Law Firm Alchemy’s Post

Transcript

I think there's a lot of business owners that say that that need to really take a step back, a lot of lawyers and say if you want to be that amazing technician and grow your firm, you can you should probably invest in an outside CEO to come in or especially a CEO And you know, maybe start with the fractional and then hire somebody where you can still be the face, you can still make the sausage, but let somebody else actually run the firm. If your heart's not in running the firm. Hmm. You know, and a lot of people I think are, you know, are still so focused on, well, it has to be me. I have to be the CEO. No, you don't. You know you don't have to, especially if you like the law. That has been a trend that I've seen evolve a little bit over the last honestly maybe only two, 2 1/2 years. Is this idea of the outside CEO is there when you think about some of these resources like the fractional Co or Co, anything involving the the C-Suite or timing of those types of hires for the firm owners out there who are at that say 500,000 to $1.5 million per year in revenue. Level. Is there a recommendation you make in terms of stacking some of those hires, prioritizing some of them? That's a great question. So looking back, I wish we had focused more on systems and infrastructure when we were at that 500,000 level. Because we just, you know, we tripled, well, we were higher than 500, less than a million and we tripled in one year and everything broke. I mean, it was still, it was my most miserable year practicing law and it was my most profitable year. So go go figure that. But I was miserable because everything broke. It was 20/21. It was, you know, the great resignation. We knew we needed to turn over some staff and we thought it would be easy like it was in 2019 and it was an absolute nightmare and. You know, it's a lot of miscalculations and just. Good at good at marketing, good at selling, but not good at actually running a business or having fundamental business principles. One thing that I one word of caution is I think people need to really understand the difference between the role of a coach. And the role of a fractional C-Suite. Hmm, there's a lot of people that are. Saying they're fractional C suites, but they're more like coaches. And so my opinion is it coaches are amazing. I was a high school basketball coach. I think everybody should have a coach. OK, you know, you need a coat.