from the ethical obligation lawyers have to run a profitable business, focusing on the ultimate benefit this can bring to clients.
A Lawyer’s Financial Ethics & Client Care
In an enlightening exchange with Darren, Robins stresses the ethical implications of financial stability within a law firm. He posits that a lawyer should not only master their legal expertise but also demonstrate sound financial management. This, he suggests, not only impacts the health of the firm but the core service delivery to clients.
The Confluence of Personal and Business Finances
RJon Robins candidly shares his journey of rapid financial growth and acknowledges the emotional and habitual challenges that accompany such success. He champions personal financial planning as crucial for law firm owners, positing that managing personal wealth effectively goes hand in hand with running a successful firm.
Conclusion:
This episode of The Lawyer Millionaire Podcast with RJon Robins is packed with profound revelations that could catalyze your journey to becoming a financially savvy and ethically responsible law firm owner. Take advantage of the bonus materials offered in our show notes, and don’t forget to read Robins' influential book, "Profit First for Lawyers", to jumpstart your Profit First journey. We thank RJon Robins for his unmatched insights and invite our audience to harness this knowledge to forge a path toward financial independence and personal fulfillment.
Resources:
Connect with Darren Wurz:
Connect with RJon Robins:
Facebook: RJon Robins
Instagram: RJon Robins
Linkedin: RJon Robins
Website: Profit First For Lawyers
About our guest:
RJon Robins is the one common denominator behind more multi-million-dollar law firms than anyone else on the planet. RJon believes in profit, and he detests loss.
Since he first reported for duty as a Small Law Firm Management Advisor with The Florida Bar’s Law Office Management Assistance Service (LOMAS) under the legendary J.R. Phelps (1999) and since founding How To Manage A Small Law Firm (2009) RJon and his team of wildly qualified law firm business management advisors have coached, counseled, advised, and kicked the butts of thousands of wildly successful small law firm owners. Yes, we know we used the word “wildly” twice in that sentence – what How to Manage a Small Law Firm does is that good.
The only three things that piss RJon off are:
The Doctrine of Sacrifice
People who would have you embrace The Doctrine of Sacrifice
The BS those people often spew to try and convince you, as an entrepreneur that you should somehow take pride in how much you suffer but apologize for how much value you create for yourself and others.
Oh, and in case you’re impressed by this sort of thing RJon is a Member of The Florida Bar, he’s authorized to appear before The Southern District Federal Court, he’s a Member of The Association of Certified Fraud Examiners, his company How To Manage A Small Law Firm has been named by Inc Magazine as one of the 5000 Fastest Growing Privately Held Companies in the United States every year since 2015 and after 15 years of marriage his wife still thinks he’s funny.
Why Did RJon Write Profit First for Lawyers?
After working with thousands of law firm entrepreneurs for many years, RJon wanted to write a book dedicated to business owners who are committed to growing their law firm and living a better life. RJon has seen first-hand how “conventional wisdom” has led many entrepreneurs astray and wanted to share what he knows will help them turn their businesses around.
If entrepreneurs implement what’s explained in the book, their law firms WILL become more profitable and they WILL feel more satisfied.
But this book will probably piss them off too.
Why? Because when they discover the culprits who have been keeping them separated from their profits… It will probably piss them off. One day they will wake up and be pretty pissed about all the bad advice they’ve been given.
Ready to Take the Next Step?
If you are ready to take the next step and experience even MORE personal and professional growth, then you may be ready to become a member of How to Manage a Small Law Firm.
If you already know an HTM Member, GOOD. Now you need the courage to begin your journey “through the looking glass.”
Don’t know an HTM Member?
Several of our Members volunteer each quarter to “pay it forward” and have a conversation with potential new members about what it’s really like to work with How To Manage. Based on that conversation, they’ll send you a referral to have a formal consultation with someone from our New Member Engagement group.
If our team believes we can help you achieve your goals they’ll recommend the next-best step for you. Fill out the “I’m Interested in Joining HTM” form and you’ll be introduced to one of our members.
