Podcast: Priorities Before the First Million

All lawyers have a different vision of what they’re trying to build. Some of us want a lifestyle firm: one that generates enough revenue to support ourselves, affords family time, and allows us to save for retirement. Others know they want something more: they want to create legacies for themselves, self-sustaining firms, or an asset to sell.

There’s no right or wrong goal for building a firm, but if you’re trying to create something larger than yourself, you need laser-focused priorities to reach your first million.

Step back and look at other industries. Just like any other company, law firms are businesses, and every business goes through stages.

Most law firms have the luxury of skipping the validation stage. Legal services are profitable. The business model has proven itself for more than a century.

When you’re starting something new—if you ever want to reach your first million—the growth stage is the most critical. How you prioritize your efforts during the beginning months will make the difference between slow growth and future millions.

Want to know what your priorities need to be and the ones to leave idle? Press play.

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